Gaming News - Page 6
Sony is taking its new live service games very seriously and is working some of the best talent in the business to bring its billion-dollar plans to reality.
Sony is going all-in on live service games. First Sony Interactive Entertainment acquired Bungie for $3.7 billion, sweeping up Destiny while also securing critical expertise in a big power buy. While Bungie will still retain creative independence under Sony, the Halo- and Destiny-maker will advise, consult, and help guide Sony's new fledgling live game ambitions.
More recently there are reports that Sony and Guerrilla Games are working closely with the online game experts at NC Soft on a new MMORPG set in the Horizon universe. Having developed games like the classic Lineage from the late 90s, NC Soft's know-how stretches across decades and the South Korean company's expertise has brought in nearly $14 billion in lifetime revenues across its five biggest games.
The Grand Theft Auto franchise has generated nearly $8 billion in net revenues since GTA V's release way back in 2013, data from Take-Two Interactive confirms.
Every quarter, Take-Two Interactive publishes SEC filings that outline the company's quarterly performance, including revenues, profit, cash flow, debt, risk factors, etc. Hidden in the filings is mention of how much net revenue that Grand Theft Auto products generate for that particular quarter. We've cataloged and charted these numbers to get a better picture of how the franchise is performing.
Based on data published by Take-Two and collected by us, the Grand Theft Auto franchise has made $7.84 billion cumulatively since Grand Theft Auto V's release in September 2013. The franchise made $152 million in Q2'23, aligning with early coronavirus earnings. While this is not the lowest quarter for GTA revenues, it is the lowest period the past 13 quarters (or 52 months).
CD PROJEKT RED has just pushed out a new update for Cyberpunk 2077 which adds something new for both PC gamers and console gamers alike.
Cyberpunk 2077's new v1.61 update has added AMD FSR 2.1 upscaling technology support for PC and "next-gen" which are really current-gen consoles now: PlayStation 5 and Xbox Series X/S consoles. CD PROJEKT RED already has NVIDIA DLSS 2.0 support for Cyberpunk 2077, but with the new FSR 2.1 support it means temporal upscaling technology can be used across a bigger range of graphics cards (and consoles).
In the update notes for the v1.61 patch for Cyberpunk 2077, CD PROJEKT RED explains that there's added support for AMD FidelityFX Super Resolution 2.1 (for "PC and next-gen consoles only") but there are plenty of other changes in the new Cyberpunk 2077 update.
Take-Two Interactive stock is down 18% after yesterday's earnings call, but company CEO Strauss Zelnick is still optimistic about the company's trajectory.
Yesterday Take-Two Interactive upset investors with downward revisions for its Fiscal Year 2023 earnings forecast that shaved off roughly $320 million on both the low and high-end; Take-Two previously forecasted $5.73 - $5.83 billion in net bookings for FY23, and the new revision is at $5.41 - $5.510 billion. This downgrade coupled with lower-than-expected monetization revenues and key statements that in-game purchases are "under pressure" led to a significant drop in stock price.
At the time of writing, Take-Two stock is trading at $93.57 USD, down 18.68% in the past 5 days. Now company CEO Strauss Zelnick gives a response on the share drop:
"I am a bit surprised, it seems severe. But in fairness there's an awful lot of securities under pressure right now, particularly in the entertainment space. I never argue with the market, as you know. It's hard to believe in the market in any given day. Over time, of course the market ends up being right. We will trade on our fundamentals over time," Zelnick said in a recent CNBC interview.
"This is a challenging moment for a stock price point of view, but it's not a challenging moment from a company point of view. We're still looking at really solid results, $5.4 to $5.5 billion dollars of net bookings, over $650 million in operating cash flow expected for the year."
"This is a really solid company that's positioned exceedingly well as the number 2 or number 3 pure-play interactive entertainment company--depending on what happens with Microsoft and Activision," Zelnick said.
When it comes to company outlook, Take-Two expects to ship a whopping 87 video games across all platforms and genres by the end of Fiscal Year 2025 (March 2025). Many of these new projects will be what Take-Two calls "immersive core" games, which includes heavy-hitting megaton franchises like Grand Theft Auto.
