Episode 174: The World’s Oldest Console War is Over (News Show)
Release Date: 05/28/2024
Virtual Economy
2025 has continued the trend of layoffs, consolidation, and privatization. The gulf between AAA and everyone else is widening, as the AI bubble strains before an inevitable burst. With November’s Circana report coming in bleak after months of stronger performance, 2026 will continue to challenge us all. BUT... there is reason to hope. Unions are growing in number and reach and studios doomed by AAA mega-corps are finding a way to survive. We need to stick together to not only survive, but thrive. You can support Virtual Economy’s growth via our and also purchase! TIME STAMPS ...
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Warner Bros. is selling itself like a $1.50 hot dog at Costco, and everyone wants a bite. Before the weekend, Netflix looked like it had a clear path to regulatory review. But now, New Paramount is taking a swing with a hostile takeover. Things are about to get ugly. Regardless of who wins, though, we lose. Consolidation continues and consumers pay the price. Also: Nintendo, Square Enix, Take-Two, Embracer Group, and Sony earnings; Circana’s report on U.S. video game spending for October 2025; and another grim labor report. You can support Virtual Economy’s growth via our and also...
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We’re joined by two special guests on this milestone episode. Please welcome Andy Pan (the only person who has previously co-hosted a show with us) and Greg Alderton, Virtual Economy’s lead moderator! With 14,000 people laid off, studios shuttered, and projects abandoned, Amazon seems ready to give up on most or all of its gaming dreams. Also: EA earnings ride off into the sunset, Capcom posts a strong quarter, Remedy’s in trouble, and Microsoft is inscrutable. Also: Sony responds to Tencent’s request to dismiss the Light of Moritram lawsuit, Circana report on U.S. video game spending...
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We’re joined by two special guests on this milestone episode. Please welcome Andy Pan (the only person who has previously co-hosted a show with us) and Greg Alderton, Virtual Economy’s lead moderator! With 14,000 people laid off, studios shuttered, and projects abandoned, Amazon seems ready to give up on most or all of its gaming dreams. Also: EA earnings ride off into the sunset, Capcom posts a strong quarter, Remedy’s in trouble, and Microsoft is inscrutable. Also: Sony responds to Tencent’s request to dismiss the Light of Moritram lawsuit, Circana report on U.S. video game spending...
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With prices skyrocketing this generation, Microsoft has increased costs on Game Pass’ top tier while cutting offerings on others. We discuss the broader implications as price-sensitive players get boxed out. Also: Unity security alert sends devs scrambling, Tencent fires back at Sony’s Horizon: Zero Dawn lawsuit, and private equity rears its head once more. You can support Virtual Economy’s growth via our and also purchase! TIME STAMPS [00:01:40] - Game Pass Price Hike Hits Hard [00:29:53] - Unity Security Flaw Alert [00:32:53] - Tencent Hits back at Sony’s Horizon: Zero Dawn...
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EA is going private in a $55 Billion deal. Saudi Arabia’s Public Investment Fund, Jared Kushner’s Affinity Partners, and Silver Lake will own the company after the deal closes in Q1 FY27. We discuss what that means, explained how leveraged buyouts work, and share our concerns for the future of EA’s workforce and identity. You can support Virtual Economy’s growth via our and also purchase!
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PAX West 2025 felt like home for the first time since the COVID-19 lockdown ended. We recap our favorite games and tech from the show. You can support Virtual Economy’s growth via our and also purchase!
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Following the flagging performance of Destiny 2 and Marathon woes, Sony has jettisoned embattled Bungie studio head Pete Parsons. They’ve also announced significant hikes on PS5 prices. Also: Another Subnautica 2 lawsuit, a BioShock shakeup, and Frost Giant studio head Tim Morten leads with transparency and accountability. You can support Virtual Economy’s growth via our and also purchase! TIME STAMPS [00:02:07] - PlayStation 5 Price Increases in the U.S. [00:05:25] - Unknown Worlds v Cleveland, McGuire, and Gill [00:14:33] - Circan Report on U.S. Video Game Spending for July 2025...
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Krafton’s response to the Unknown Worlds lawsuit hinges on one key element: the interpretation of the Equity Purchase Agreement. Also, lots of earnings, Roblox is under fire from the state of Louisiana, an update on the growing censorship of Steam and Itch.io, and more. You can support Virtual Economy’s growth via our and also purchase! TIME STAMPS [00:00:48] - Correction: Thunderful Share Price at Time of Atari Purchase [00:02:35] - Sony Q1 FY25 Earnings [00:05:24] - Paradox Q2 FY25 Earnings [00:07:26] - Take-Two Q1 FY26 Earnings [00:08:54] - Remedy Q2 FY25 Earnings [00:11:25] -...
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INT. POSH HOTEL SUITE - DAY TENCENT: Hey, Sony. Can we make a Horizon game? SONY: Nah. We good. TENCENT: Oh okay. Bummer. <ONE YEAR LATER> SONY: WHAT THE F—- <fin> So yeah… Sony is suing Tencent for what it calls a “slavish clone” of Horizon: Zero Dawn. Bold move! Also: EA, Microsoft, Capcom earnings, an update on the Mastercard/Visa censorship of legal game content, and more. You can support Virtual Economy’s growth via our and also purchase! TIME STAMPS [00:00:30] - Some News From Us! [00:05:21] - An Update on the Conservative Assault on Steam and ...
info_outlineAtari 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 Ko-Fi and also purchase Virtual Economy merchandise!
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 and full year FY24 Earnings
- [00:47:13] - Investment Interlude
- [00:59:33] - Quick Hits
- [01:04:26] - Labor Report
- [01:08:25] - FAFO
SOURCES
- FY2023 Consolidated Financial Results | Sony
- Consolidated Financial Results for the Fiscal Year Ended March 31, 2024 | Square Enix
- UBISOFT REPORTS FULL-YEAR 2023-24 EARNINGS FIGURES | Ubisoft
- Take-Two Interactive Software, Inc. Reports Results for Fourth Quarter and Fiscal Year 2024 | Take-Two
- EMBRACER GROUP PUBLISHES INTERIM REPORT Q4 | Embracer Group
- CHANGE OF CFO AND DEPUTY CEO IN EMBRACER GROUP AB | Embracer Group
- Mighty Kingdom Is Laying Off 28% of Staff | Mighty Kingdom (@MightyKingdom) on Twitter
- Major Layoffs at Phoenix Labs | Nicole Carpenter (@sweetpotatoes) on Twitter
- Fragbite Group files bankruptcy for Fall Damage months after purchasing it | Game Developer
INVESTMENT INTERLUDE
- ATARI ACQUIRES INTELLIVISION BRAND | Atari
- Steel City Interactive raises £15m in funding | GamesIndustry
- Former Deviation Games devs form new Sony studio | Eurogamer
- Playmob acquired by PlanetPlay parent to create new green video games powerhouse | PR Newswire
- ACTIVISION ANNOUNCES ELSEWHERE ENTERTAINMENT | Activision
- ‘Typical Gamer’ Andre Rebelo Launches ‘Super Studio’ Gaming Company JOGO With $2 Million Investment Into ‘Fortnite’ Content | Variety
- Relic partners with investment firm to go fully indie again | Game Developer
- Amazon Games expands global footprint with new development studio in Romania | Amazon Games
Note: The Suez Crisis actually took place in 1956, not in 1952. Now, I bet you're wondering why this note is here. GUESS YOU'LL HAVE TO LISTEN TO THE SHOW, FRIEND!