Episode 146: GameStop’s Still Hemorrhaging Money (News Show)
Release Date: 12/16/2022
Virtual Economy
The Embracer Group name is going away, splitting its mega-conglomerate into three in an attempt to move on from its destructive legacy. But with Lars Wingefors sticking around to lead the holding company, our expectations are tempered. Also: Meta loses billions more as it tries to become the Windows of MR and earnings season is here! You can support Virtual Economy’s growth via our and also purchase! TIME STAMPS [00:01:54] - Embracer Group Splits Into Three Pieces [00:32:32] - Meta MR Losses Mount [00:42:03] - Paradox Q1 FY24 Earnings [00:44:16] - Microsoft Q3 FY24 Earnings [00:49:10]...
info_outline Episode 171: Why Layoffs? Because Everyone Else is Doing It! (News Show)Virtual Economy
Two months after Take-Two said it wasn’t planning layoffs it has… well… by now you know. Also, we’re trying something new and fun with this episode. Join us for a lively discussion about keeping the industry healthy and a deep dive into what the heck differentiates III from AA! You can support Virtual Economy’s growth via our and also purchase! TIME STAMPS [00:01:45] - Discussion Time! (How to build a healthier industry and just what does “indie” mean these days?” [00:23:49] - Investment Interlude [00:34:19] - Quick Hits [00:41:01] - Labor Report SOURCES ...
info_outline Episode 170: Embracer Group Fire Sale Burns Labor (News Show)Virtual Economy
We’ve come full circle. Embracer Group just took a massive loss to get some much-needed cash in hopes of filling a seemingly bottomless hole of debt. Saber is gone. Zen is gone. 4A is gone. Gearbox is gone. Also, SAG-AFTRA may strike against video game companies, some new studios are popping up, but many others are still laying off and closing. You can support Virtual Economy’s growth via our and also purchase! TIME STAMPS [00:00:30] - GDC and PAX East Recap [00:11:27] - Gaming Safety Coalition [00:14:53] - Circana Report on U.S. Video Game Spending for February 2024 [00:29:57] -...
info_outline Episode 169: The AAA Video Game Industry is in Freefall (News Show)Virtual Economy
Triple-A game development as we know it is unsustainable. It doesn't matter if a game succeeds or fails, the corporate machine is grinding developers up and spitting them out by the thousands. Things need to change. You can support Virtual Economy’s growth via our and also purchase ! TIME STAMPS [00:01:29] - Circana Report on U.S. Video Game Spending for January 2024 [00:07:04] - Investment Interlude [00:18:43] - Quick Hits [00:21:25] - Labor Report [00:43:33] - FAFO! SOURCES INVESTMENT INTERLUDE
info_outline Episode 168: Switch 2 Switcharoo Could Thwart 2024 Recovery Hopes (News Show)Virtual Economy
The console market is going through major changes as hardware prices stay high and first party needs to pivot audience strategy. Nintendo may be struggling to find a break-even for its Switch successor, prompting a later release than we anticipated. Also: Embracer Group woes continue, Hasbro loses a ton. This is episode is sponsored by Magic Mind, a supplement shot that includes ingredients to lower your stress, reduce fatigue, and boost your immune system. You can get 20% off your order of Magic Mind at using the code VirtualEconomy20. You can support Virtual Economy’s...
info_outline Episode 167: Did Microsoft Trigger the FTC’s Trap Card? (News Show)Virtual Economy
Microsoft’s layoffs have sent the FTC into a tizzy, adding fuel to the ongoing fire. Also: It’s earnings season, with EA, Microsoft, Capcom, Nintendo, Square Enix, Paradox, Take-Two, Sega, and Meta reporting. We also cover the latest in the layoff storm that continues to drown the industry and Disney’s $1.5B investment in Epic. This is episode is sponsored by Magic Mind, a supplement shot that includes ingredients to lower your stress, reduce fatigue, and boost your immune system. You can get 20% off your order of Magic Mind at using the code VirtualEconomy20. You can...
info_outline Episode 166: We Were Wrong About Microsoft and Activision (News Show)Virtual Economy
In the wake of 2020’s bombshell revelations about Activision’s miserable culture and history of defending sexual abusers, we hoped that Microsoft would be a better steward for the company’s 13,000 employees. With 1,900 laid off post-acquisition, we are disappointed and saddened at how wrong we were. This is episode is sponsored by Magic Mind, a supplement shot that includes ingredients to lower your stress, reduce fatigue, and boost your immune system. You can get 20% off your order of Magic Mind at using the code VirtualEconomy20. You can support Virtual Economy’s...
