The Global Console Games Market On Track To Exceed $57 Billion This Year
The global pandemic has reduced revenues across almost all markets worldwide… but that “almost” does not apply to the console gaming market. In fact, its revenues have actually increased! Covid quarantine has presented an opportunity for dedicated console and computer gamers to spend more time with new games in store. Multiple industry reports are projecting a significant rise in revenues, in the coming year and for several years thereafter. One report from Brand Research projected that the global console games market, which was valued at USD 26.06 Billion in 2018, is expected to reach USD 34.52 Billion by 2025 with a CAGR of 4.10 %over the forecast period. But another report from MarketsAndMarkets was even mor optimistic saying that the global console games market is expected to grow from $40.6 billion in 2019 to about $57.9 billion in 2020… The market is expected to stabilize and reach $67.1 billion at a CAGR of 13.4% through 2023. Active companies in the gaming industry this week include Liquid Media Group Ltd. (NASDAQ: YVR), Take-Two Interactive Software, Inc. (NASDAQ:TTWO), Sony Corporation (NYSE: SNE), Electronic Arts Inc. (NASDAQ:EA), Activision Blizzard, Inc. (NASDAQ: ATVI).
The Brand report gave an overview of the console market, saying that console games, which are more commonly called video games, are played on a device specially made for game play called a video game console. The player relates with the game through a controller, a hand-held device with buttons and joysticks or pads. Video and sound are received by the gamer though a television. Consoles have advantages over PCs, they are easy to use, don’t require upgrades. Easy to use, in general they cost less, and wireless controllers allow to have a more active experience. While more and more video games are released across all platforms each year… some of the biggest games out can only be played on gaming consoles at the moment.
Liquid Media Group Ltd. (NASDAQ: YVR) BREAKING NEWS: Liquid Media Nominates M&A Board Strategist to Maximize Value of Waterproof Asse– Liquid Media Group, (the “Company”, “Liquid Media” or “Liquid”), is pleased to announce the nomination of mergers and acquisitions (M&A) strategist Andrew Kaplan to the Board of Waterproof Studios (“Waterproof”), in which Liquid holds a 49% interest. Kaplan plans to lead a strategic review of the Waterproof asset with the aim to maximize capabilities and long-term value for Liquid shareholders.
Kaplan has 20 years of experience in working with companies that have considerable growth potential, and assisting management and its Board of Directors to navigate and access the capital markets in a manner that maximizes shareholder value and minimizes the Company’s cost of capital.
A market leader in Hollywood North, Waterproof creates cutting-edge imagery and specializes in computer-generated production, VFX and animation for the gaming industry, traditional film and TV studios, distributors, broadcasters and other streaming service providers. In recent years, Waterproof has successfully completed projects for Microsoft’s Gears of War and Warner Bros Mortal Combat 11, among others.
“We believe Waterproof is a high-performance asset with a proven track record, positioned to excel in the current market,” said Kaplan. “I am excited to join the team and work to discover additional mechanisms to unlock the studio’s full potential.”
“We are pleased that Liquid’s Board of Directors and advisory board have gelled together so well to help support Waterproof,” said Daniel Cruz, co-founder and CFO of Liquid and a Director of Waterproof. “We believe the nomination of this Liquid team member will bring the strength of our advisory board across verticals for strategic guidance, and further our ability to execute on a clear vision to drive revenue for all shareholders.”
Hollywood North’s animation industry continues to ramp up production, and projections for the global VFX, animation and game industries predict growth through 2026. The global video streaming market, valued at USD$42-billion in 2019, is estimated to record unprecedented growth through 2025, with estimates of production budgets dedicated to special effects ranging from 20-25%. – Read this and more news for Liquid Media Group at: https://www.liquidmediagroup.co/press-releases/
Other recent developments in the markets this week include:
Take-Two Interactive Software, Inc. (NASDAQ:TTWO) recently announced that it has entered into a definitive agreement to acquire privately-held Playdots, Inc. for $192 million, comprised of $90 million in cash and the balance in newly issued shares of Take-Two common stock The cash portion will be funded from Take-Two’s cash on hand. The number of Take-Two shares will be calculated by dividing $102 million by the average closing price per share on the Nasdaq Global Select Market during the thirty trading day period ending on the date three days prior to the closing date. The purchase price assumes a debt-free, cash-free company with a normalized level of net working capital (excluding cash) at the time of the closing of the acquisition. The acquisition is expected to close in the third calendar quarter of 2020, subject to customary closing conditions.
