Tencent has invested $297 million in Guillemot Brothers Limited, the company that owns Ubisoft, maker of “Assassin’s Creed.” The Chinese game giant already had a 4.5 percent stake in Ubisoft that it can now increase to 9.99 percent. Tencent gains a 49.9 percent stake with 5 percent voting rights in the parent company. Shares of Ubisoft fell 17 percent last week when it became apparent there was no takeover in the offing. The deal is part of a strategy “to develop immersive game experiences, and to bring some of Ubisoft’s most well-known AAA franchises to mobile,” said Tencent president and CEO Martin Lau. Continue reading Tencent Holdings Sinks $297M into Ubisoft Owner Guillemot

Tencent’s nearly two-decade growth trajectory came to a halt Wednesday with a 3 percent revenue drop over the same period in 2021. The contraction marked the Chinese video game and social media giant’s first quarterly revenue decline since going public in 2004. Tencent’s April-June revenue fell by about $20 billion, the result of China’s slowing economy and sagging digital advertising revenue, as well as tighter government video game regulations and diminished consumer user spending. Prior to Q4 2021, Tencent had consistently posted double-digit — and sometimes triple-digit — growth since its IPO. Continue reading Tencent Revenue Drops 3 Percent in First Decline Since 2004

Fashion lovers now have games designed just for them, including “Drest,” which debuted in 2019, the brainchild of former editor-in-chief of Harper’s Bazaar UK Lucy Yeomans. Louis Vuitton collaborated with Riot Games on prestige skins for the League of Legends World Championship Finals and Riot is now teaming with Japanese casual wear retailer UNIQLO. High-fashion outfits from Marc Jacobs and Valentino have appeared in the video game series “Animal Crossing.” Luxury fashion brands are increasingly drawn to partake in the game industry, which made $175 billion in 2020. Continue reading Fashion Industry Leverages Games, Apps and Virtual Shows

Nvidia debuted its 28-billion transistor Ampere-based 30 Series graphics chips for PC gamers, ideal for Microsoft and Sony’s next-generation consoles to unveil by the holidays. The 30 Series GeForce RTX chips (available September 17) are comprised of the RTX 3070 ($500), 3080 ($700), and 3090 ($1,500), with second generation RTX (real-time ray tracing graphics). According to chief executive Jensen Huang, there are “hundreds of RTX games” in development, joining “Minecraft,” “Control” and “Wolfenstein: Youngblood,” which already feature RTX. Continue reading Nvidia Debuts GeForce RTX Chip Series with Lower Latency

TikTok chief executive Kevin Mayer published an open letter aimed at regulators intent on curbing its reach. After listing some of the app’s accomplishments in its thus-far short term in social media, he focused on charges critics are levying. He admitted that, “with our success comes responsibility and accountability,” but insisted that the company is made up of “responsible and committed members of the American community that follows U.S. laws.” The company has launched an effort to win over critics with increased transparency. Continue reading TikTok Counters Critics, Regulators with More Transparency

Ariel Horn and Ben Kusin, co-founders of VENN (Video Game Entertainment & News Network), plan to launch their eSports, gaming and pop culture network in July, three months ahead of schedule. To do so, they are raising $40 million, building a Los Angeles studio, hiring, and setting up creators to program from home. The 24/7 linear network is aimed at the streaming generation, including hardcore eSports fans and casual gamers. VENN already raised $17 million from Kroenke Sports & Entertainment, Riot Games co-chair Marc Merrill and Blizzard Entertainment co-founder Mike Morhaime. Continue reading Founders of eSports and Gaming Network Speed Up Launch

Market research company SuperData reported that, in 2019, the game industry grew 3 percent to $120.1 billion, of which Epic’s “Fortnite” accounted for $1.8 billion, making it the biggest game for the year. The 2019 revenue for “Fortnite” was a 25 percent drop from the previous year’s record-breaking $2.4 billion. Noting that game industry growth is cooling off, SuperData estimated that it will rise 4 percent to $124.8 billion in 2020. The data includes augmented reality, console games, eSports, mobile, PC and virtual reality platforms. Continue reading SuperData: Game Industry Generated $120.1 Billion in 2019

