Microsoft Increases Price of Xbox Game Pass

Microsoft Increases Price of Xbox Game Pass

Microsoft has increased the price of its Xbox Game Pass service, as well as introducing a new Standard subscription tier. Starting on Wednesday, July 10th the price for Game Pass “Ultimate” for new subscribers has increased $3 a month from $16.99 to $19.99. The PC Game Pass subscription will go from $9.99 to $11.99 a month. The “Core” Game Pass service price will go from $59.99 annually to $69.99 annually. For existing Game Pass subscribers the new prices will go i.....
Video Game Console Software Declines in 2024

Video Game Console Software Declines in 2024

The latest DFC Intelligence forecasts for the 2024/2025 video game industry have been lowered with an expected decline of 4% in console software revenue for 2024, with limited growth in 2025.  The decline is due to a number of factors including declining sales of PlayStation 5 and the end of life for the Nintendo Switch generation.   DFC expects console software revenue in 2024 to be $36 billi.....
PlayStation 5 Sales Disappoint

PlayStation 5 Sales Disappoint

For the fiscal year ending 3/31/2024 Sony Group (NYSE: SONY) reported that its Games and Network Services division had revenue of ¥4,267,734 (about $27 billion), up 17% over the previous fiscal year.  However, for the fourth quarter revenue was flat compared to the previous year at ¥1,097,331 (about $7 billion). For the full fiscal year, Sony sold 20.8 million PlayStation 5 units, below its previous estimate of 25 million (lowered to 21 million in February).  Hardware sales.....
Microsoft Video Game Results Remain Disappointing

Microsoft Video Game Results Remain Disappointing

For its fourth fiscal quarter ending 6/30/2023, Microsoft reported gaming revenue was up 1% year-over-year.  Xbox content and services grew 5% while Xbox hardware declined 13%. Analysis Microsoft’s video game performance continues to significantly underperform the industry.  The poor sales for Xbox hardware is in stark contrast to record sales for Sony’s PlayStation 5. .....
Embracer Group Revenue Soars After Acquisitions

Embracer Group Revenue Soars After Acquisitions

For the fiscal year ended 3/31/23 the Embracer Group (EMBRAC-B.ST) saw sales grow 121% to SEK 37,665 million (about $3.5 billion).  The growth was driven by major acquisitions the company made during the year.  Organic growth was 2% for the fiscal year and -4% in the fourth quarter. The company also announced that they received indications that a major partnership they were working on looked like it might not materialize.  Embracer lowered its EBIT forecast for fiscal 20.....
Take-Two Stock Up Despite Mixed Results

Take-Two Stock Up Despite Mixed Results

Take-Two Interactive (NASDAQ: TTWO) reported revenue of $5.35 billion for the fiscal year ending 3/31/23.  This beat the guidance of $5.24 to 5.29 billion.  However, the company reported a net loss of $1.13 billion versus guidance that the loss would be in the $700 million range. For fiscal 2024, ending 3/31/24, Take-Two is forecasting revenue to remain relatively flat at $5.37 to $5.47 billion.  Net loss is anticipated in the $500 million range. Despite the earni.....
Sega Sammy Looking at Major Growth in North America and Europe

Sega Sammy Looking at Major Growth in North America and Europe

For fiscal 2023 ending 3/31/23, Sega Sammy Holdings (6460.T-JP: Tokyo) saw overall revenue grow 21% over 2022 to ¥390 billion.  The Consumer Entertainment Content division that focuses on home video games had YOY growth of 19% for fiscal 2023 and 17% in the fourth quarter.  For fiscal 2023, Consumer Entertainment Content accounted for 48% of total revenue and 70% of operating income. For fiscal 2024 which ends 3/31/24, Sega Sammy is forecasting 55% revenue growth for full ga.....