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Posts tagged economy

Konami game revenue dips during fiscal Q1, Snake nowhere to be found

Snake?! Snake?! SNAAAAAAAKE?! news now with Konami's financial results for its first quarter (which ended June 30, 2009) showing a notable decrease in revenue, both company-wide and within the video game sector. Edge reports that overall revenues sank 21 percent to $535 million, while sales...

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Disney Interactive posts 20 percent losses in third quarter, citing bad economy

Businesses don't adhere to the same rules we silly humans do; the cycle of the Earth around the sun, for instance. Disney Interactive Media Group is no exception, posting its quarter three financial results -- the quarter that ends in June, folks -- just this week. According to Gamasutra, revenue...

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Rock Band slump leads to lower Viacom profits

Remember how Rock Band sales declined 67 percent since last year? It looks like the sales slump has taken its toll on Viacom's Media Networks division, which houses MTV Games. According to Gamasutra, the division reported revenues of $1.97 billion in its fiscal quarter ending June 30, an 8 percent...

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Amazon stock drops citing 'an industry slowdown in video games and consoles'

The global economic recession is finally hitting home, folks. That's right -- the Internet. Major online retailer Amazon.com is citing, "video games and consoles" as one of the primary culprits causing the company's financial hardship. According to the Wall Street Journal, though the company...

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Xbox 360 and DS see significant growth, in spite of industry slowdown

The video game industry is not "recession-proof," as many have trumpeted. So far, the industry has seen a 12 percent decline in revenue in the first half of 2009 versus the same period in 2008. Sales of hardware have slowed down as well, with Nintendo selling 13 percent fewer Wii systems and PS3...

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Report: Modern Warfare 2 triggering UK games price hike, EA not budging

We feel for our UK-based gaming brothers-and-sisters-in-arms. We've seen the gaming industry putting them through the financial wringer many times in the past, but a recent report from MCV describes the cruelest economic hardships they've ever had to face -- Activision has kicked the UK price of...

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Nielsen: Gaming time, used game sales at all-time high

Take that, crumbling economy! In a recently released report (PDF), Nielsen Media Research claims that, despite poor economic conditions, gamers are actually spending more time playing games in 2009 than they have in previous years. In fact, the number of hours spent per week playing games is at an...

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GameStop: Families saving pennies by playing games

In these tough economic times, corporations are looking for good news wherever they can find it. Take, for instance, this release issued by GameStop, which said that 34 percent of families will be playing games together rather than partaking in more expensive activities like vacations this summer....

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Two Midway studios facing possible closure in two weeks

If you've got an extra few million bucks lying around, we can think of a couple of video game development studios that could really use it. According to a recent report from Guardian.uk, Midway's Newcastle and San Diego studios are facing closure if they can't find buyers by the end of June. For...

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Crystal Dynamics lays off another 25

Eidos has confirmed that another 25 employees have been let go from Tomb Raider developer Crystal Dynamics. The publisher told Kotaku that the decision is a "reflection of the continued drive to focus resources at the studio." This latest round of layoffs follows the confirmed forced departure of...

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