This Week In The Business: Money For Nothing

Illustration for article titled This Week In The Business: Money For Nothing

STAT | $794 million - The staggering size of Magic Leap’s latest investment round. The augmented reality company has yet to even announce a commercial product, but is already valued at $4.5 billion.

Elsewhere in the business of gaming this week...

QUOTE | “These outstanding results were driven by robust sales of Grand Theft Auto V, NBA 2K16 and WWE 2K16, along with our highest-ever revenue from recurrent consumer spending.” - Take-Two chairman and CEO Strauss Zelnick, after the publisher posted non-GAAP sales and profits essentially half of what they were for the same period the year before.


QUOTE | “Remarkable” - Digi-Capital on the 81 percent year-over-year decline in dollars for games industry mergers, acquisitions, investments, and IPOs in 2015. Activision’s pending $5.9 billion acquisition of King will single-handedly put this year’s total above that of 2015.

QUOTE | “The very ground that the ESA was built on is starting to crumble.” - Superdata CEO Joost van Dreunen, arguing that the Entertainment Software Association has failed to adapt to the digital age and needs to provide better leadership for the industry.

QUOTE | “I don’t see what they gain from this… I don’t see them safeguarding anything, and don’t think it will be a major part of their business ever.” - Wedbush analyst Michael Pachter, unimpressed with GameStop’s plan to publish games itself, starting with Insomniac’s Song of the Deep.

QUOTE | “You’d be a brave person to put in multiple tens of millions into a VR game at this stage, in my opinion. Maybe in a year’s time that will naturally happen, but at this stage I think people are being brave but sensible with their investments.” - Rebellion CEO Jason Kingsley on the paucity of AAA-scale VR games on the way. His own company’s Battlezone reboot has a budget of about £5 million.


STAT | More than $5 million - The amount of money The Witness brought in during its first week on sale. Last week’s piracy concerns aside, the game has already sold “substantially more” than 100,000 units.

STAT | 45,114 - The number of PlayStation Vitas sold in Japan last week, enough to easily top the hardware charts. While the system received a bump from the release of Dragon Quest Builders, the Vita version of that game topped the software charts ahead of its PS4 and PS3 counterparts.


QUOTE | “Creative decisions made in partnership with the licensors to avoid firearms and classic shooter mechanics.” - Glu Mobile CEO Niccolo de Masi, on why the company’s James Bond: World of Espionage game flopped. The publisher laid off 50 employees after a back half of the year de Masi called “extremely humbling.”

QUOTE | “[Pupils] will sit ‘Dragon’s Den’ style competitions and start up mock companies at the schools.” - A representative for Eidos life president Ian Livingstone, describing two forthcoming Livingstone Academies in the UK for students aged 4-19. The schools will teach STEM courses, art, and entrepreneurialism.


QUOTE | “We consider Dust 514 one of the best free-to-play offerings on the platform, but the years have caught up with us.” - CCP, explaining why it’s pulling the plug on its free-to-play PS3 shooter on May 30.

STAT | 100 million - The initial goal for My Nintendo memberships, a number the company hopes to reach with the help of its upcoming mobile titles.

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Cochese: 4k120fps

*a couple days after release*

*After first week sales are tallied...*

“More than $5 million - The amount of money The Witness brought in during its first week on sale. Last week’s piracy concerns aside, the game has already sold “substantially more” than 100,000 units.”

Another shining example of how piracy is ruining gaming and stripping all sales.

(and before you comment, I’m not pro piracy, but rarely does it affect people who are actually buying games/ game sales).