Episode 170: Embracer Group Fire Sale Burns Labor (News Show)
Release Date: 03/29/2024
Virtual Economy
There are few things worse than yet another company laying people off… and EA has committed the sin of obfuscating job losses. Also: Earnings season is underway, the Circana report for December 2024 and the full year, a recap of the GDC State of the Industry report, and more. You can support Virtual Economy’s growth via our and also purchase! TIME STAMPS [00:00:49] - EA Takes a Tumble [00:12:58] - Microsoft Q2 FY25 Earnings [00:19:38] - Capcom Q3 FY25 Earnings [00:25:39] - Circana Report on U.S. Video Game Spending for December 2024 and Full Year 2024 [00:35:25] - Learnings from the...
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info_outlineWe’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 Ko-Fi and also purchase Virtual Economy merchandise!
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] - GameStop Q4 FY24 Earnings
- [00:33:03] - Investment Interlude
- [00:47:40] - Divestment Dinterlude
- [01:03:42] - Quick Hits
- [01:16:04] - Labor Report
SOURCES
- Gaming Safety Coalition | Gaming Safety Coalition
- GameStop Reports Fourth Quarter and Fiscal Year 2023 Results | GameStop
- Report: Australian studio Torus Games effectively shuts down after 30 years | Game Developer
- Eggnut is Closing | Eggnut (@eggnutgames) on Twitter
- Deviation Games is Closing | Kriste Stull on LinkedIn
- Rooster Teeth Shut Down By Warner Bros. Discovery | Deadline Hollywood
- Crop Circle Update | Jennifer Klasing on LinkedIn
- Velan Studios Layoffs | Velan Studios on LinkedIn
- Something Wicked Layoffs | Eric Webb on LinkedIn
- Smilegate Barcelona reportedly closed and all employees let go | VGC
- Nintendo makes cuts to US QA contractors | GamesIndustry
- A MESSAGE FROM MAX HOBERMAN, CEO OF CERTAIN AFFINITY | Certain Affinity
- SAG-AFTRA “50/50, If Not More Likely” To Strike Against Video Game Companies Soon | Deadline Hollywood
- Microsoft voluntarily recognizes 600-strong Activision Blizzard QA union | Game Developer
- Sega of America workers ratify union contract, protecting 150 employees | Polygon
INVESTMENT INTERLUDE
- TURTLE BEACH ANNOUNCES TRANSFORMATIONAL ACQUISITION OF PDP | Turtle Beach
- Virtuos acquires Beyond-FX | GamesIndustry
- Sensor Tower acquires Data.ai | GamesIndustry
- Stellar Blade studio Shift Up files for IPO | GamesIndustry
- Shinji Mikami founds new studio, Kamuy Inc. | Game Developer
- Popularium secures $2m seed funding for next game by Magic: The Gathering creator Richard Garfield | GamesIndustry
- EMBRACER GROUP CEASES ALL OPERATIONS IN RUSSIA THROUGH THE DIVESTMENT OF SELECTED ASSETS FROM THE OPERATIVE GROUP SABER INTERACTIVE | Embracer Group
- Tencent reportedly takes over two ByteDance games teams | GamesIndustry
- The developer of the two-dimensional game "Nikke" applied for listing at a valuation of 3 trillion won, and Tencent held 24% of the shares Game Grand View | GameLook.com.cn