Market
Xbox Explains Decision to Abandon Plans for Keystone Streaming Console
Xbox boss Phil Spencer has discussed the thinking behind Microsoft’s decision to abandon their plans to release a streaming-only version of its games console, for now, which was confirmed back in May.
The project, known as Keystone, as the topic of conversation as Spencer was interviewed on an episode of The Verge’s Decoder podcast.
“The console we built that now people have seen, Keystone, was more expensive than we wanted it to be when we actually built it out with the hardware that we had inside, and we decided to focus that team’s efforts on delivering the smart TV streaming app” Spencer explained.
Microsoft announced a partnership with Samsung earlier this year to bring an Xbox Cloud Gaming app to Samsung’s Smart TVs and Spencer said that the company is “really happy with the results there” thus far.
Spencer added that Xbox is “still focused” on the project but that pricing has proven to be difficult as they try to align it appropriately within the market.
“I don’t want to announce pricing specifically, but I think you’ve got to be $129, $99, like somewhere in there for [Keystone] to make sense in my view, that we just weren’t there,” Spencer said. “We weren’t there with the controller. And I love the effort. The reason it’s on my shelf is the team rolled up their sleeves and in nine months they built that thing. And a bunch of us took it home and it worked. It worked really, really well.”
Business
Microsoft Bringing Four Games to Rival Consoles
Microsoft has responded to recent reports that there will be changes to it’s first-party strategy and has confirmed that four game titles will be released on rival consoles.
More specifically, Xbox head Phil Spencer said that ‘Starfield’ and ‘Indiana Jones’ will not be among the four titles heading to other platforms. Both games had a number of candidate platforms, per reports, adding that this is “not a change to our fundamental exclusive strategy.”
“We don’t damage Xbox and we can grow our business using what other platforms have to help us with that,” Spencer said, according to GamesIndustry.biz. “Looking forward, I think there is an interesting story for us of introducing Xbox franchises to players on other platforms to get them more interested in Xbox. We think there’s a good brand value for Xbox there.”
Xbox president Sarah Bond announced that Activision Blizzard games would begin to be added into Game Pass offerings, starting with Diablo 4, which will be added on March 28th.
Additionally, Bond said that Microsoft is still working on hardware for the future and that their focus regarding the future is “delivering the largest technical leap you will ever have seen in a hardware generation.”
Business
Sega’s Revenue See Rise to $27 Billion
Sega Sammy has released its financial report for the nine-month period that officially concluded on December 31st, 2023, and that report that demonstrated a rise in overall sales and profit despite a decrease in sales for Sega’s new titles.
That decline was offset by growth in pachislot and pachinko machines, however Sega had lowered its sales forecasts for the full financial year.
Here is a breakdown, courtesy of GamesIndustry.biz.
- Net sales: ¥349.9 billion ($2.3 billion, up 28.7% year-on-year)
- Operating income: ¥54.4 billion ($364 million, up 42.4% year-on-year)
- Ordinary income: ¥57.2 billion ($383 million, up 42.7% year-on-year)
- Net sales were up 130.3% to ¥120.2 billion ($805 million) in this segment
- Ordinary income increased by 521.3% at ¥45.7 billion ($306 million).
- Entertainment Contents segment, which includes video games, net sales were up 4.2% at ¥219.3 billion
- Profit decreased by 52.5% to ¥19.7 billion ($131.8 million) as a result of weak game sales
You can read a breakdown of the entire report at GamesIndustry.biz here.
Business
CVC Capital Partners, Haveli Investments Acquire Jagex
CVC Capital Partners and Haveli Investments have reached an agreement to acquire RuneScape developer Jagex from Carlyle Group, according to Sky News.
While financial terms of the acquisition were not disclosed publicly, the Sky News report indicates that CVC was planning to spend £900 million on the purchase of Jagex.
Luxembourg-based CVC Capital Partners is one of the world’s largest private equity firms and Austin-based Haveli Investments is an established games investor.
CVC Capital Partners has previously backed Dead by Daylight creator Behaviour Interactive, London-based Predecessor developer Omeda Studios, and Tel Aviv-based Match Masters studio Candivore.
Jagex has more than 700 staff worldwide, and is best known for its RuneScape franchise and is currently working on the PC and console launch of Scum by Gamepires sometimes in 2024.
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