News Mash-Up - Week #21

• • Sony released a 73 minute showcase promoting 33 games. Just ten games were PlayStation exclusives, five of which were for the PS VR2. One of the AAA classified games ( Alan Wake 2) was to have a digital release only on the PlayStation.  Additionally, Sonny unveiled a streaming handheld codenamed Project Q. 
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  • Embracer Group’s share price crashed by -40% after a $2B deal. They stated that the proposed deal which has been in negotiation for seven months would have “ set a new benchmark for the gaming industry”. Given this deal, the company has postponed several game releases and cut its adjusted profit forecast to 7-9B $. Additionally, Dead Island 2 was marked as one of the biggest launches within the Embracer Group. By the fiscal year 2023, there was a significant increase in both total revenue and net sales. The company’s operating income EBIT also increased by +42% to $497M. 
    
    
  • Nvidia’s share price rocketed by +27%. As per Yahoo Finance, if the gains in Nvidia hold, the company’s market value would mark the biggest one-day rise in history,  adding an extra $200B to the company’s value. It all comes down to the future growth in AI technology that will require Nvidia cards. Nvidia has a huge impact on video games given that it is the world’s largest GPU manufacturer.
    
    
  • Sony has claimed that the first six weeks in market for the PS VR2 have outsold those for the PS VR by 8%.
    
    
  • Nintendo’s legal standing was questioned as it issued Valve with a DMCA takedown notice, which in turn blocked the company from releasing the Dolphin Emulator.
    
    
  • PEGI has fined Activision Blizzard and Plaion €5K each for not disclosing the presence of loot boxes in two games during the ratings process.
    
    
  • Logitech released its handheld streaming device, the Logitech G Cloud. With its numerous features, it could make Sony’s entry in this space with Project Q quite difficult.
    
    
  • Lord of the Rings-Gollum was badly received by critics and gamers alike, and the company apologized publicly on Twitter. 
    
    

Week commencing Monday 22 May 2023