Tag: Business - Page 1
News Sony Shakes Up Corporate Ladder by Promoting Exec Obsessed with Growth
On the up
A barnstorming quarter – which generated a record-breaking $9.6 billion in revenue for the PlayStation division alone – has prompted some shake ups within Sony’s upper-management hierarchy. CFO Hiroki Totoki has been promoted to president, active from 1st April, which marks the beginning of the next financial year. Potentially with...
News Sony and Bungie Will Create a Live Service Centre of Excellence Once Acquisition Closes
New department to oversee PlayStation's fresh direction
One of the things lost in Sony’s investor relations report last week, and brought back to our attention by ResetEra, is the company’s integration plan for acquisition target, Bungie. While the deal is yet to close, the platform holder expects the ink to b
News Juggernaut Publisher EA Planning to Sell or Merge
On the chopping block
How do you like your industry consolidation? We’re not convinced it’s in the best interest of gamers for a handful of conglomerates to own every major developer and publisher, but that’s the path we’re quickly hurtling down – and it looks like even EA is on the market. A report by Puck claims the juggernaut recently...
News Despite FTC Investigation, Sony Expects Bungie Acquisition to Close This Year
And that'll be that
Here’s your weekly reminder that, yes, Sony is still buying Destiny developer Bungie. While the iconic studio will remain largely independent, the platform holder hopes that the purchase will help inform its output on numerous upcoming live service games. And while the billion dollar buyout is
News 'Multiple Sources' Said Sony Is Buying Square Enix, Allegedly
But who knows, huh?
Remember when there was big chatter about a Sony acquisition, specifically from industry veterans Jeff Grubb and Greg Miller? Both were talking about Square Enix. “When I talked about the three rumours I’d heard, and one was an acquisition, this is the one I’d heard,” Miller finally revealed on an episode of his
News Sony Dumps Funds into Live Service Software Firm
PlayStation splurges on tech startup
Sony loves live service games. We’re yet to see the fruits of its labour, but apparently it has ten Fortnite-esque ongoing online multiplayer games in production – and it just spent billions buying Bungie and investing into Epic Games. Now the platform holder’s put its hand in its pocket once more, invest
News As Bargain Bin Tomb Raider Goes to Embracer, PlayStation Seeks Acquisition Expert
Responsible for driving long-term value for firm
Is anyone else surprised Sony seemingly wasn’t in the market for Square Enix’s western studios, specifically Crystal Dynamics and the Tomb Raider franchise? The company may have Uncharted these days, but Lara Croft is still a top ten globally recognised gaming icon, and the character would fit...
News Sony to Open Bumper New Office in Liverpool, UK
You'll never walk alone, etc
Liverpool, UK: the city of The Beatles, Cilla Black, and meaning more. It’s also the home to some of Sony’s central operations, including its XDEV division which works with external developers on PlayStation Studios projects. But now it’s moving to a new office, having been situated at Wavertree Technology Park...
News Sony Pictures Offloads Game Studio for $1 Billion
Jackpot
Sony Pictures Entertainment acquired the Game Show Network in 2019, and part of the purchase included a subsidiary called GSN Games. This division was assigned the task of developing online and mobile gambling games, including slots inspired by Wheel of Fortune. But, perhaps recognising the studio no longer fits its portfolio, the Japanese...
News Sony Completes Acquisition of Anime Giant Crunchyroll
Company looks to unify its anime business
With the deal having reportedly been under US Justice Department review earlier this year, there was debate over whether Sony would actually complete its acquisition of anime platform Crunchyroll. The buyout was officially announced back in December 2020, and now, the Japanese giant has confirmed that the...
News Sony Is Absolutely Flying Financially Right Now
Bumps profit forecast
Ex-PlayStation boss Kaz Hirai has long since retired from his role as Sony CEO, but every quarter his work comes into focus a little bit more. For a man who has been memed for the last decade or so, he completely transformed the Japanese firm’s fortunes, and has set it on the positive path it’s currently on. No, it can’t...
News Warner Bros' Gaming Division Will Be Broken Up As Part of Merger
What a Joker
The future of Warner Bros gaming division has been plunged into uncertainty once more, as AT&T is unloading its media business as part of a $43 billion merger with cable company Discovery. The arrangement is complicated – and won’t be completed until mid-2022 should shareholders agree – but it will effectively see the...
