Video Games
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Netflix Bear Analyst Eyes 15 Million Q2 Subscriber Growth
Wedbush Securities media analyst Michael Pachter has long rebuffed conventional wisdom when it comes to Netflix. The Los Angeles-based analyst steadfastly considers the streaming behemoth’s excessive use of free cash an underling weakness in the Netflix story. Free cash flow is often considered an important measurement since it outlines how effective a company is at … Continue reading “Netflix Bear Analyst Eyes 15 Million Q2 Subscriber Growth”
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Cinedigm Reports 34% Q1 Digital Revenue Increase
Cinedigm July 13 announced its strongest fiscal first-quarter (ended June 30) performance in more than five years. Citing the current stay-at-home environment among consumers, streaming video viewership increased across all platforms, including transactional VOD. Digital revenue increased 34% from the previous-year period. “We have been laser focused on aggregating and distributing thousands of titles to … Continue reading “Cinedigm Reports 34% Q1 Digital Revenue Increase”
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NPD: May Video Game Sales Skyrocket 52% as Pandemic Spurs Consumption
Pandemic-driven housebound consumers love to play video games. New data from The NPD Group found that total sales of hardware, software and accessories increased 52% to $997 million, compared with $643 million in the previous-year period. It was the third-consecutive month of growth following nearly two years of steady declines. Year-to-date sales are up 18% … Continue reading “NPD: May Video Game Sales Skyrocket 52% as Pandemic Spurs Consumption”
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Activist Investors Join GameStop Board
GameStop investors Hestia Capital Partners and Permit Capital Enterprise Fund, who own about 7.3% of the video game retailer’s outstanding shares, June 12 announced that, based on preliminary voting results, the investor group’s two nominees, Paul J. Evans and Kurtis J. Wolf, have been elected to the retailer’s board of directors. John Broderick, partner with … Continue reading “Activist Investors Join GameStop Board”
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Sony Unveils Two PS5 Console Options, Games, No Pricing
Sony Interactive Entertainment’s much-hyped June 11 presentation offered a virtual open house for the pending PlayStation 5 video game console, including two console options for the new-generation system launching in time for the winter holidays. Versions of the PS5 will include a model featuring a 4K Ultra HD Blu-ray Disc drive, and a digital edition … Continue reading “Sony Unveils Two PS5 Console Options, Games, No Pricing”
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GameStop Closes 100 Stores Due to Civil Unrest, Floyd Memorial
GameStop June 9 said it temporarily shuttered 100 stores in the United States to protect employees from violence and looting as a result of civil unrest following the Memorial Day killing of George Floyd at the hands of Minneapolis police. The nation’s largest video game chain said 35 of the stores would be closed indefinitely … Continue reading “GameStop Closes 100 Stores Due to Civil Unrest, Floyd Memorial”
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Sony New-Generation Video Game Platform PS5 Unveiling Set for June 11
Sony Corp. June 9 announced it has rescheduled the public unveiling of the PlayStation 5 gaming platform for June 11 at 1 p.m. PT on Twitch or YouTube. The event was originally slated for June 4, but delayed due to the social unrest following the death of George Floyd at the hands of the Minneapolis … Continue reading “Sony New-Generation Video Game Platform PS5 Unveiling Set for June 11”
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GameStop Expects $170 Million Q1 Loss, 35% Sales Decline Due to COVID-19
GameStop June 5 jumped ahead of fiscal bad news, announcing preliminary results for the first quarter (ended May 2). The world’s largest video game retailer said it expects to post a fiscal loss of $170 million for the period, compared to a loss of $6.8 million in the previous-year period. Global sales are expected to … Continue reading “GameStop Expects $170 Million Q1 Loss, 35% Sales Decline Due to COVID-19”
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Sony Delays PS5 Media Reveal Due to Civil Unrest
Sony Network Entertainment June 1 announced it is delaying the planned June 4 PlayStation 5 media event. No future date has been disclosed. “While we understand gamers worldwide are excited to see PS5 games, we do not feel that right now is the best time for celebration and for now, we want to stand back … Continue reading “Sony Delays PS5 Media Reveal Due to Civil Unrest”
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Fubo TV Comes to Xbox One
Online TV service FuboTV is launching its first app on Microsoft’s Xbox One video game platform. With the new app, Xbox users (with a $54.99 subscription) can stream sports, news and entertainment TV channels, VOD movies and TV shows. Xbox One X and Xbox One S users can also stream 4K content. FuboTV features include … Continue reading “Fubo TV Comes to Xbox One”
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Study: 1.56 Billion Video Game Consoles Sold All-Time Globally
With video games experiencing a renaissance due in part to homebound gamers in the COVID-19 era, new data from Learnbonds.com finds that more than 1.56 billion game consoles have been sold worldwide through March since the beginning of Sony PlayStation, Atari, Sega, Nintendo and Microsoft Xbox, among other brands. The gaming resurgence comes following a … Continue reading “Study: 1.56 Billion Video Game Consoles Sold All-Time Globally”
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NPD: April Video Game Disc Sales Up 8%
Sales of packaged-media video games for consoles and hand-held devices reportedly topped $251 million in the four-week April retail period, ended May 2, an increase of 8% from $232.4 million during the previous-year period. The uptick in software sales was largely driven by stay-at-home gamers buying content on the Internet due to the ongoing coronavirus … Continue reading “NPD: April Video Game Disc Sales Up 8%”