Our Industry News   (03/06/24 - 09/06/24)

Top News Items

• Summer Game Fest 2024.Geoff Keighley unveiled the 2024 Summer Game Fest last Friday to an enthusiastic audience at the YouTube Theatre in L.A. The presentation lasted two hours. Keighley initiated the event by addressing the downsizing challenges the industry has encountered this year. With a preview of the content to be showcased during the event, he shared the news that the industry is receiving a boost with the launch of several new AA IP.
  

• The GameStop share price rollercoaster ride continues to provide entertainment. Keith Gill (also known as Roaring Kitty) has been active on social media, announcing his intention to join the GameStop board and encouraging his fans to recreate the 2021 short squeeze. This bold move has garnered attention, leading to the creation of several documentaries and a Hollywood film. Last week witnessed a surge in the share price from a low of $26 to a high of $61 (a 134% increase) before plummeting back to $27 within a single day!

• Regrettably, more job cuts have been reported. Take-Two is considering closing or potentially selling its indie-focused publishing label, Private Division, following layoff news affecting almost all Private Division staff. Behaviour Interactive, the studio behind Dead by Daylight, is set to reduce its workforce by an additional 95 employees (from 1300), in addition to the 60 job eliminations from earlier this year. Avalanche, the developer of Just Cause, is closing two of its five offices, one of which was operational for less than 12 months.

• Sony is set to launch an adapter for its PS VR2 headset, allowing it to be used with PCs. The adapter will be available on 7th August for $60. While most PS VR2 games can be played using the adapter, it will not support the headset’s eye tracking motion. Sony appears to have shifted away from actively supporting its VR business. There are no immediate plans for a PS VR3 release!

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      Week commencing Monday 3 June 2024