100 episodes

The business of video games can be complicated. In each episode of Virtual Economy, hosts and analysts Amanda Farough and Michael Futter break down the biggest business news in the video game industry.

Virtual Economy Michael Futter and Amanda Farough

    • Business
    • 5.0 • 8 Ratings

The business of video games can be complicated. In each episode of Virtual Economy, hosts and analysts Amanda Farough and Michael Futter break down the biggest business news in the video game industry.

    The AAA Video Game Industry is in Freefall (News Show)

    The AAA Video Game Industry is in Freefall (News Show)

    Triple-A game development as we know it is unsustainable. It doesn't matter if a game succeeds or fails, the corporate machine is grinding developers up and spitting them out by the thousands. Things need to change. 
    You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!
    TIME STAMPS
    [00:01:29] - Circana Report on U.S. Video Game Spending for January 2024 [00:07:04] - Investment Interlude [00:18:43] - Quick Hits [00:21:25] - Labor Report [00:43:33] - FAFO! SOURCES
    An Important Update from PlayStation Studios | SIE Blog Difficult News About Our Workforce | SIE Blog Continuing to evolve our business and teams | EA Respawn's Star Wars FPS Is Canceled, But Work on Next Jedi Game, Black Panther and Iron Man Will Continue | IGN Marcus Lehto has departed EA | Marcus Lehto (@game_fabricator) on Twitter EA cutting "small number" of staff as it sunsets two mobile games | GamesIndustry Supermassive Confirms Layoffs | Supermassive (@SuperMGames) on Twitter British Game Maker Supermassive Set to Lay Off 90 Workers | Bloomberg (Paywall) Die Gute Fabrik is Stopping Production | Die Gute Fabrik (@gutefabrik) on Twitter ESL Faceit Group lays off 15% of staff 2 years after $1.5B merger | GamesBeat Star Citizen developer hit with layoffs amid claims of a "highly toxic company" | Eurogamer Wildlife Studios is laying off 21 percent of its workforce | Game Developer Keoken Studios lays off Four | Koen Deetman on LinkedIn Layoffs at Radical Forge | Radical Forge (@RadicalForge) on Twitter Deck Nine Games lays off 20 percent of staff | Game Developer ‘Grand Theft Auto’ Maker Rockstar Games Asks Workers to Return to Office Five Days a Week | Bloomberg (Paywall) Nintendo Files Lawsuit Against Creators of Switch Emulator Yuzu | Stephen Totilo (@stephentotilo) on Twitter INVESTMENT INTERLUDE
    GamerSafer acquires Minecraft-focused Minehut server community | GamesBeat Embracer Group to Sell Saber, Developer of a New ‘Star Wars’ Game Remake, in $500 Million Deal | Bloomberg (Paywall)

    • 49 min
    Switch 2 Switcharoo Could Thwart 2024 Recovery Hopes (News Show)

    Switch 2 Switcharoo Could Thwart 2024 Recovery Hopes (News Show)

