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☆ Esports World Cup in Saudi Arabia, worth more than $60M, hopes to send ‘positive message’ to struggling industry
▼ + stars: | 2024-04-16 | by ( Ben Church | ) edition.cnn.com time to read: +4 min

CNN —Boasting the largest prize pool in esports history, this year’s inaugural 2024 Esports World Cup (EWC) could prove to be a pivotal moment for the industry. Clubs will be able to choose which games they participate in before the best performing team across the various championships will be crowned the ultimate Esports World Cup champion for the very first time. Ralf Reichert, CEO of the Esports World Cup Foundation, hopes this new competition in Saudi Arabia can be a game changer. “Setting the record for largest esports prize pool is a remarkable achievement, but what I’m most proud of is the positive message this sends to the wider esports and gaming community,” Reichert said in a statement. In 2023, Saudi launched ‘The National Gaming and Esports Strategy’ (NGES) which hopes to make the country the center of the competitive gaming world by 2030.

Persons: Ralf Reichert, ” Reichert, Saudi Arabia –, “, Prince Mohammed bin Salman, ” Organizations: CNN, Apex, EA Sports FC, of, League, Riot, New York Times, Saudi Arabia’s Public Investment Fund, Saudi, National Gaming, Saudi’s, New Global Sport Locations: Riyadh, Saudi Arabia, Saudi

☆ EA to lay off 5% of workforce, or about 670 employees
▼ + stars: | 2024-02-28 | by ( Alex Koller | ) www.cnbc.com time to read: +2 min

An Electronic Arts video game logo is seen at the Electronic Entertainment Expo. The company's announcement marks the latest headcount reduction among video game developers in recent months, continuing a broader trend of significant downsizing across the tech industry. On Tuesday, Sony said it would lay off about 900 employees in its PlayStation division, or 8% of its workforce. EA CEO Andrew Wilson wrote in a memo to employees on Wednesday that the video game company is "streamlining our company operations to deliver deeper, more connected experiences for fans everywhere." "We are continuing to optimize our global real estate footprint to best support our business," Wilson wrote in his Wednesday note.

Persons: Andrew Wilson, Wilson, —, Steve Kovach Organizations: Arts, Electronic Entertainment, Electronic Arts, EA, U.S . Securities, Exchange Commission, Sony, PlayStation, Microsoft, Activision Blizzard, Riot Games, SEC, Apex, EA Sports FC, Madden NFL, CNBC PRO

☆ Electronic Arts CEO Andrew Wilson on EA Sports FC 24: All metrics are very strong
▼ + stars: | 2023-11-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailElectronic Arts CEO Andrew Wilson on EA Sports FC 24: All metrics are very strongElectronic Arts CEO Andrew Wilson joins 'Squawk on the Street' to discuss the revenue growth opportunity for EA after discontinuing their partnership with FIFA, where Wilson sees the M&A landscape in gaming post-Activision and Microsoft merger, and more.

Persons: Andrew Wilson, Wilson Organizations: Electronic, EA Sports FC, Electronic Arts, EA, FIFA, Activision, Microsoft

☆ Esports made their 'tense and exciting' debut at this year's Asian Games
▼ + stars: | 2023-10-15 | by ( Polly Thompson | ) www.businessinsider.com time to read: +6 min

Esports, or professional video gaming, were an official sport at the Asian Games for the first time. AdvertisementAdvertisementEsports, or competitive video gaming, debuted as an official event at this year's Asian Games in Hangzhou, China that concluded earlier this month. Due to the event's popularity, esports tickets were sold on a lottery basis, with more than five million entering the ballot, according to Hangzhou Asian Games data. We're excited to see the landscape of esports events around the world expand," said John Robinson, president of US esport organization 100 Thieves. The Olympic Esports Series is "a global virtual and simulated sports competition created by the IOC, and in collaboration with International Federations and game publishers."

Persons: —, esports, Chris Liu, Liu, Esports, JADE GAO, John Robinson, Kim Gwanwoo, WANG ZHAO, Matt Woods, AFK, Grant Rousseau, " Rousseau Organizations: Asian Games, of, EA Sports FC Online, Singapore, Service, Professional, EA Sports FC, South Korea, Team Malaysia, China, Xinhua News Agency, South, Associated Press, Fighter, Getty, Olympic, IOC, International Federations, Guardian, Team Falcons Locations: Hangzhou, China, Thailand, Wuxi, esports, Asia, Pacific, US, South Korea, AFP, Los Angeles

☆ Concerns around a rebrand in this video game maker's line-up are overblown, Bank of America says
▼ + stars: | 2023-10-10 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Investors are way too worried about the impact a rebranding of Electronic Arts ' FIFA video games could have on the stock, according to Bank of America. The bank upgraded the video game maker's stock to buy from neutral and raised its price target to $150 from $145. A decadeslong partnership between FIFA — soccer's governing body — and Electronic Arts came to an end last year, when the company announced its longtime video game franchise would be rebranded to EA Sports FC. Additionally, Dessouky said that the company's new game video game could provide upside to consensus estimates and guidance in the near term and beyond, especially following above-trend growth in the PC and console gaming market. "We expect the PC/Console software market to grow above trend (mid/high single digits) in CY24 and beyond," the analyst wrote.

