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A new fad in the video game industry, metaverse, once led many investors and companies to believe that it was the future of the gaming industry. [ 59 ] [ 60 ] [ 61 ] Companies like Meta and Microsoft have made significant investments in this space. [ 62 ]
The layoffs hitting the gaming industry are largely the result of a handful of trends coalescing. The chief overarching issue comes down to publishers and developers overspending throughout 2021 ...
On July 26, 2024, SAG-AFTRA (Screen Actors Guild – American Federation of Television and Radio Artists) initiated a labor strike involving the union’s voice actors and motion capture artists against American video game companies signed to the union’s Interactive Media Agreements over failed renegotiation terms of the contract that had expired in November 2022.
The Game Awards, honoring the best video games of the year, was held at the Peacock Theater in Los Angeles. [68] 19 Sony and Kadokawa Corporation, the parent company of FromSoftware, Spike Chunsoft, and Acquire, agreed to form a strategic business alliance, with Sony becoming the largest shareholder in Kadokawa. [69]
Electronic Arts announced Wednesday that it will cut 5% of its workforce, part of a plan that includes reducing office space and ending work on some video games. Video game company EA to lay off 5 ...
The gaming industry is undergoing a serious hangover following its explosive growth during the pandemic. ... Read the latest financial and business news from Yahoo Finance.
The last few years have seen a surge of worker organizing activity in the video game industry, buoyed by a tight labor market and a string of damaging allegations around workplace culture.
On November 14, 2024, SAG-AFTRA announced a new type of agreement for video game localization, called Independent Interactive Localization Agreement. This agreement was designed to allow video game developers based outside of the United States to hire union voice actors for the purpose of content localization subject to terms of the agreement.