Buoyed by increased sales of its Switch console, Nintendo reported operating profit of $2.2 billion (229.7 billion yen), its best quarterly earnings since 2008. Analysts previously estimated the quarter’s earnings at 189.6 billion yen. Nintendo raised its annual forecast, again, to a sale of 26.5 million Switch units, up from 24 million. It also pegged its operating profit forecast 24 percent higher, due to increased sales during the COVID-19 pandemic and hit game “Animal Crossing: New Horizons.” Continue reading Nintendo Raises Forecasts Following Strong Holiday Quarter

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. Continue reading Game Consoles See Revenue Growth with Digital Distribution

In the past two years, nearly every major gaming and technology company has debuted a cloud gaming service, from Microsoft’s xCloud and Sony’s PlayStation Now to Google’s Stadia, Nvidia’s GeForce Now and Tencent’s Start. Even Amazon and Facebook are reported to be considering launching cloud gaming units. Behind the scenes, many experts said that, as cloud gaming grows in popularity, the result could be a so-called infrastructure arms race. Worldwide, there are approximately 2 billion gamers. Continue reading Pricey Infrastructure Necessary for Success in Cloud Gaming

According to Newzoo, in 2020 the globe’s 2.7 billion gamers will spend $159.3 billion on mobile, PC and console games, representing 9.3 percent growth from 2019. The game market is on track to exceed $200.8 billion in revenue by 2023, with growth of 8.3 percent per year. The COVID-19 shutdown and the release of new consoles by the end of the year are the biggest contributing factors to growth. Some game developers also note that, during the pandemic, older players of casual games are reactivating accounts. Continue reading Mobile, PC and Console Gaming Skyrocket During Pandemic

Google is offering free gaming on Stadia, which ordinarily costs $130 for a game controller, Chromecast streaming device and game access, opening access to millions of people in 14 countries. With most people now confined to their homes, gaming has shot up, and even the World Health Organization has gotten into it, supporting a game industry initiative dubbed #PlayApartTogether. By making Stadia free, Google may also gain ground in cloud gaming against its competitors Amazon, Microsoft and Nvidia. Continue reading Google Offers Free Access to Stadia, Limited Pro Tier Games

In the wake of the coronavirus and subsequent school closures and remote working policies, more Americans are gaming than ever before. According to third-party database SteamDB, Steam — the most popular PC gaming marketplace — drew a record-breaking 20,313,451 concurrent users. The top game was “Counter-Strike: Global Offensive,” released by Valve in 2012, which broke its own peak numbers on Sunday with 1,023,2290 concurrent players. Verizon also reported that game traffic soared 75 percent from the previous week. Continue reading Video Game Usage Soaring as People Are Confined to Home

The Entertainment Software Association announced that E3 2020, slated for June 9-11 in Los Angeles, has been canceled. “After careful consultation with our member companies regarding the health and safety of everyone in our industry — our fans, our employees, our exhibitors and our longtime E3 partners — we have made the difficult decision to cancel E3 2020,” explained ESA in a statement. “Following increased and overwhelming concerns about the COVID-19 virus, we felt this was the best way to proceed during such an unprecedented global situation.”  Continue reading E3 Joins Growing List of Canceled Media & Technology Events

After missing estimates for quarterly profit and full-year earnings predicted to be short of expectations, Nintendo shares fell as much as 4.7 percent, the biggest intraday drop since April 26. Nintendo reported disappointing operating income for the quarter ending in December: 168.7 billion yen ($1.5 billion) versus the 175.4 billion yen average projection. Wall Street has also projected slowed growth for major video game publishers that are holding back on new releases until new consoles have debuted. Continue reading Nintendo Shares Fall, Game Publishers Stall on New Titles

Niantic, developer of “Pokémon Go,” is capping a profitable 2019 for the augmented reality game by improving its competitive battle system. The first step is the introduction of Pokémon Go Battle League, which adds a new structure to the Trainer Battle System enabling players to compete against one another from around the globe. Pokémon Go Battle League is slowly debuting around the world. In additional gaming news, Sensor Tower notes that Nintendo’s mobile games have earned $1 billion in revenue, starting with “Super Mario Run” in 2016. Continue reading Pokémon Go Battle League: Niantic Ramps Up Global Play

Gaming is available across multiple devices (such as consoles, phones, tablets, PCs) and numerous services, including Google Stadia and Microsoft Project xCloud, and subscription mobile gaming from Apple and Google. Most of the latest offerings have involved software and services, with new hardware releases expected for next year. For the holidays, a Microsoft Xbox One or Sony PlayStation 4 are good choices; the latest models, with better graphics and more storage than the 2013 versions, will go as low as $150 and $200, respectively, on Black Friday. Meanwhile, streaming services are improving and may replace the need for consoles among some gamers. Continue reading Google Stadia, Microsoft xCloud Advance Game Streaming

In a Federal Trade Commission workshop, Nintendo, Microsoft, and Sony, the biggest game console manufacturers, have vowed to self-impose regulations requiring video game developers to disclose the odds for loot boxes. The FTC is looking at loot boxes, a system in which players buy “random” packages of in-game items without knowing the odds of getting items they actually want. The trade group Entertainment Software Association (ESA) plans to add warning labels and other policies related to loot boxes. Continue reading Game Industry Takes Steps to Address Loot Box Concerns

Nintendo just unveiled the Switch Lite, designed as a handheld version, priced at $199 and due out September 20. The new unit, which will cost $100 less than the original, won’t be able to connect to the TV and its Joy-Con controllers are built-in. According to Nintendo of America president Doug Bowser, the two systems “complement each other and co-exist in the marketplace.” The new unit is also much lighter and, with built-in controllers, feels more robust. A d-pad replaces the original directional buttons. Continue reading Nintendo Reveals $199 Switch Lite with Built-In Controllers

According to market research company Newzoo, the United States is on the cusp of becoming the world’s top gaming market at $36.9 billion, the first time since 2015, and supplanting China. Newzoo said its forecast isn’t due to the 2018 freeze on gaming licenses in China, but rather is a reflection of “new console users and in general massive growth in console spending” on both Sony PlayStation and Microsoft Xbox. Newzoo senior market analyst Tom Wijman points out that about 50 percent of U.S. game revenues come from consoles. Continue reading Newzoo Forecasts U.S. Will Top Gaming Market This Year

The top 25 public game companies, which represent almost 80 percent of the $134.9 billion worldwide gaming market, generated $107.3 billion in revenue in 2018. According to researcher Newzoo’s Global Games Market Report, this marks the first time that the top 25 companies have surpassed $100 billion in a single year. China’s Tencent ($19.7 billion) took the No. 1 spot for the sixth consecutive year, followed by Sony ($14.2 billion), Microsoft ($9.8 billion), and Apple ($9.5 billion). Collectively, the top 10 companies experienced 19 percent growth last year. Continue reading Top 25 Game Companies Generated $107 Billion Last Year

As soon as this summer, said sources, Nintendo will introduce two new version of its Switch gaming consoles, which is entering its third year in the market. One new version will target gamers with relevant features, although hardware suppliers and Nintendo developers — who have access to a prototype — said it will not be as powerful as Sony’s PlayStation 4 Pro or Microsoft’s Xbox One X. The second version is aimed at casual gamers, and is intended as a replacement to its 3DS device, said the same sources. Continue reading Nintendo to Introduce Two New Switch Versions for Gamers