Persons: Omar Dessouky, Dessouky, Michael Bloom Organizations: Electronic Arts, FIFA, Bank of America, FIFA —, EA Sports FC, EA, SPORTS FC Locations: Monday's, CY24

☆ Asian Games: South Korea's Esports stars target medal success -- and a military exemption
▼ + stars: | 2023-09-26 | by ( Yoonjung Seo | ) edition.cnn.com time to read: +15 min

For South Korean male participants, winning a gold medal in the Asian Games or Olympic Games not only brings honor but also grants them a military exemption. However, the mandatory duty can be waived for some athletes, in particular those who win an Olympic medal or a gold medal in the Asian Games. Seven games will be featured as official medal events at the 19th Asian Games, building on the success of the pilot event at the 2018 Jakarta-Palembang Games. The venue for the Asian Games esports competitions is state-of-the-art and an impressive sight to see. With its inclusion as an official Asian Games medal event, the possibility of esports becoming a part of the Olympic Games is a topic of growing debate.

Persons: Suga, Oh, Wang Zhao, Son Heung, ” Shin, ”, esports, ” Kim Sa, “, ” Lee Kyung, Kwak, hyouk, it’d, ” Kwak, Thailand’s Teedech, Lee Sang, –, Michael Chow, Yoonjung Seo, Michael Jordan, ” Chow, Faker, JUNG YEON, Philip Fong, Rowan Crothers, “ I’m, I’ll, ” Crothers, Jess Bolden, Chow, Niko, Young Organizations: CNN, Gaming, Hangzhou Asian Games, Asian Games, Games, BTS, Asian, Getty, Premier League soccer, Tottenham Hotspur, Marine Corps, Republic of Korea Marine Corps, “ Times, CNN Sport, FIFA, Hangzhou, South Korea, Believer Company, Riot, South, Team Korea, League, “ League, SK Telecom, Riot Games, Microsoft Studios, Xbox, Studios, International Federation of, Phonographic Industry, EA Sports FC Online, PUBG, of Valor, of, Olympic, International Olympic Committee, Maekyung Media, Paralympic, IOC, Kodikara, International Federations, Niko Partners Locations: South Korea, Hangzhou, AFP, Seogwipo, Jeju, Republic of, Seoul, esports, Jakarta, South, . South Korea, Palembang, Asia

☆ Video-gaming revenue to grow 2.6% in 2023 on console sales strength - report
▼ + stars: | 2023-08-08 | by ( Akshita Toshniwal | ) www.reuters.com time to read: +2 min

A worker holds a Playstation 5 at a Best Buy store during Black Friday sales in Chicago, Illinois, U.S., November 25, 2022. REUTERS/Jim VondruskaAug 8 (Reuters) - Global video-games market would return to growth in 2023 on the back of strong sales of consoles such as Sony's Playstation 5, according to gaming market research firm Newzoo. Newzoo said it expects industry revenue to rise 2.6% to $187.7 billion in 2023, driven by a 7.4% rise in console sales in the year. Market research firm Circana said U.S. consumer spending on video-game hardware was up by 23% in the first half of 2023. Reporting by Akshita Toshniwal and Chavi Mehta in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: Jim Vondruska, Newzoo, Tom Wijman, Circana, Akshita Toshniwal, Chavi Mehta, Shilpi Majumdar Organizations: Black, REUTERS, Gaming, PlayStation, Sony, Activision, Electronic Arts, EA Sports FC, Newzoo, Apple, Google, Thomson Locations: Chicago , Illinois, U.S, Bengaluru

☆ EA's CMO reveals how he'll keep the video game giant's soccer franchise rolling without FIFA branding
▼ + stars: | 2023-06-22 | by ( Ryan Joe | ) www.businessinsider.com time to read: +4 min

EA's "FIFA" series is a big revenue driver, but its next soccer video game won't have that branding. CMO David Tinson reveals his plan to drive fans to EA's new soccer franchise EA Sports FC. Electronic Art's marketing muscle is going to have to do some heavy lifting this year to build a new powerhouse brand around its soccer video game series. In 2022, EA and FIFA ended a licensing partnership that lasted nearly three decades and helped make the "FIFA" video game series the most popular sports franchise of all time. This is a key component to making sure fans of the "FIFA" franchise glom onto the new one.

Persons: David Tinson, Andrew Wilson, Tinson, we've, hadn't Organizations: FIFA, EA Sports FC, EA, FC Barcelona's Camp, Manchester United, FC Barcelona, Nike Locations: FC Barcelona's Camp Nou, Real Madrid

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