The company behind the Korean chat app KakaoTalk has secured a total of KRW140 billion (~$130 million) for its game-facing business, Kakao Games, thanks in no small part to investments from Tencent. Black Desert Online dev Kakao Games plans to use the fresh funds to secure high-quality titles for future release in addition to strengthening its internal development capability, expanding its global business, merging and acquiring companies, and taking part in other investments geared towards growth. The bulk of that $130 million investment came indirectly from the Chinese tech giant Tencent. Two Tencent subsidiaries, Aceville Pte Ltd and DianDian Interactive Holding, contributed to the funding round in addition to the Tencent-backed dev Netmarble Games. Additional funds came from Premier Growth Strategy and fellow South Korean game devs Actozsoft and Bluehole. Broken down, the Tencent subsidiaries and Netmarble contributed roughly KRW50 billion (~$46.9 million) each. … [Read more...] about Chat app-maker Kakao secures $130M investment for its game business
Game business
Xbox One X drives increase in Microsoft games revenue
Microsoft published its earnings report today for the quarter ended December 31, showing an increase in games-related revenue driven by higher sales of Xbox hardware and services. The company said total games revenue for the quarter was $3.9 billion, an increase of 8 percent compared to the same quarter a year prior. Microsoft attributed the growth to sales of the new Xbox One X, which launched in November last year, and growth in Xbox Live. Microsoft's games business is under its "more personal computing" segment, which reported $12.2 billion in quarterly sales, a 2 percent increase in revenue year-on-year. Operating income for the segment, which includes search advertising, phone, and Surface sales, was $2.5 billion, a 2 percent drop. Company-wide, Microsoft reported quarterly revenues of $29 billion, a 12 percent year-on-year increase, with a GAAP net loss of $6.3 billion. … [Read more...] about Xbox One X drives increase in Microsoft games revenue
Microsoft reports increase in games revenue
Microsoft published a financial report today for its last quarter which ended December 31st, showing an 8% increase in games revenue driven by higher profit from Xbox hardware and Xbox software and services. That puts games revenue for the quarter at $3,902 billion, whereas last year it was $3,617 billion. Microsoft's games business is within their more personal computing division, which reported a 2% increase in revenue since last year, reporting $12.2 billion in total. This growth might be attributed to the launch of the Xbox One X, as Xbox hardware revenue had increased by 14%. Xbox software and services revenue increased 4%, primarily due to Xbox Live revenue growth, offset in part by a decrease in revenue from the prior year launch of video games. … [Read more...] about Microsoft reports increase in games revenue
Xbox Game Pass Adding New Microsoft Games Is a Massive Value Proposition; Likely Good for Everyone
Today, Microsoft announced that going forward its Xbox Game Pass subscription service will include new first-party games from Microsoft Game Studios day and date with their retail release. This means that paying as low as $9.99 a month, or the price of a full game ($59.99) every semester, Xbox One users will be able not only to enjoy a large number of older (but still definitely valuable) games like Halo 5: Guardians and Gears of War 4, but also brand new titles like Sea of Thieves, Crackdown 3, State of Decay II, the upcoming new Halo, Gears of War, Forza, and more. Of course, that access will be limited until each game gets rotated out of the lineup, and then you need to purchase them at a 20% discount if you want them forever, but many play new titles only close to their release, so that isn’t such a restrictive caveat. This is without a doubt a massive value proposition from Microsoft. Basically, customers interested in Microsoft’s biggest games can … [Read more...] about Xbox Game Pass Adding New Microsoft Games Is a Massive Value Proposition; Likely Good for Everyone
What the game industry thinks of Nintendo’s Switch
Four days from today, Nintendo's latest console will go on sale. A little over four years since the launch of Wii U, a little over four months since Nintendo announced Switch, and to many, the system seems like a breath of fresh air — a game console Transformer full of potential with a steady stream of software to back it up. To some, though, the system seems incomplete. From early reports of controllers that don't properly sync to a limited launch lineup, a lack of non-game apps like Netflix, a missing Virtual Console library and lingering questions about the online service, there's a simplicity to Switch's launch that recalls the '90s — Zelda is Mario 64, and if you don't want that or a few other games, you might not need the system right away. In time, Nintendo will address those issues. Yet more than most consoles, Switch remains a bit of a mystery at launch. Are motion controls going to be a big part of it? What type of player will Switch developers cater to? And will … [Read more...] about What the game industry thinks of Nintendo’s Switch