News Sony's $1.1 Billion Buyout of Crunchyroll to Face Further Scrutiny
Concerns over company's anime monopoly
Sony’s goal of dominating the anime sector may be delayed or derailed, as reports suggest the US Justice Department has extended its anti-trust review into the Japanese conglomerate’s acquisition of Crunchyroll. The organisation announced plans to
News Sony Plots Highest Ever Profits As Transition to Entertainment Pays Dividends
Anime, gaming, and music doing big business
Sony may be known historically for its tech products like televisions and the Walkman, but the company has slowly been transitioning towards entertainment for years. And while its electronics business has been faring well recently – posting a ~$1.06 billion profit for the quarter ending 31st December –...
News Sony Poised to Purchase Crunchyroll for Almost $1 Billion
It's over $900 million
Sony’s expressed interest in making anime a core pillar of its business, so it’s no surprise to see reports that the organisation is poised to purchase streaming service Crunchyroll. Nikkei Asia reports that the organisation is in final negotiations to nail an acquisition valued at around $957 million, which would make it...
News PlayStation Signs Strategic Partnership with Spanish Football Team Real Madrid
¡Hala Madrid!
Among the English-speaking media, it often gets forgotten just how much of a juggernaut PlayStation is outside of the USA and UK, but the brand is an absolute beast – particularly in continental Europe. Ahead of the PlayStation 5’s launch, Sony’s looking to consolidate its position in Spain by signing a strategic partnership...
News Microsoft Ponders More Video Game Company Acquisitions
It'll all end in tears
Microsoft has bottomless pockets, and in the aftermath of its Bethesda acquisition, it looks to be reaching deep. The worry, of course, is that things could escalate both dramatically and rapidly – with other publishers potentially purchased by giants like Google, Tencent, Apple, and the aforementioned Redmond juggernaut...
News Sony Wants to Conquer the Anime World Next
And PlayStation is part of its plan
Sony has slowly shifted from consumer electronics to entertainment over the past decade, and it’s aiming to add anime as its fourth major pillar, alongside music, movies, and, of course, games. The Japanese giant already has a sizeable anime department, with subsidiary Aniplex overseeing the Demon Slayer series...
News Leyou Technologies Halts Trading Ahead of Possible Sony Takeover
Tencent already in talks
Less than 24 hours after announcing a $250 million cash injection into Fortnite developer Epic Games, Sony may be due another round of business talks. Leyou Technologies, the Hong Kong company that has been linked to a potential acquisition by the Japanese giant,
News Sony Considering Bid for Warframe, Brink Developers
Could buy Hong Kong-based holding company
According to Bloomberg, Sony is considering a bid for Hong Kong-based holding company Leyou Technologies, which owns Warframe developer Digital Extremes. The group also lists Brink creator Splash Damage among its subsidiaries, and has a significant stake in support studio Certain Affinity. The multiplayer...
News As The Witcher Rules Netflix, CD Projekt RED Signs New Deal with Author
Bewitching business
CD Projekt RED has signed a new deal with The Witcher creator Andrzej Sapkowski, which will no doubt see the author get paid. The announcement follows the release of the Netflix show, which is taking the world by storm right now. As it stands, the Polish developer will now maintain full control of the intellectual property as it...
News PlayStation Propels Sony to Best Q1 Operating Profit Ever
Back in black
Sony is a much healthier company these days, and it’s posted another sturdy financial report pertaining to the three month period which ended on 30th June. PlayStation was once again the biggest financial driver, with the division helping to propel the Japanese giant to its largest Q1 operating profit results of all-time. The gaming...
News THQ Nordic Acquires Piranha Bytes, Along with Gothic, Risen, and Elex IP
Euro jank gets a boost
Another week brings another THQ Nordic acquisition. It really does feel like it happens this often now, doesn't it? This time around, the publisher has purchased Piranha Bytes and IPs the developer has worked on. This means that along with the studio itself, THQ Nordic now owns the rights to the likes of the Gothic, Risen,...
News THQ Nordic's Spending Spree Continues with Kingdom Come: Deliverance Dev
Also acquires Australian publishing partner
THQ Nordic’s making Xbox boss Phil Spencer look like a cheapskate, as it continues to flash its chequebook in the general direction of, well, anyone it sets its eyes on. A bit like Unicron from Transformers: The Movie, the publisher has been gobbling up independent developers like there’s no tomorrow...
All change at the top
He’s best known for a
News Disney Happy with EA's Work on Star Wars
Companies have a good relationship
If we’re all honest with ourselves, EA’s done a terrible job with Star Wars to date. The first game in its mammoth contract with Disney, the multiplayer-only Star Wars Battlefront, was perfectly adequate but felt undercooked. Its successor, though, Star Wars Battlefront 2, prompted one of the biggest backlashes...
