NEW YORK, August 9, 2017 /PRNewswire/ --
According to a research report published by NEWZOO, this year is a landmark for the gaming market. Revenues have exceeded $100 billion, to a total of $109 billion. When Newzoo launched its first Global Games Market Report five years ago, global revenues summed up to $70 billion. 56% growth in revenues in the last five years provides a clear outlook on how gaming companies have found new ways to engage and entertain consumers. Revenues in North America are projected to increase year-over-year by 4.0% to $27 billion and the majority of this growth will come from smartphone or mobile gaming. Versus Systems, Inc. (OTC: VRSSF), Activision Blizzard, Inc. (NASDAQ: ATVI), Electronic Arts Inc. (NASDAQ: EA), Microsoft Corporation (NASDAQ: MSFT), Take Two Interactive Software Inc. (NASDAQ: TTWO)
Excluding China, Japan, and Korea, the region of Asia is expected to be the fastest growing area for games, as revenues are expected to grow to $10.5 billion in 2020 from the current benchmark of $4.5 billion in 2016. According to the report, mobile gaming has been the largest segment of the games market in 2017 where 42% of the global market is comprised of mobile gaming. Mobile gaming on a global scale accounts for 2.1 billion consumers where the majority play games on smartphones. Console gaming is the second largest portion of the game market, grossing $33.5 billion in 2017 year to date.
Versus Systems, Inc. (OTCQB: VRSSF) is also listed on the Canadian Stock Exchange under the ticker symbol 'VS'. Earlier today the company just announced, "It has partnered with 704Games to provide in-game prizing in their upcoming titles. 704Games is working with Versus System's prizing and promotions platform to provide players with opportunities for in-game prizing and real-world rewards in their upcoming titles on mobile and console. In spring 2017, 704Games released NASCAR Heat Mobile, the first authentic NASCAR racing game on mobile to feature 40 stock cars racing simultaneously. 704Games also recently announced the upcoming release of NASCAR Heat 2, which will be available on Xbox One, Playstation 4, and PC.
"We think this can be a great way to bring new, exciting engagement to our games and also blend in the wide-range of sponsors across the sport," said Ed Martin, President of 704Games. "We're looking forward to working with Versus to see how we can use our games to bring this to the fans."
Matthew Pierce, CEO of Versus Systems said, "We are thrilled to be working with 704Games to give gamers the opportunity to win real prizes from their favorite brands inside their favorite racing games. This is a fantastic partnership for us and we look forward to building Versus prizing into all of 704Games upcoming titles."
Activision Blizzard, Inc. (NASDAQ: ATVI) reported second quarter earnings for the fiscal year 2017 on August 3rd. For the quarter ended June 30, 2017, Activision Blizzard's net revenues presented in accordance with GAAP were $1.63 billion, as compared with $1.57 billion for the second quarter of 2016, an increase of 4%. GAAP net revenues from digital channels were $1.31 billion, growing 15% year-over-year. GAAP operating margin was 21%. GAAP earnings per diluted share were a Q2 record of $0.32, as compared with $0.20 for the second quarter of 2016, an increase of 60%. Bobby Kotick, Chief Executive Officer of Activision Blizzard, said, "This was another strong quarter for Activision Blizzard. We exceeded our outlook and delivered record revenues for the first half of 2017. Celebrating players and audiences is the foundation for our success. This quarter we announced the first team owners in the Overwatch League™, the first major global, city-based professional eSports league. With hundreds of hours of broadcast content ahead of us, as well as significant sponsorship and media opportunities, the Overwatch League will provide new ways for us to highlight and support the passion of eSports fans and the skill of some of the world's top Overwatch® players."
Electronic Arts Inc. (NASDAQ: EA) on July 27th reported financial results for the first quarter for the fiscal year 2018. The company reported digital net sales of $3.147 billion for the trailing-twelve-month period represents 63% of total net sales, up 23% year-over-year. "Q1 was an outstanding quarter, with thriving player communities in our top franchises like Battlefield, our EA SPORTS portfolio, Star Wars, and The Sims continuing to grow our network and drive our digital business," said Chief Executive Officer Andrew Wilson. "We have built strong momentum, and now we are accelerating into a year of tremendous innovation, where extraordinary new games, content-rich live services, and expanding global competitions will deliver more fun for our players and fuel growth for Electronic Arts."
Microsoft Corporation (NASDAQ: MSFT) on July 20th reported fiscal year 2017 fourth quarter earnings. In the report the company indicated that their gaming business is now more than $9 billion, and growing profitably. Microsoft's CEO Satya Nadella explained, "The gaming world is evolving faster than ever before - from game play across multiple devices, to the explosive growth in streaming and eSports, to new subscription services and mixed reality scenarios. We are uniquely positioned to capture a larger share of this opportunity because of our ability to unite the global community of gamers through Xbox Live - now 53 million strong and growing - and to enable new experiences across PC, console and mobile. Our approach is to let gamers play the games they want, with the people they want, on the devices they want."
Take Two Interactive Software Inc. (NASDAQ: TTWO) on August 2nd reported results for its fiscal first quarter 2018, ended June 30, 2017. Net revenue grew 34% to $418.2 million, as compared to $311.6 million in last year's fiscal first quarter. The largest contributors to net revenue in fiscal first quarter 2018 were NBA® 2K17, Grand Theft Auto V® and Grand Theft Auto Online, WWE® 2K17 and WWE SuperCard, and Mafia III. Digitally-delivered net revenue grew 56% to $268.2 million, as compared to $172.1 million in last year's fiscal first quarter. Recurrent consumer spending (virtual currency, downloadable add-on content and microtransactions) grew 72% year-over-year and accounted for 63% of digitally-delivered net revenue, or 41% of total net revenue. Net income increased to $60.3 million, or $0.56 per diluted share, as compared to net loss of $38.6 million, or $0.46 per diluted share, for the comparable period last year.
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