Riot Games co-founder Marc Merrill built “League of Legends,” a monster video game that draws up to 8 million concurrent players daily and has reaped billions of dollars. But, tired of being disrespected by the broader culture as a game maker, Merrill has come up with a way he hopes will minimize the negative judgment: expand beyond the video gaming world to produce a TV show, “Arcane.” The two “Angry Birds” films earned a combined $500 million at the box office and “Assassin’s Creed” made $240.6 million. Continue reading Riot Games to Produce Show Based on ‘League of Legends’

According to market research Newzoo, the West’s four largest eSports tournaments on Twitch and YouTube garnered 190.1 million hours of live viewership, up 6.9 percent from a year earlier. That reflected professional eSports’ ELEAGUE Major: Boston for “Counter-Strike: Global Offensive,” The International (“Dota 2”) and the Overwatch League Finals. But not all tournaments fared equally, with the largest event, the League of Legends World Championship dipping from 86 million hours in 2017 to 81.1 million hours this year. Continue reading Major eSports Tournaments Rack Up 190+ Million Live Views

In South Korea, where eSports was born, a world championship match-up between the Chinese team Invictus Gaming and European team Fnatic was watched by tens of millions of fans around the world. The two battled out the championship finals of “League of Legends” in a 50,000-seat stadium in Incheon, where the Chinese team won the championship for the first time. Riot Games’ “League of Legends” (dubbed LoL by fans), released ten years ago, is still highly esteemed in the $13 billion global gaming industry. Continue reading ‘League of Legends’ Tournament Highlights eSports Growth

Blizzard Entertainment, which pioneered competitive eSports 20 years ago in South Korea, is busily turning eSports from a game into a genuine sport. This year, the company, which employs former NBA, NFL, ESPN and Fox Sports executives, launched the Overwatch League’s inaugural season with 12 teams. More than 20,000 spectators attended finals, held at Barclays Center in Brooklyn, with the matches broadcast on ESPN. Blizzard also plans expansion franchises in cities in the U.S., Canada and China. Continue reading Blizzard Entertainment Reveals eSports Expansion Franchises

ESports is booming on college campuses; 40 colleges created “varsity” eSports programs, with full-time coaches and staff members, official arenas, player recruitment and eSports scholarships. The NCAA, the main organizing body for collegiate sports, is still mulling over whether eSports is a fit for its qualifications as a sport, even as the Big Ten, the Pacific-12 and colleges begin to look more favorably on accepting it as an athletic endeavor. Meanwhile, grassroots groups are working to create an NCAA-like organization. Continue reading Two Groups Vie to Form NCAA-Like Organization for eSports

Tencent, parent company of China’s biggest social network WeChat and, by revenue, the biggest global online game business, is also an entertainment titan, with China’s biggest online businesses in music, literature, comics and animation. Tencent Pictures, which invested in last weekend’s smash hit “Wonder Woman,” and “Kong: Skull Island,” is key to Tencent’s effort to become a global player in feature filmmaking. The company is also investing heavily in Silicon Valley projects so as not to miss out on the next big thing. Continue reading China’s Tencent Invests in Feature Films, U.S. Tech Startups

According to SuperData Research, games were a $91 billion global market in 2016, with mobile games accounting for $41 billion (about 18 percent). In second and third place, retail games were valued at $26 billion, and free online games at $19 billion. SuperData also noted virtual reality, e-sports and gaming video content, all of which were characterized as small but growing fast, thus promising for 2017. “Monster Strike,” “Pokémon Go” and “Clash Royale” were among the blockbuster hits that made mobile games a winning category. Continue reading Global Game Industry Earned $91 Billion in Revenues in 2016

Cognitive scientist, programmer, game developer, and senior technical designer for Riot Games and Radial Games Dr. Kimberly Voll took a packed house at the Game Developers Conference into the brain on VR, hailing the tremendous opportunities and flashing potential hazards this new medium presents. As someone who “engineers awesome experiences through understanding humans better, frequently in VR,” Voll’s latest project is “Fantastic Contraption,” a VR update to the popular 2008 building game, that will be shipping with the HTC Vive in April. Continue reading GDC 2016: Your Brain on VR, The Psychology of Doing VR Right