News Formal

Gaming industry's fortunes fade as spending squeeze follows pandemic bump

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 66%

Belgique Nouvelles Nouvelles

Belgique Dernières Nouvelles,Belgique Actualités

Gaming companies are facing a slowdown in demand for video games from pandemic highs, raising doubts about their ability to weather an economic downturn.Rising prices and a lack of hit titles have added to problems for video game publishers Activision Blizzard Inc and Electronic Arts that are also battlin

Gaming companies are facing a slowdown in demand for video games from pandemic highs, raising doubts about their ability to weather an economic downturn.

U.S. consumer spending on video games fell 11 per cent in June and is expected to decline 8.7 per cent this year, data from analytics firm NPD showed. Activision Blizzard reported smaller-than-expected quarterly profit, while rival Electronic Arts and Take-Two Interactive warned of disappointing sales ahead.

Console makers too have taken a hit as gaming revenue dropped for Xbox-maker Microsoft, while PlayStation-maker Sony cut its forecast and Nintendo posted lower sales.Gaming chipmakers are seeing a knock-on effect of the cooling demand. Advanced Micro Devices Inc said sales of its sales of graphic gaming cards fell, while Nvidia flagged a 19 per cent sequential drop in revenue.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 6. in BE

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Take-Two forecasts weak annual sales as lack of major titles hits gaming industry:Take-Two Interactive Software Inc on Monday became the latest videogame publisher to forecast weak annual sales, providing further evidence that absence of major releases and easing COVID-19 curbs have reined in the industry's growth.Shares of the New York-based company dropped nearly 7 per cent in extended
La source: ChannelNewsAsia - 🏆 6. / 66 Lire la suite »

Video gaming comes into focus for NFT industry as interest in cartoon avatars coolsAs global fervour for cartoon avatar non-fungible tokens (NFTs) cools, more companies are betting on video gaming as the NFT market's next potential growth driver even though some analysts have questioned the sustainability of such a business model. Magic Eden, a marketplace for NFTs based on the Solana blockchain, is hoping that US$27 million (S$36.8 million) of fresh funding raised...
La source: asiaonecom - 🏆 10. / 59 Lire la suite »