Episode 170: Embracer Group Fire Sale Burns Labor (News Show)
Release Date: 03/29/2024
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]...
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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] -...
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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_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