Industry News — Page 3 | Game World Observer

CD Projekt used Coca-Cola as reference when choosing yellow color for Cyberpunk 2077

When it comes to a brand identity, it is hard to argue that Cyberpunk 2077 has very eye-catching visuals. CD Projekt RED has now finally explained why it chose this specific shade of yellow for its latest game.

Industry News May 24

Analysts recommend selling CD Projekt shares, lowering target price to 2017 levels

CD Projekt has been struggling to recover from Cyberpunk 2077’s botched launch. Analysts have once again lowered their recommendations on the company’s share price, taking into account the Polish developer’s latest actions.

Industry News May 24

Call of Duty testers at Raven form first union at major US game company despite Activision’s pressure

Members of Raven Software’s QA team have voted to unionize following pressure from Activision Blizzard and a wave of layoffs. This will be the first official union formed at a US-listed game company.

Industry News May 23

Ubisoft unlikely to sell until its price reaches at least €60 per share, latest report claims

The talks about a Ubisoft buyout continue. A new report claims that the company’s stockholders will wait until its share price increases to accept a potential deal.

Industry News May 23

Report: Tencent employees facing mass layoffs as latest lockdowns affect Chinese tech giants’ earnings

Chinese tech companies have been conducting staff cuts, according to the latest reports. Tencent is one of the firms to lay off employees at several departments amid regulatory pressure and the impact of the latest lockdowns.

Industry News May 20

Take-Two stockholders approve acquisition of Zynga, deal expected to close next week

Take-Two has announced that its stockholders have finally approved the proposed $12.7 billion acquisition of Zynga. As a result, the mobile publisher’s shares will stop trading on the stock market today.

Industry News May 19

Report: TikTok to boost its gaming ambitions by starting tests in Vietnam

ByteDance has plans to launch more mobile titles on TikTok. The Chinese tech giant will reportedly roll out gaming in Southeast Asia later this year.

Industry News May 19

Activision Blizzard acquisition moving fast and entering its middle phase, Microsoft says

Microsoft has commented on its proposed acquisition of Activision Blizzard. The $68.7 billion deal is moving fast and now entering its middle phase, the company said.

Industry News May 19

Electronic Arts lays off up to 100 customer service staff involved in supporting FIFA 22

Mass layoffs have reportedly happened at Electronic Arts. The company fired up to 100 customer support staff, many of whom worked on FIFA 22.

Industry News May 19

Embracer Group reports annual net sales of $1.7 billion, seeing great potential in IPs like Deus Ex and Thief

Embracer Group has released a financial report for the year ended March 31, 2022. The Swedish holding company recorded revenue growth, while also sharing its further M&A plans and saying that it now has over 200 titles in its pipeline.

Industry News May 18

Andreessen Horowitz launches $600 million fund to invest in video games and metaverse

Private VC firm Andreessen Horowitz has established Games Fund One, a $600 million fund aimed solely at video games. The company will invest in developers to contribute to building the future around the metaverse.

Industry News May 18

Tencent reports no revenue growth, as gaming crackdown in China affects active player base

Tencent has released its financial report for the first quarter of 2022 (ended March 31). The Chinese tech giant recorded no revenue growth, citing a decrease in its domestic player base due to the latest game-related restrictions in the country.

Industry News May 18

Sony to join metaverse buzz by offering more live service games and adopting cross-platform strategy

Sony might be the next tech giant to offer its own approach to the metaverse. The company plans to evolve its gaming business and adopt a cross-platform strategy ahead of potential changes in the market.

Industry News May 17

Report: Wargaming plans to relocate up to 30% of its Belarusian staff, with others facing layoffs

A few Wargaming employees have shared new details about the ongoing liquidation of the company’s office in Minsk. The answers varied from talks about mass layoffs to Minsk-based devs being offered to keep working under another legal entity.

Industry News May 17

Techland hiring for AAA next-gen RPG based on new IP and led by former CD Projekt devs

Techland has opened up about its upcoming AAA open-world action RPG based on a new IP. The untitled game’s development is led by former CD Projekt RED staff, with the company now having dozens of open positions.

Industry News May 17

Anita Sarkeesian seemingly inspired Activision Blizzard’s controversial diversity tool

New details about Activision Blizzard’s Diversity Space Tool have appeared online. One of the creators of this software opened up about the initial idea behind it.

Industry News May 17

Apple to let developers increase subscription prices without notifying users under certain conditions

Apple has made a few changes to its App Store policy regarding subscription prices. From now on, iOS developers will now be able to charge users more money without notifying them.

Industry News May 17

In-game purchases accounted for 65% of Take-Two’s annual revenue of $3.5 billion

Take-Two has shared its financial report for the year ended March 31, 2022. The company reached $3.5 billion in revenue, with the bulk of it coming from microtransactions.

Industry News May 16

Japanese studio Success establishes Hamster Department due to popularity of its hamster games

Tokyo-based Success Corporation has established a special hamster department. This means more games about cute hamsters are coming in the future.

Industry News May 16

Ukrainian studio Frogwares receives MegaGrant from Epic Games

Frogwares, known for creating a series of Sherlock Holmes games, has received the Epic MegaGrant from Epic Games. The Ukrainian studio will use this money to relocate its employees to safer areas and help the ones who have already moved to other countries in the EU.