Episode 154: What Happens When a $2B Deal Evaporates Overnight? (News Show)
Release Date: 06/11/2023
Virtual Economy
Microsoft is making sweeping changes to Game Pass, seemingly to avoid bleeding out on Call of Duty sales. Also: Circana report for May 2024, SAG-AFTRA updates, more Embracer and Paradox cuts, out of control EA executive pay in the face of layoffs, and more. This 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 one time purchase of Magic Mind or up to 48% off your first subscription at using the code VECONOMY20. You can support Virtual Economy’s growth...
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info_outlineOn the eve of its earnings announcement, Embracer Group saw a nearly-signed $2B deal fall apart. We discuss the potential impact. Also: GameStop back in crisis, a huge number of layoffs, and the strange tale of Disco Elysium continues.
Note: We discuss Cyberpunk 2077 and the Phantom Liberty DLC during this episode. While we were confused that Phantom Liberty was a no-show during Geoff Keighley's Summer Game Fest presentation, the game did make an appearance during the Xbox event.
You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!
TIME STAMPS
- [00:02:11] - Embracer Group Earnings for FY23
- [00:10:02] - Sony Business Segment Meeting - New Data
- [00:21:25] - GameStop Earnings for Q1 2023
- [00:29:11] - Investment Interlude
- [00:38:38] - Quick Hits
- [00:57:28] - Labor Report
- [01:19:48] - Microsoft Hit with $20M COPPA Violation Fine
- [01:23:51] - Apple’s Vision Pro and the $3,500 Price Tag
SOURCES
- Embracer Group Interim Report - Q4 and FY23 | Embracer Group
- Sony Business Segment Meeting 2023 Game & Network Services Segment | Sony
- CD Projekt Q1 2023 Earnings | CD Projekt
- GameStop Discloses First Quarter 2023 Results | GameStop
- Rising Storm studio Antimatter Games is being closed | PC Gamer
- Stranger Things 3 game developer BonusXP to close down | Game Developer
- Kirby support developer Vanpool has shut down | Game Developer
- Relic Layoffs | Relic Entertainment (@relicgames) on Twitter
- Life is Strange dev Deck Nine Games hit with staff layoffs | Game Developer
- Firaxis is latest video game studio hit by layoffs | Axios
- CD Projekt Red to Lay Off Around 30 Employees as Gwent Development Winds Down | IGN
- Redundancies hit Marvel Contest of Champions publisher Kabam | GamesIndustry
- Meta is laying off employees for the third time in less than three months | Engadget
- EA reportedly lays off two thirds of Firemonkeys Studio | GamesIndustry
- Star Wars: The Old Republic Going Third-Party as BioWare Focuses on Mass Effect and Dragon Age
- Bandcamp has successfully unionized at Epic Games | Game Developer
- Many teams, one Goodbye. Thank you for playing Blaseball. | The Game Band
- Investigation: Who’s Telling the Truth about Disco Elysium? | People Make Games
- FTC Will Require Microsoft to Pay $20 million | FTC
- Xbox FTC Settlement and Reimagining the Future of Safety on Xbox | Microsoft
INVESTMENT INTERLUDE