News PSN Alone Generated More Revenue Than the Entirety of Nintendo in 2018
Online network also bigger than Microsoft's entire gaming division
How big is the PlayStation Network these days? The answer: very big. Sony’s online storefront generated an eye-watering ¥1,373 billion yen (~$12.5 billion) of revenue in 2018, which is more than the entirety of Nintendo during the same period. To put this in perspective: the...
News Sony Enjoys Record Quarter As Entertainment Divisions Boom
The only way is up
Sony, best known for its electronics, is gradually becoming an entertainment organisation – and its record third quarter results, spanning the three month period ending 31st December, reflect that. The company registered operating income of ¥377 billion (~$3.5 billion), with PlayStation once again leading the charge – despite...
News Hitman Developer IO Interactive Opening New Studio in Malmö
Zlatan approves
Hitman 2 may not have set cash registers on fire, but Danish developer IO Interactive is expanding to Sweden with a new studio. Based in Malmö – the birthplace of LA Galaxy striker Zlatan Ibrahimovic – the fresh team will “strengthen IO Interactive’s commitment to deliver exceptional content to the Hitman franchise,...
News Sony Acquires Audio Engineering Firm Behind Multiformat Middleware Wwise
A Wwise decision?
Sony is purchasing Audiokinetic, the company behind the multiformat middleware technology Wwise. While you’re unlikely to have heard of this software, you will have seen its logo when booting up games before as it’s very popular. Despite the buyout – which will be completed by 31st January – the company will continue to...
News Sony: We'll Bring More Enhanced Experiences and Highly Anticipated Games in 2019
Company will continue to evolve
Sony’s plans for 2019 are pretty much shrouded in secrecy so far. We know that the company won’t be attending E3 2019 and we also know that it’s got Days Gone coming out in the near future, but beyond that – well, your guess is as good as ours. Among various pieces of corporate backslapping overnight, new...
News PSN's Monthly Active Users Increase to Eye Watering 90 Million
The biggest gaming network in the world
More people than ever are using the PlayStation Network, with monthly active users topping 90 million in November 2018 according to Sony. This means that almost 100 million accounts connected to the PSN at the tail-end of last year, and while the figure is bloated by multiple users from the same console or...
News Sony Wants Music, Gaming, and Movies to Collaborate
From consumer electronics to creative company
What kind of company is Sony? Historically, there was no debate over this question: the Japanese giant made consumer electronics. These days, with 47 per cent of its revenue driven by entertainment products, the answer is less obvious. Speaking at the Consumer Electronics Show in Las Vegas, chief...
News Sony Boosts Forecasts as PS4 Closes on 100 Million Milestone
Company in extremely good health
Sony has revised its fiscal year forecast for PlayStation 4 hardware sales up from 17 million to 17.5 million, as the console has reached 86.1 million units shipped. The staggering statistic means that the Japanese giant’s current console is in roughly the same ballpark as the PlayStation 3’s lifetime total –...
News Sony Wants 100 Per Cent of Its US Operations to Be Powered by Renewable Energy
And it's aiming for 2030
We all need to be thinking about conserving energy, but it’s especially crucial that companies run their operations responsibly and in a more environmentally friendly manner. Sony was recently given a very poor D-rating by Greenpeace in a tech report, after it relied on just five per cent renewable energy to power its...
News PS4 Closes on PS3 As Shipments Cross 82.2 Million Units
Sony increases forecast as profits soar
Sony shipped 3.2 million PlayStation 4 consoles in the fiscal period spanning 1st April through 30th June, meaning that the system has now hit a grand total of 82.2 million units since its launch almost five years ago. That puts it close to the PlayStation 3’s last ever reported number of 83.3 million – a...
News Ubisoft Fights Off Vivendi Vultures Once and for All
Flawless boardroom victory
Ubisoft has countered Vivendi’s attempted hostile takeover with a flawless boardroom victory that will see it buy back a whopping 30,489,300 shares. The move will see Tencent invest in the French publisher, as it attempts to leverage the firm’s intellectual property in its native China. More importantly, Vivendi will...
News Sony Doubling Down on PlayStation Exclusives in Corporate Reshuffle
First-party more important than ever
Sony has reiterated its commitment to first-party franchises as part of an organisational reshuffle that will see some of its most forward-facing executives promoted up the corporate ladder. Shawn Layden, who will continue to front Sony Interactive Entertainment America and act as the Chairman of Worldwide...