Following its combination with Zynga, Take-Two now makes nearly 50% of its ret bookings from mobile. The company has become a powerhouse in the dedicated gaming and mobile space following this merger but now there's lots of pressure for perpetual growth.
Rockstar Games parent company Take-Two Interactive pledges more support for the Microsoft-Activision merger.
In a recent interview with CNBC, Take-Two Interactive CEO Strauss Zelnick gives a frank response to the Microsoft-Activision merger: "We have no concerns."
Zelnick says that Take-Two Interactive was contacted by worldwide regulators concerning the megaton $68.7 billion Microsoft-Activision merger, and that the company itself didn't have any issues with the combination.
Sony is reportedly working with NCSoft to develop a new online game based on the Horizon franchise, sources have told Korean news network MTN.
Sony is shifting its focus to live service games and is currently working alongside some of the best online developers in the business, including Bungie, who it recently acquired for $3.7 billion, and external worldwide partners. One of these partners is reportedly NCSoft, one of the best live operators in the business.
According to Korean news media, Sony has entrusted the development of a new MMORPG set in the world of one if its best-selling PlayStation 4 franchises, Guerrilla Games' Horizon series. The game is codenamed Project H and is currently in active recruitment phases. It is unknown when the game will be ready, but this is likely the co-op project that was previously rumored.
The European Commission today announced that it would not outright approve the Microsoft-Activision merger, and the regulatory body has expressed its concerns about the merger.
Microsoft's proposed $70 billion buyout of Activision-Blizzard is being closely scrutinized by worldwide regulators. The merger has entered in investigation phases across multiple regulators including the FTC in the United States, the CMA in the United Kingdom, and now the European Commission in Europe.
The European Commission is prepared to closely examine the deal, but preliminary findings suggest that the Microsoft-Activision merger could significantly reduce competition across multiple gaming segments including PC and console game distribution, multi-game subscription services, and the nascent cloud streaming market. The EU regulators make similar arguments as the CMA, who has been the most vocal regarding the merger.
Today Nintendo announced that it is forming an official joint venture with DeNA in order to help bolster its network and services integration for its games.
After 7 years of collaboration, Nintendo is entering into a joint venture agreement with DeNA. The two companies will share resources (and more importantly, risk) as they work together to build things like Nintendo Account integration into online titles across mobile devices.
The purpose of the deal is: "Research and development, as well as operations to strengthen the digitalization of Nintendo's business, in addition to the creation of value-added services." Nintendo Systems Co. Limited will retain 80% of the capital structure whereas DeNA will have 20%, and the joint venture is expected to be approved in April 2023.
Activision does plan to release a premium Call of Duty game in 2023, but it won't be a mainline sequel or spin-off.
Today Activision confirmed that Call of Duty's annual release structure will not be interrupted. The publisher says that a premium Call of Duty game is set to launch in 2023, but gave no further details on what it could be.
Sources have told Bloomberg's Jason Schreier that Call of Duty 2023 will actually be a big paid expansion to Modern Warfare 2. The game will be developed by Sledgehammer Games (Advanced Warfare, WWII) and is planned to have a dearth of content.
The humongous popularity of Keanu Reeves' performance in the hit movie series John Wick has sparked ideas for a video game adaptation to be created.
The movie franchise began in 2014, and since the release of the first movie, the former hitman John Wick starring Keanu Reeves, has received massive popularity for its incredible fight scene choreography, a gripping revenge story, and the exponential number of victims that Wick leaves in his wake. The movie franchise has collectively grossed more than $587 million worldwide, and the fourth installment, John Wick: Chapter 4, is currently in post-production with a release date set for March 24, 2023.
With all of the success behind the John Wick franchise and the inherit high levels of action ingrained in each of the movies, it seems like a no-brainer to explore the idea of creating a video game adaption of John Wick. At least that is what Lionsgate's CEO, Jon Feltheimer thinks as he recently confirmed that his team is "fielding proposals" for a "AAA" John Wick game. The Lionsgate CEO said that nothing has been confirmed as of yet, but the company believes that "there is a big AAA game to be made out of John Wick", but isn't prepared to "say anything more" on that topic.