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The video game industry is in trouble.

Business Insider

Business Insider · 1y ago

The video game industry is in trouble.

The video game industry is facing challenges, with sales and usage declining, and layoffs increasing. Despite gaming's popularity, revenues have been falling, and the average gamer's weekly playtime has decreased. The number of people playing games has also shrunk. Factors contributing to this decline include a post-pandemic slump, changes in mobile advertising rules by Apple, and the rising costs of game development. These issues have hindered new games from breaking through, leading to a lack of innovation and market expansion. The industry's struggles parallel those of the troubled Hollywood business.

Related News

OpenAI’s Sora Is Coming for Your Video Games

Gizmodo

Gizmodo · 1y ago

OpenAI’s Sora Is Coming for Your Video Games

OpenAI's advanced video generator model, Sora, has demonstrated the ability to recreate Minecraft and simulate video game worlds with high fidelity, according to a technical paper published by OpenAI. Sora's approach is more like a "data-driven physics engine" than an image generator, making it ideal for generating video games. Early tests show promise, although Sora does have some limitations in accurately modeling physics. Speculation suggests Sora may have been trained using digital worlds or video game engines like Unreal Engine 5. The impact of Sora on the gaming industry remains to be seen.

Ubisoft investigates hack attempt

Economic Times

Economic Times · 1y ago

Ubisoft investigates hack attempt

French video game publisher Ubisoft is investigating a potential data security breach after hackers attempted to steal 900 gigabytes of data from their servers. This comes after recent cyberattacks on other major players in the industry, including Sony unit Insomniac Games. Insomniac Games was targeted with ransomware, resulting in leaked company information and material related to upcoming video game projects. Ubisoft, known for games like "Assassin's Creed" and "Far Cry," is currently investigating the alleged incident.

In 2024, AI will spark an Indie Video Game renaissance (and Nightmare)

Gizmodo

Gizmodo · 1y ago

In 2024, AI will spark an Indie Video Game renaissance (and Nightmare)

Artificial intelligence (AI) will revolutionize the game development industry, making it easier for anyone to create their own video games. The author predicts that by 2024, AI-driven tools and platforms will eliminate the technical barrier and allow individuals to effortlessly build and design games, leading to an indie game renaissance. However, there are concerns about derivative content, job loss, and the consolidation of power in the hands of tech giants. Despite these challenges, AI is poised to transform the gaming landscape and redefine our relationship with video games.

Industry video game actors pass agreement with studios for AI security - The Economic Times

Economic Times

Economic Times · 1m ago

Industry video game actors pass agreement with studios for AI security - The Economic Times

Hollywood video game voice and motion capture actors, represented by SAG-AFTRA, have reached a new contract with video game studios, ending a nearly year-long strike. The agreement focuses on AI protections, ensuring ethical AI use, consent requirements, and safety measures for performers. It also includes pay increases over the upcoming years. This development highlights broader industry calls for legislative protections, such as the NO FAKES Act, against unauthorized AI replicas of individuals' likenesses and voices.

China's video games market recovers in 2023, domestic sales surpass $42.6 billion

Economic Times

Economic Times · 1y ago

China's video games market recovers in 2023, domestic sales surpass $42.6 billion

According to a report, China's video games market has rebounded in 2023 with domestic sales exceeding $42.6 billion. The recovery is attributed to factors such as increased investment in the gaming industry, the success of popular mobile games, and the growing number of gamers in the country. This growth presents significant opportunities for both domestic and international game developers in the Chinese market.

Google’s new AI will play video games with you — but not to win

The Verge

The Verge · 1y ago

Google’s new AI will play video games with you — but not to win

Google DeepMind has introduced SIMA, an AI agent that learns gaming skills to play video games more like a human. The agent, which stands for Scalable, Instructable, Multiworld Agent, is currently in the research phase. While SIMA aims to learn how to play any video game, it is not designed to replace existing game AI but to act as another player within the game. By combining natural language instruction with 3D world understanding and image recognition, SIMA can mimic human-like gameplay. The AI agent has been tested in collaboration with game developers, including Hello Games and Coffee Stain.

India Game Developer conference kicks off in Hyderabad

Economic Times

Economic Times · 9m ago

India Game Developer conference kicks off in Hyderabad

The India Game Developer Conference (IGDC) commenced, with global and local gaming developers and publishers exhibiting their immersive entertainment. The Ministry of Information and Broadcasting highlighted the importance of content and creativity in the gaming industry. They intend to collaborate with the Game Developer Association of India to nurture talent and establish India as a leader in the global gaming sector. Additionally, the formation of the Indian Institute of Creative Technology aims to enhance skill development in the video gaming industry. The conference attracted over 6,000 attendees on its first day.

Backed by Google's Gradient, Versed wants to help storytellers create video games using generative AI

TechCrunch · 2y ago

Backed by Google's Gradient, Versed wants to help storytellers create video games using generative AI

Versed, supported by Google's Gradient Ventures, aims to assist storytellers in using generative AI to create video games. The startup plans to leverage machine learning to automate game development processes, enabling creators to focus on storytelling rather than coding. By simplifying game creation, Versed hopes to empower a broader range of storytellers and expand the boundaries of interactive storytelling in the gaming industry. Versed wants to allow anyone to create their own role-playing game (RPG) simply by writing text-based stories and instructions.

Chingari Forays Into Web3 Gaming With Chingari Game Zone

Inc42 · 1y ago

Chingari Forays Into Web3 Gaming With Chingari Game Zone

Indian short video platform Chingari has entered the Web3 gaming space with the launch of Chingari Game Zone. Leveraging its expertise in social media and blockchain technology, Chingari plans to offer a curated selection of mobile games, starting with Ludo in a voice communication-based Web3 game format. Users will be rewarded with Gari tokens for using the platform. The company aims to expand its gaming portfolio in the next quarter and tap into the potential of blockchain technology to revolutionize the gaming industry.

Electronic Arts to lay off 5% of workforce, reduce office space

Economic Times

Economic Times · 1y ago

Electronic Arts to lay off 5% of workforce, reduce office space

Video game company Electronic Arts (EA) has announced plans to lay off 5% of its workforce and reduce real estate, in response to the slow growth of the gaming industry. The company expects to face charges of around $125 million to $165 million due to the restructuring. This move follows similar layoffs by industry giants Sony, Microsoft, and Tencent-owned Riot Games. CEO Andrew Wilson expressed that the company had taken careful consideration to limit the impact on its teams. The plan is anticipated to be completed by the end of the year.

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