Episode 162: The Stark Contrast Between Positive Earnings and Gruesome Layoffs (News Show)
Release Date: 11/15/2023
Virtual Economy
A scathing report from Hindenburg Research surfaces shocking realities about Roblox’s investor relations and massive failures to protect youth on the platform. Also: Circana Report U.S. video game spending for August 2024, Google is now required to make external app stores more viable, and more. You can support Virtual Economy’s growth via our and also purchase! 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...
info_outline Episode 180: Ubisoft in Freefall (News Show)Virtual Economy
Ubisoft has been under fire since a failed hostile takeover attempt in 2018. Since then, a toxic culture of misogyny and harassment was revealed in 2020 leading to an exodus of talent and a string of underperforming releases. Now, a critical game delay, a board review of operations, and a looming strike in France have tanked the share price as the company is fending off an activist investor bent on forcing the company to eject the Guillemot family and take private equity to save the ailing publisher. Also: Another very bad time for labor, another story reveals a power struggle inside...
info_outline Episode 179: The $700 PS5 Pro Is An Act of Desperation (News Show)Virtual Economy
The PlayStation 5 Pro defies all logic, reaching deeper into diehards’ pockets in the worst economy we’ve seen in 15 years. We break down the challenging economics (while also admiring Mark Cerny’s ASMR-style presentation). Also: GameStop earnings tumble, more Microsoft layoffs, Unity reverses a terrible decision, and can AI companies just stop stealing our stuff? You can support Virtual Economy’s growth via our and also purchase! This episode is sponsored by Magic Mind, a supplement shot that includes ingredients to lower your stress, reduce fatigue, and boost your immune system....
info_outline Episode 178: EA Sports College Football Saves the Month (News Show)Virtual Economy
We had a hunch that EA Sports College Football was going to be big, and it seems to have single-handedly swung the U.S. video game spending report in a positive direction. Also: Lots of earnings, PS5 price hikes, some acquisitions, and more. You can support Virtual Economy’s growth via our and also purchase! TIME STAMPS [00:01:46] - Circana Report on U.S. Video Game Spending for July 2024 [00:09:36] - Square Enix Q1 FY25 Earnings [00:16:53] - Nintendo Q1 FY25 Earnings [00:26:38] - Sony Q1 FY25 Earnings [00:36:43] - Remedy Q2 FY24 Earnings [00:44:59] - Sega Q1 FY25 Earnings [00:49:19] -...
info_outline Episode 177: The Last Good Reason for GameStop to Exist is Gone (News Show)Virtual Economy
Amidst new allegations of insider training, GameStop CEO Ryan Cohen has shuttered Game Informer magazine after 33 years. Also: Earnings time is here, more Bungie layoffs, Netherrealm layoffs, Circana report for June 2024, voice actors on strike, IGN parent Ziff Davis does Humble Games publishing and its partners dirty, 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...
info_outline Episode 176: Microsoft Holds a Knife to the Golden Game Pass Goose’s Neck (News Show)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...
info_outline Bonus Episode 10: A Conversation About Unionization with IATSEVirtual Economy
With the video game industry in the midst of the worst labor crisis we've ever seen, collective action is crucial. We're joined by Chrissy Fellmeth, Kelly Larkin, and Andrew Buczacki to discuss how the International Alliance of Theatrical Stage Employees is supporting labor organization and unionization in the video game industry. Additionally, you can find a transcript of this interview . For more on IATSE, you can visit their , , and channels. Additionally, you can find more resources at and the .
info_outline Episode 175: Summer Game Fest Gets Closer to E3 Vibes (News Show)Virtual Economy
E3 might be dead, but its spirit is clinging to life (even if just by sheer will of the industry and the JW Marriott lobby). We discuss the trends and big learnings from the showcases and a quick visit to SGF Play Days. Also: GameStop earnings, Circana report for April 2024, the latest labor report, 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...