    The console market is going through major changes as hardware prices stay high and first party needs to pivot audience strategy. Nintendo may be struggling to find a break-even for its Switch successor, prompting a later release than we anticipated. Also: Embracer Group woes continue, Hasbro loses a ton.
    This is episode is sponsored by Magic Mind, a supplement shot that includes ingredients to lower your stress, reduce fatigue, and boost your immune system. You can get 20% off your order of Magic Mind at https://www.magicmind.com using the code VirtualEconomy20. 
    You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!
    TIME STAMPS
    [00:01:12] - Sony Earnings for Q3 FY24 [00:18:37] - Starbreeze Earnings for FY23 [00:26:13] - Embracer Group Earnings for Q3 FY24 [00:41:48] - Bandai Namco Earnings Notes for Q3 FY24 [00:43:48] - Hasbro Earnings Notes for FY23 [00:46:46] - Xbox Reveals Multiplatform Plans [00:49:10] - Epic Games Store Year in Review 2023 [00:52:22] - Investment Interlude [01:04:24] - Quick Hits [01:13:12] - Labor Report [01:22:11] - What Happens if the Switch 2 Doesn’t Come Out in 2024? [01:36:13] - Listener Questions SOURCES
    Sony Earnings for Q3 FY24 | Sony Starbreeze Year-End Report | Starbreeze EMBRACER GROUP PUBLISHES INTERIM REPORT Q3 | Embracer Group Financial Highlights for the Third Quarter of the Fiscal Year Ending March 31, 2024 | Bandai Namco From Software now owns the Elden Ring IP | USPTO Magic, D&D maker Hasbro lost over $1bn in Q4, predicts WotC revenue decline in 2024 | BoardGameWire Xbox’s Promise to Bring More Games to More Players Around the World | Xbox Wire Xbox’s Alleged Multiplatform Plans are Making People Angry Prematurely | Virtual Economy Epic Games Store 2023 Year in Review | Epic Games Epic Games Store is Coming to iOS | Epic Games (@EpicNewsroom) on Twitter Genvid Suffers Layoffs | Seana Cavanagh on LinkedIn Daybreak confirms "less than 15" layoffs | GamesIndustry Scopely layoffs hit Kingdom Maker team | Games Industry Disco Elysium studio laying off nearly 25% of its staff⁠—including the final remaining writer from the original game's credits | PCGamer Everywhere and Mindseye developer Build a Rocket Boy announces layoffs | PCGamesN Global layoffs at Gameloft as staff in Ukraine and Canada confirm redundancies | Pocket Gamer Embracer-owned studio Flying Wild Hog has unionized | Game Developer Things at Toys for Bob may not be so dire | @MauroNL on Twitter Sources: Nintendo Switch 2 will now launch in 2025 | VGC INVESTMENT INTERLUDE
    Games corporate and VC funding falls 75% to $2.7B in 202 | GamesBeat Monumental to acquire Game Circus | GamesIndustry Former EA and King leaders establish new studio Cult of the North | Game Developer

    • 1 hr 52 min
    Did Microsoft Trigger the FTC’s Trap Card? (News Show)

    Did Microsoft Trigger the FTC’s Trap Card? (News Show)

    Microsoft’s layoffs have sent the FTC into a tizzy, adding fuel to the ongoing fire. Also: It’s earnings season, with EA, Microsoft, Capcom, Nintendo, Square Enix, Paradox, Take-Two, Sega, and Meta reporting. We also cover the latest in the layoff storm that continues to drown the industry and Disney’s $1.5B investment in Epic.
    This is episode is sponsored by Magic Mind, a supplement shot that includes ingredients to lower your stress, reduce fatigue, and boost your immune system. You can get 20% off your order of Magic Mind at https://www.magicmind.com using the code VirtualEconomy20. 
    You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!
    TIME STAMPS
    [00:01:14] - EA Earnings [00:12:44] - Microsoft Earnings [00:22:59] - Capcom Earnings [00:28:23] - Nintendo Earnings [00:31:09] - Square Enix Earnings [00:37:45] - Paradox Earnings [00:42:38] - Take-Two Earnings [00:49:17] - SegaSammy Earnings [00:53:09] - Meta Earnings (Brief) [00:55:57] - Investment Interlude [01:12:13] - Quick Hits [01:19:36] - Labor Report SOURCES
    Electronic Arts Reports Strong Q3 FY24 Results | EA Microsoft Earnings Release FY24 Q2 | Microsoft Capcom On Track to Achieve Full-Year Guidance | Capcom Consolidated Results for the Nine Months Ended December 31, 2022 and 2023 | Nintendo Consolidated Financial Results for the Nine-Month Period Ended December 31, 2023 | Square Enix Year-end report January – December 2023 | Paradox Take-Two Interactive Software, Inc. Reports Results for Fiscal Third Quarter 2024 | Take-Two SegaSammy Q3 Results Presentation | SegaSammy Meta Reality Labs loses $4.65B in Q4 | Meta Tencent CEO feels its game business "achieved nothing" during 2023 | Game Developer Embracer lays off staff at Star Trek: Infinite dev Nimble Giant | Game Developer Wayfinder dev Airship Syndicate lays off 12 employees | Game Developer Square Enix absorbs Tokyo RPG Factory | Gematsu Hidden Path Layoffs | Jeff Pobst on LinkedIn Roughly half of Devolver's Artificer studio laid off | Games Industry Devolver Digital CEO Douglas Morin steps down | Games Industry Layoffs at Netease, MiHoYo, Tencent | Core Esports The FTC is Going After Microsoft Over Layoffs | Tom Warren (@tomwarren) on Twitter …And Microsoft has Responded | Tom Warren (@tomwarren) on Twitter INVESTMENT INTERLUDE
    Nordcurrent snaps up Cinemaware library | Games Industry Disney and Epic Games to Create Expansive and Open Games and Entertainment Universe Connected to Fortnite | Disney Nitro Games receives further €3.5 million to continue Warframe mobile development | Pocket Gamer Six Nations-backer CVC in talks to buy Runescape-maker for £900m | Sky News FromSoftware owner Kadokawa acquires Octopath Traveler studio | Eurogamer