News Retrace the Steps Leading to EA's Star Wars Loot Box Scandal
Andrew Wilson's ultimate dream
Most of the videos about Star Wars Battlefront 2 and loot boxes are basically just ‘Tubers screaming obscenities into Blue Yeti microphones, but this one by Skill Up is ten times more damning: it includes actual research. The 25 minute clip is a little on the long side, but it packs some fascinating info, retracing...
News Belgium Reckons Loot Boxes Are Gambling, Wants Them Banned in Europe
Declares the mix of gaming and gambling dangerous
Just another reason to pull the plug on Brexit: Belgium’s Gaming Commission has declared loot boxes to be a form of gambling – and it wants to ban them across Europe. News comes courtesy of VTM (via PC Gamer), with the verdict of a recent investigation determining that loot boxes are indeed a...
News The Story of Kaz Hirai, Sony's Oddball CEO, Is Worth Reading
The suit who saved Sony
Sony was a bruised behemoth when Kaz Hirai took the helm in 2012; the company is now on the verge of recording its best-ever financial performance since all the way back in 1998. The former PlayStation president has completely transformed the juggernaut’s fortunes, then – but what is the secret to his success? A brilliant...
News EA Acquires Titanfall Developer Respawn Weeks After Shutting Visceral
Acquisition fee could rise as high as $455 million
Electronic Arts has acquired Titanfall developer Respawn Entertainment for a fee which could rise as high as $455 million. The news comes just weeks after the publisher closed down Dead Space developer Visceral Games and handed its troubled Star Wars project to its EA Motive team. While both EA and...
News Telltale Culls a Quarter of Its Staff As It Refocuses on Quality
The staff will remember that
Telltale has cut a quarter of its staff, amounting to about 90 of its full-time employees. The cuts come as the company begins a “comprehensive restructuring” that it hopes will make it “more competitive as a developer and publisher of ground-breaking story-driven gaming experiences”. Basically, it wants to make...
News Hob, Torchlight Developer Runic Games Is No More
Hob gone
Torchlight developer Runic Games has been shuttered by parent company Perfect World Entertainment – and there’s a pun in there somewhere which probably isn’t appropriate to use. Anyway, the studio most recently released the likeable – but, ultimately, overlooked – Hob on the PlayStation 4. It is, however, no more. “I'm sorry to...
News Housemarque Canning Coin-Op After Commercial Flops
Arcade is dead
Housemarque is renowned for its arcade games, but the Finnish developer is moving on from the kind of coin-op experiences you’d typically associate with the company. Writing on its website, CEO Ilari Kuittinen explains that despite high reviews for releases like Nex Machina and Resogun, the studio’s games don’t sell in...
News Sony Is in the Best Financial Shape It's Ever Been In
Expecting record profits
Sony is still on track to record its most profitable year on record, which is mind-boggling when you consider the state the company was in just a few years ago. Ever since Push Square started we’ve been reporting on the Japanese giant’s dire financial straits, but former PlayStation president Kaz Hirai has completely...
News Sounds Like PlayStation's New Boss Is a Fan of Microtransactions
Exploring in-game purchases for exclusives
Uh oh! PlayStation president Andrew House departed recently and has been replaced with John Kodera, a Sony veteran whose previous roles include running Sony Network Entertainment. He’s largely a services guy, which bodes well for future expansion of the oft-maligned PlayStation Network – but it also...
News PS4 Has Shipped 67.5 Million Units, Sony Increases Forecast
Expects PS4 to match PS3's install base in half the time
Sony has shipped a dizzying 67.5 million PlayStation 4 consoles as of 30th September, the manufacturer’s latest financial results reveal. The organisation moved an impressive 4.2 million units in the quarter spanning 1st July to 30th September, meaning that it’s once again up...
News Microsoft Says Single Player Games Are Becoming Complicated
It's complicated, man
Sony’s portfolio is flooded with primarily single player experiences, but as part of a wider discussion regarding the future of solitary releases, Xbox Publishing boss Shannon Loftis believes the economics are becoming increasingly complicated. Speaking with GameSpot, she noted how gamers’ insatiable demand for better...
News Sony Doesn't See Much Potential in Portable Platforms
Game over
Don’t hold your breath for a new portable PlayStation platform, as Sony has suggested that it doesn’t see much potential in the handheld market. Speaking with Bloomberg, group president Andrew House explained that the company doesn’t see a “huge opportunity” for the sector outside of Asia, and that it’s focusing on living room...