Founded in 2013 and based in New York City, Playdots builds mobile games with unique and thoughtful designs. The studio has created three mobile hits, Dots, Two Dots and Dots & Co., which have been downloaded over 100 million times. They are best known for Two Dots, which has been downloaded over 80 million times since its launch six years ago and that continues to deeply engage audiences throughout the world. With 2,900 levels of content, Two Dots was selected as an Editor’s Choice in both the Google Play Store and Apple App Store.
Sony Corporation (NYSE: SNE) recently announced a new generation of media — the world’s firstii CFexpress Type A memory cards, in both 80GB and 160GB, (CEA-G80T and CEA-G160T) as the most recent addition to Sony’s TOUGH specification cards. Delivering high transfer speed, durability and reliability, Sony’s new CFexpress Type A cards offer professional and stress-free performance for photographers and content creators.
High-speed Performance – Both the CEA-G80T (80GB) and CEA-G160T (160GB) use the latest flash memory control technology to achieve write speeds as high as 700MB/si and read speeds as high as 800MB/si, greatly reducing buffer clearing times for efficient, stress-free shooting. The CFexpress Type A cards are ideally suited for high-speed continuous shooting of more than 1,000 uncompressed RAW still images, as well as 4K 120p movie recording at high bit rates with the Slow & Quick Motion functioniii when paired with new Alpha 7S III, which features two CFexpress Type A compatible media slots, that also support UHS-I and UHS-II SDXC/SDHC cards, for simultaneous media capture or extended continuous recording of even the highest bit rate data. Compliance with the VPG400 video performance guarantee profile specification ensures stable video recording at 400 MB/s—creating a smooth workflow for professional creators.
Electronic Arts Inc. (NASDAQ:EA) recently revealed that EA Access and Origin Access Basic have become EA Play*, and Origin Access Premier is now EA Play Pro, all with a fresh new look. All the great benefits players love (trials of new EA games, 10% savings on digital purchases including full games and a library of top titles) aren’t going anywhere. In fact, even more benefits are on the way over the coming months, starting with in-game challenges and monthly reward drops for members on select titles. In addition, on August 31st, EA Play will launch on its fourth platform, the most in the industry, with Steam for PC, and players can look for more exciting news on EA Play soon.
EA Play is a game subscription service that makes every game more rewarding with access to exclusive player challenges, in-game rewards, member-only content and a library of top titles including The Sims™ 4, Need for Speed™ Heat, Titanfall®2 – and some of EA’s most fabled franchises like Battlefield™, Star Wars™ Battlefront and Plants vs Zombies™. EA Play is available on Xbox One, PlayStation®4 and on PC via Origin™ now, and launches on Steam for PC on August 31st.
Activision Blizzard, Inc. (NASDAQ: ATVI) recently announced the appointment of Major League Baseball’s Tony Petitti as President of Sports and Entertainment effective August 17, 2020. In his new role, reporting to Activision Blizzard CEO Bobby Kotick, Petitti will oversee esports, consumer products, and film and television. “Tony is one of the most highly regarded executives in sports and entertainment,” said Bobby Kotick, Chief Executive Officer of Activision Blizzard. “His success in media and as Deputy Commissioner and Chief Operating Officer of Major League Baseball is the perfect blend of skills to help us realize our aspirations for esports and our related businesses. He is admired by owners, media executives, players and fans.”
“Bobby Kotick has been translating his vision into opportunity at Activision Blizzard for 30 years. I couldn’t be more excited to use my own 30 years of sports and entertainment experience to help Activision Blizzard realize its ambitions,” said Petitti. “It’s clear to me the company has an incredible opportunity to connect players and fans in new and innovative ways, and I’m excited to be joining the company at such an important moment in its history. The last 12 years in baseball have been extraordinary for me and I am especially grateful for the leadership and mentorship that Commissioner Manfred provided to me and the League.”