    • 1 hr 41 min
    We Were Wrong About Microsoft and Activision (News Show)

    We Were Wrong About Microsoft and Activision (News Show)

    In the wake of 2020’s bombshell revelations about Activision’s miserable culture and history of defending sexual abusers, we hoped that Microsoft would be a better steward for the company’s 13,000 employees. With 1,900 laid off post-acquisition, we are disappointed and saddened at how wrong we were.
    This is episode is sponsored by Magic Mind, a supplement shot that includes ingredients to lower your stress, reduce fatigue, and boost your immune system. You can get 20% off your order of Magic Mind at https://www.magicmind.com/JANvirtualeconomy using the code VirtualEconomy20. 
    You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!
    TIME STAMPS
    [00:01:09] - A word about Microsoft and Activision [00:07:07] - Apple kinda-but-not-really complies with European Commission rulings [00:19:03] - The Pokemon Company dragon is stirring, Palworld… [00:24:10] - Investment Interlude [00:30:32] - Quick Hits [00:33:48] - Labor Report [00:54:48] - Twitch Updates Payment Terms for Streamers SOURCES
    Apple opens App Store to game streaming services | The Verge Apple is bringing sideloading and alternate app stores to the iPhone | The Verge When Apple takes the European Commission for fools… | The Platform Law Blog An Update to Several Streamer Payout Programs | Twitch Inquiries Regarding Other Companies’ Games | The Pokemon Company Microsoft lays off 1,900 Activision Blizzard and Xbox employees | The Verge INTRODUCING JOHANNA FARIES AS THE NEW PRESIDENT OF BLIZZARD ENTERTAINMENT | Blizzard 2K Games makes layoffs at internal studio 31st Union | Game Developer Netmarble liquidates Grand Cross: Metaworld studio Metaverse World | Game Developer Report: Black Forest Games cuts 50% of staff | PC Games Insider Embracer Group Cancels ‘Deus Ex’ Video Game | Bloomberg (Paywall) Outriders developer People Can Fly reportedly lays off "over 30" employees | Eurogamer UK recruitment firm OPM closes after 26 years | GamesIndustry How Goliath bought Prospero Hall’s game assets, but left its heart behind | BoardGameWire Ruiner studio Reikon Games has reportedly laid off around 80% off its staff | VGC PUBG owner Krafton sued in sexual assault, wrongful termination case | Polygon INVESTMENT INTERLUDE
    Build A Rocket Boy lands $110 million in funding | GamesIndustry

    • 1 hr 1 min
    So… 2024, Huh? (News Show)

    So… 2024, Huh? (News Show)

