With the coronavirus pandemic, more people are staying at home and, according to Newzoo, 700+ million of them are playing video games on consoles. The market research firm said the console industry is slated to rake in $45 billion in revenue this year. Microsoft and Sony have unveiled new consoles, and Niko Partners analyst Daniel Ahmad stated that consoles are a “much more profitable business” than a decade or more ago, especially since digital distribution of games enables the game companies to enjoy bigger profit margins than before. Read more

New Mexico governor Michelle Lujan Grisham, Albuquerque mayor Tim Keller and Netflix co-chief executive Ted Sarandos stated that the streaming giant will spend $1 billion on production spending in the state. The company plans to expand its ABQ Studios, adding 300 acres and as many as 10 stages, production offices, backlots, commissary and other buildings to the existing facilities. The increased spending will also create an estimated 1,000 production jobs over the next ten years and 1,467 construction jobs to build the studio expansion. Read more

To help businesses hold paid digital events during the COVID-19 pandemic, Apple stated that companies offering virtual events or digital classes via iPhone apps won’t have to pay the 30 percent commission fee ordinarily applied to App Store in-app purchases. This concession will extend through the end of June 2021. Apple will also reduce its commission for smaller developers. Meanwhile, Epic Games, which with other developers has been fighting Apple over its in-app commission fee, now has an ally in Nvidia. The GPU and gaming company is testing its GeForce NOW gaming platform on Apple’s iOS mobile operating system. Read more

The ongoing coronavirus pandemic has changed the holiday season in ways big and small. Macy’s Thanksgiving Day Parade is still on, but without spectators, just a sign of the times for the merchant evolving to a primary digital presence. Last month, two Macy’s stores, in Delaware and Colorado, became fulfillment centers rather than places to shop. Other retailers, among them Ralph Lauren, Gap and Clarins Group, are opening virtual stores that create a consumer experience; some are slated to stay online for months after Christmas. Read more

President-elect Joe Biden and top Democratic allies in Congress, including James Clyburn (D-South Carolina), are focused on significantly increasing federal spending on broadband to improve Internet access and affordability, especially in rural areas. The effort is more urgent as the pandemic continues, and the first step towards this goal is part of the new coronavirus stimulus package. Biden already endorsed the relief bill, passed by the House, that includes $4 billion for Internet access to low-income Americans. Read more