July 6, 2009 |
To video game publishers, Mark Weiner is both a dream come true and a nightmare. The 23-year-old San Francisco Bay Area operations analyst likes to pounce on the latest blockbuster releases. He spends dozens of hours a week playing a wide range of titles. "I am passionate about games," he said. This should be good for game companies such as Activision Blizzard Inc., Electronic Arts Inc. and Ubisoft Entertainment, which publish many of the titles Weiner likes to play. But it's not welcome news.
June 12, 2009 |
Consumers, daunted by the recession, hit the pause button on buying video games in May. The game industry last month racked up $863.3 million in sales of games and consoles, the first time since August 2007 that monthly sales came in less than $1 billion, according to a report released Thursday from market research firm NPD Group Inc. Sales of game consoles took a big hit last month, dropping 30% to $302.5 million from $433 million in May 2008.
May 6, 2009 |
Video game publisher Electronic Arts Inc. posted a smaller net loss for its fourth quarter as the company continued to slash costs in a quarter with fewer hit game launches. Redwood City, Calif.-based EA also reaffirmed its guidance for the current fiscal year, and Chief Financial Officer Eric Brown said the company was "ahead of schedule" on its cost-cutting measures that include eliminating 1,100 jobs. EA posted a loss of $42 million, or 13 cents a share, less than half the loss of $94 million, or 30 cents, in the same period a year earlier.
April 17, 2009 |
Sales of video games plunged 17% in March as shoppers found fewer blockbuster titles to choose from this year than last, according to a report Thursday from the NPD Group Inc. "This industry is driven by hits," said Jesse Divnich, director of analytical services with Electronic Entertainment Design and Research. "It just so happens that there were fewer hits last month than there were [in March] last year."
March 25, 2009 |
Shoppers are buying an increasing amount of their music and movies via Web downloads. But video game sales remain firmly rooted in old-fashioned stores because many games require enormous software files that can take hours to download. That's now poised to change. One company, OnLive Inc., showcased one such effort at the Game Developer Conference on Tuesday night. The service promises to let players buy or rent the latest games and start playing within seconds on their television or computers.
November 6, 2008 |
The video game industry's rising tide has not lifted all boats. Activision Blizzard Inc. on Wednesday posted a doubling of quarterly revenue and predicted strong holiday sales. But THQ Inc., whose games have failed to connect with players recently, said it would slash 250 jobs, or 17% of its developers, as it cancels projects and closes five development studios across the country.
October 27, 2008 |
Nintendo Co.'s sales are speeding along faster than a getaway car, shrugging off economic woes as if they were bugs on the windshield. Its Wii video game console continues to be sold out in many stores. Sales of its DS hand-held console remain hot despite its being a 4-year-old product, ancient by game-technology standards.
June 13, 2008 |
U.S. video-game sales increased 41% in May, led for a second month by Take-Two Interactive Software Inc.'s Grand Theft Auto IV. Consumers purchased 1.31 million copies of the game at U.S. stores last month, Port Washington, N.Y.-based researcher NPD Group Inc. said. Video-game hardware sales rose 34%, led by Nintendo Co.'s Wii. Grand Theft Auto IV may generate more than $1 billion in sales by year-end, Janco Partners analyst Mike Hickey said in a note to investors.
May 9, 2008 |
Activision Inc.'s revenue shot to the top of the charts in its fourth quarter, driven by the steady drumbeat of sales of its "Guitar Hero" video game franchise, the Santa Monica company said Thursday. Sales nearly doubled to $602.5 million in the quarter that ended March 31, up from $312.5 million in the year-earlier period and far exceeding the company's forecast of $365 million. Activision swung to a profit, earning $44.2 million, or 14 cents a share, compared with a loss of $14.