    It’s been less than one month, and the industry has already suffered more than 3,500 lost jobs. Also: The Circana report for December 2023 and the full year, a few investments, and a discussion about some challenging changes to the U.S. tax code. Oh, and a bit about that weird Palworld game.
    You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!
    TIME STAMPS
    [00:11:08] - Circana report on U.S. Video Game Spending for December and Full Year 2023 [00:27:19] - Investment Interlude [00:34:06] - Quick Hits [01:00:58] - Labor Report SOURCES
    SAG-AFTRA and Replica Studios Introduce Groundbreaking AI Voice Agreement at CES | SAG-AFTRA Replica Studios Agreement for Digital Voice Replicas FAQs | SAG-AFTRA SAG-AFTRA’s AI Voice Acting Deal Was A Powder Keg Waiting To Go Off | Aftermath AI Content on Steam | Valve Report: 3D Realms and Slipgate may have been hit with more layoffs | Game Developer Employees Say ‘Sizable Portion’ Of Gearbox-Owned Studio Has Been Laid Off | Aftermath Playtika reduces staff by 10% | GamesIndustry Discord is laying off 17 percent of employees | The Verge Thunderful Group to restructure operations for strengthened long-term competitiveness | Thunderful Games A Difficult Update about our Workforce | Twitch Changes at Riot and the Road Ahead | Riot An Important Update about Riot’s Future | Riot Wimo Games reportedly shuts down | GamesIndustry Astra Fund repositions as "thinky" publisher Astra Logical following layoffs | Game Developer Playtika reduces staff by 10% | GamesIndustry INVESTMENT INTERLUDE
    Phoenix Labs execs regroup to form Critical Path Games | Game Developer Second Dinner raises $100 million to continue growing Marvel Snap | Game Developer Tencent completes majority ownership of Dying Light dev Techland | Game Developer Outsourcing studio Obelisk nets $2 million to create original horror title | Game Developer Rocksteady founders have a new, post-Suicide Squad studio | Polygon

    • 1 hr 35 min
    The Game Awards Needs to Change (Season Finale)

    The Game Awards Needs to Change (Season Finale)

    It’s been a hard year, folks. As we say goodbye to 2023 and turn our attention to a (hopefully) brighter 2024, we’re recapping recent gaming events, November’s Circana report, and more.
    You can support Virtual Economy’s growth via our Ko-Fi and also purchase Virtual Economy merchandise!
    TIME STAMPS
    [00:02:17] - Circana Report on U.S. Video Game Spending for November 2023 [00:09:11] - GameStop Earnings for Q3 2023 [00:13:28] - What’s Going on in China? [00:19:37] - Twitch: Closing Up Shop in S. Korea, Sexual Content Policy [00:25:10] - Investment Interlude [00:25:59] - Quick Hits [00:27:26] - Labor Report [00:35:45] - Our Feelings on Coverage of the Insomniac Hack (Discussion) [00:45:59] - PAX Unplugged (Discussion) [00:54:47] - The Game Awards (Discussion) [01:02:42] - Our Favorite Games This Year [01:13:48] - Listener Questions SOURCES
    GameStop Discloses Third Quarter 2023 Results | GameStop Activision Blizzard to pay $47M in gender discrimination settlement | Axios Microsoft announces more Xbox leadership changes as Activision’s Bobby Kotick departs | The Verge Updates on Twitch in Korea | Twitch Sexual Content Policy Update | Twitch Indie publisher Versus Evil has shut down | Game Developer Jukai Studio Has Shut Down | Jukai Studio (@jukaistudio) on Twitter Activision Blizzard to pay $47M in gender discrimination settlement | Axios Microsoft announces more Xbox leadership changes as Activision’s Bobby Kotick departs | The Verge INVESTMENT INTERLUDE
    Keywords acquires The Multiplayer Group, enhancing its Create division | Keywords

    • 1 hr 24 min

Customer Reviews

5.0 out of 5
8 Ratings

8 Ratings

DantronLesotho ,

Your one stop shop for games business news

The games industry is a very complicated system and Amanda Farough and Michael Futter break it down better than anyone out there. Talks about deals, lawsuits, contracts, stocks, and anything else is covered with expertise, heart, and humor. It’s in my regular rotation and I can’t recommend it enough if you are interested in the games business.

Matthew Mark Glenn ,

Unique Podcast with Valuable Insight

Hosts Amanda and Mike bring a great focus on the business aspect of the video game industry. Their show also features of a wonderful slate of experienced guests that help further explain what goes on behind the games we love to play.

Definitely worth a listen!

Top Podcasts In Business

The Ramsey Show
Ramsey Network
Money Rehab with Nicole Lapin
Money News Network
NerdWallet's Smart Money Podcast
NerdWallet Personal Finance
The Diary Of A CEO with Steven Bartlett
DOAC
Planet Money
NPR
The Money Mondays
Dan Fleyshman

You Might Also Like

Deconstructor of Fun
Deconstructor of Fun
Gamecraft
Mitch Lasky / Blake Robbins
Remap Radio
Remap Radio
Downstream
Relay FM
Triple Click
Maximum Fun
Play, Watch, Listen
Alanah Pearce