Game Platform Roblox Goes Public, Now Valued at $45 Billion

Gaming platform Roblox went public on Wednesday and saw its shares rise from a reference price of $45 to $69.50, valuing the company at $45 billion. A year ago, the company was valued at $4 billion. The NPD Group reported that a record-breaking $56.9 billion was spent on gaming in the U.S. in 2020, up 27 percent from 2019. Sony enjoyed a 62 percent rise in profit, and Microsoft recorded a first-ever $5 billion in quarterly gaming revenue. In a hot gaming market, Roblox delayed its listing to more accurately price its shares. Continue reading Game Platform Roblox Goes Public, Now Valued at $45 Billion

Google Shutters Stadia’s Video Game Development Division

Google is shutting down the Stadia division that makes exclusive games in order to “focus on building on the proven technology of Stadia as well as deepening our business partnerships,” said Stadia vice president and general manager Phil Harrison. He added that the plan is to expand “efforts to help game developers and publishers take advantage of our platform technology and deliver games directly to their players.” Alphabet debuted Stadia in November 2019 to compete with major video game console companies. Continue reading Google Shutters Stadia’s Video Game Development Division

CES Panel: The Evolution of Cloud-Streaming Games With 5G

GameSpot editor-in-chief Randolph Ramsay moderated a panel of game industry experts discussing how 5G will change that industry. “5G’s high speed and low latency will be the next big disruption,” he said. Blade Group platform evangelist Bill Rehbock spoke about his company’s Shadow PC streaming service, which provides a complete Windows 10 PC to users. “5G picks up with a minimum of where 4G left off,” he said. “5G makes hand-over [from tower to tower] so robust it will be an enabling technology.” Continue reading CES Panel: The Evolution of Cloud-Streaming Games With 5G

Nintendo Releases Super Mario Franchise on iPhones, iPads

Nintendo is finally releasing its super-popular Super Mario franchise to iPhones and iPads. Although the Super Mario games have been available on Nintendo portable devices since the early 1980s, this marks the first time that the company has released them to mobile devices made by another company, in this case Apple. With more than a half-billion copies sold since he first appeared in “Donkey Kong” in 1981, the iconic mustachioed plumber is believed to be the best-selling game franchise ever. Continue reading Nintendo Releases Super Mario Franchise on iPhones, iPads

ELeague Broadcasts Gaming Competitions on TBS and Twitch

Turner and WME|IMG’s new gaming league ELeague, which began showing “Counter-Strike: Global Offensive” competitions via online video streaming service Twitch, will now debut the winning teams this Friday at 10 p.m. on national cable TV channel TBS. This is the latest attempt to bring eSports to TV, including one by DirecTV, which failed to gain traction. The trick to make it succeed is to translate eSports “online sensibility” to television, bringing some of its 214 million 18-to-25 year old viewers along for the ride. Continue reading ELeague Broadcasts Gaming Competitions on TBS and Twitch

Free ‘League of Legends’ Game May Make $1 Billion This Year

The world championship for the biggest e-sport in the world, “League of Legends,” starts in South Korea this weekend. About 40,000 fans are expected to fill the stadium to watch the tournament live while at least another 30 million will watch the games online. Riot Games runs the League of Legends World Championship along with the online broadcasting, and by producing a premium sporting experience for players, Riot Games may make upwards of $1 billion in 2014. Continue reading Free ‘League of Legends’ Game May Make $1 Billion This Year