info_outline Episode 174: The World’s Oldest Console War is Over (News Show)Virtual Economy
Atari has finally driven its mortal enemy, Intellivision, and heard the lamentations of its pixels. Also: So. Many. Earnings. We’re covering Sony, Square Enix, Ubisoft, Take-Two, and Embracer. Also, a number of new studios were founded as the labor winter trudges on. You can support Virtual Economy’s growth via our and also purchase! TIME STAMPS [00:02:32] - Sony Q4 and full year FY23 Earnings [00:17:46] - Square Enix Q4 and full year FY24 Earnings [00:25:29] - Ubisoft Q4 and full year FY24 Earnings [00:31:04] - Take-Two Q4 and full year FY24 Earnings [00:42:40] - Embracer Group Q4...
info_outline Episode 173: Sony Didn’t Manage Democracy, Xbox Self-Immolates (News Show)Virtual Economy
Sony dug a giant hole and dumped all the Helldivers 2 goodwill into the pit (while cutting off 177 countries). Microsoft lit itself on fire and burned player sentiment to the ground. Good times. Also: Take-Two layoffs target a BAFTA winner, Unity has a new CEO with a massive compensation package, the Circana report for March, and earnings, earnings, earnings. You can support Virtual Economy’s growth via our and also purchase! TIME STAMPS [00:03:56] - Unity’s New CEO [00:13:42] - Circana Report on U.S. Video Game Spending for March 2024 [00:25:08] - Investment Interlude...
info_outlineWe’re in the thick of earnings season, and it’s hard to swallow positive financial news amid an avalanche of heartbreak labor stories. On this week’s show: Sony EA, Nintendo, Take-Two, Remedy, Sega, and Square Enix earnings.
You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!
TIME STAMPS
- [00:02:35] - Sony Earnings for Q2 FY2023
- [00:08:50] - EA Earnings for Q2 FY2024
- [00:17:00] - Nintendo Earnings for Q2 FY2024
- [00:27:08] - Take-Two Earnings for Q2 FY2024
- [00:29:00] - Remedy Earnings for Q3 FY2023
- [00:31:02] - Sega Earnings for Q2 FY2024
- [00:34:32] - Square Enix Earnings for Q2 FY2024
- [00:39:25] - Remedy Update on Project Vanguard
- [00:42:57] - Investment Interlude
- [00:56:14] - Quick Hits
- [00:59:21] - Labor Report
- [01:14:05] - Listener Questions
SOURCES
- Q2 FY2023 Consolidated Financial Results | Sony
- Electronic Arts Reports Strong Q2 FY24 | EA
- Consolidated Results for the Six Months Ended September 30, 2023 | Nintendo
- IR Presentation for Fiscal Year Ending March 2024 | Nintendo
- Take-Two Q2 FY24 Earnings | Take-Two
- REMEDY ENTERTAINMENT PLC: Q3 2023 | Remedy
- Remedy Entertainment plans to reboot codename Vanguard to a premium game with a strong cooperative multiplayer component | Remedy
- Q2 for the Fiscal Year Ending March 2024 | Sega
- Results Briefing Session for the Six-Month Period Ended September 30, 2023 | Square Enix
- Sony’s Bungie Game Unit Cut 8% of Staff After ‘Destiny’ Play Wilted | Bloomberg (Paywall)
- Embracer's implosion continues as Star Trek Online developer Cryptic Studios lays off employees | PC Gamer
- Motorsport Games to lay off up to 38 employees | GamesIndustry
- 100 Thieves to cut 20% of its workforce | GamesIndustry
- The layoffs continue: Ubisoft cuts 124 jobs worldwide, including nearly 100 in Canada | PC Gamer
- Worker co-op dev The Glory Society has shut down | Game Developer
- Unity is probably going to do layoffs | The Verge
- Wayfinder, Warframe publisher Digital Extremes cuts workers, divests from Wayfinder | Polygon
- Samurai Punk is ceasing development | Twitter
- Samurai Punk staff | Twitter
- Amazon Lays Off 180 Employees In Its Games Division | Aftermath
INVESTMENT INTERLUDE