info_outline Episode 165: So… 2024, Huh? (News Show)Virtual Economy
It’s been less than one month, and the industry has already suffered more than 3,500 lost jobs. Also: The Circana report for December 2023 and the full year, a few investments, and a discussion about some challenging changes to the U.S. tax code. Oh, and a bit about that weird Palworld game. You can support Virtual Economy’s growth via our and also purchase! TIME STAMPS [00:11:08] - Circana report on U.S. Video Game Spending for December and Full Year 2023 [00:27:19] - Investment Interlude [00:34:06] - Quick Hits [01:00:58] - Labor Report SOURCES INVESTMENT...
info_outline Episode 164: The Game Awards Needs to Change (Season Finale)Virtual Economy
It’s been a hard year, folks. As we say goodbye to 2023 and turn our attention to a (hopefully) brighter 2024, we’re recapping recent gaming events, November’s Circana report, and more. You can support Virtual Economy’s growth via our and also purchase! TIME STAMPS [00:02:17] - Circana Report on U.S. Video Game Spending for November 2023 [00:09:11] - GameStop Earnings for Q3 2023 [00:13:28] - What’s Going on in China? [00:19:37] - Twitch: Closing Up Shop in S. Korea, Sexual Content Policy [00:25:10] - Investment Interlude [00:25:59] - Quick Hits [00:27:26] - Labor Report...
info_outline Episode 163: Embracer Group Claims Layoffs are How “We Will Win” (News Show)Virtual Economy
Embracer Group gorged itself during the pandemic when debt was cheap. Now, it’s scrambling to lay off hundreds of people to “win.” Also, Circana report for October, Epic wins against Google, and more. You can support Virtual Economy’s growth via our and also purchase! TIME STAMPS [00:04:03] - Embracer Group Q2 Earnings [00:20:32] - Starbreeze Q3 Earnings [00:24:59] - Epic wins in court against Google [00:27:27] - Circana U.S. Video Game Spending Report for October 2023 [00:33:18] - Investment Interlude [00:45:08] - Quick Hits [01:11:01] - Labor Report SOURCES ...
info_outlineIt’s our season finale! GameStop has more than a little red on it, with losses continuing to mount on a crypto deal gone bust. Also: Microsoft makes nice with Nintendo (again) to pressure Sony, layoff continue to plague the industry, Zenimax QA workers on the path to unionization, and a fresh FAFO. Oh… and we have a tiny, little announcement.
You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!
The views and opinions expressed on this podcast are ours and do not necessarily reflect the views or positions of our employer or the organizations with which we work.
TIME STAMPS
- [00:00:30] - Some exciting news!
- [00:05:44] - Gamestop Q3 FY2023 Earnings
- [00:14:20] - NPD U.S. Video Game Spending Report for November 2022
- [00:19:46] - Twitch’s new Shield Mode
- [00:22:51] - Investment Interlude
- [00:49:36] - Quick Hits
- [00:54:19] - Labor Report
- [01:14:26] - Listener Question
- [01:16:01] - FAFO
SOURCES
- GameStop Q3 FY2023 Earnings | GameStop
- GameStop begins layoff | Axios
- Protect Your Channel With Shield Mode | Twitch
- Activision Blizzard QA Workers Call for End to Bug Quotas | ABK Workers Alliance (@ABetterABK) on Twitter
- ‘Diablo IV’ developers work long hours, bracing for impending release | Washington Post
- Activision sues California agency that sued it over misconduct | Axios
- Zenimax QA Workers Will Unionize | ZeniMax Workers United - CWA (@ZenimaxWorkers) on Twitter
- “Massive” layoffs at Wildlife as it drops all non-mobile game projects | Mobilegamer
- Just Cause Studio Employees Call for Change Amid Year-Long Battle Over Controversial Hire | IGN
- DEI at Avalanche Studios Group | Avalanche Studios Group
- Insider trading in FF development? Former Square Enix employees re-arrested | Asahi
INVESTMENT INTERLUDE
- SONY INTERACTIVE ENTERTAINMENT OBSERVATIONS ON THE CMA’S ISSUES STATEMENT | UK Competition and Markets Authority
- MICROSOFT’S RESPONSE TO THE CMA’S ISSUES STATEMENT | UK Competition and Markets Authority
- FTC Seeks to Block Microsoft Corp.’s Acquisition of Activision Blizzard, Inc. | FTC
- Microsoft Didn’t Lie to the EU on ZeniMax Deal Like the FTC Said, According to Sources
- A Letter from CEO Bobby Kotick Regarding Activision Blizzard’s Merger with Microsoft | Activision Blizzard
- Keywords acquires AI-driven player support platform for $75m | GamesIndustry
- STARBREEZE STUDIOS EXPANDS WITH NEW STUDIO AND DEDICATED TEAM IN THE UNITED KINGDOM | Starbreeze
- SPLASH DAMAGE ANNOUNCES TRANSFORMERS: REACTIVATE | Splash Damage