Activision fell under Vivendi's control way back in 2007 when it merged with subsidiary Vivendi Games in order to join forces with Blizzard and benefit from the enormous success of World of Warcraft. This year Grinding Gear Games, also Auckland-based, was acquired by the world’s largest games publisher Tencent for over $100M – one of the largest tech exits in New Zealand history. The combined value of software development earnings and local consumer spending totals $595m. November 2019. NZ gaming industry revenue up 43% on last year, OIO reveals Auckland's Grinding Gear Games sold for more than $100m. Gaming is a … Fast fibre is giving Kiwi developers a place in the multi-billion dollar global games industry. The combined value of software development earnings and local consumer spending totals $595m. Last month, Auckland-based Ninja Kiwi’s ‘Bloons Tower Defence 6’ became the No 1 paid app in the world, ranking above Minecraft, on both the Apple and Android app stores. It's both an internet and entertainment giant in China—the equivalent of Facebook or Google—but gamers worldwide are probably more familiar with Tencent's investments into a growing number of game developers and publishers. Grinding Gear Games announced Path of Exile 2 today, a sequel to its hit online action role-playing game. The agency green-lit Tencent to take up to a 100% stake in the West Auckland company (in the event, it took 80%) for a "consideration that exceeds $100 million." The acquisition of Ubisoft shares also heralded in a strategic partnership where Tencent would publish Ubisoft games in China, which caused its own flurry of backlash over censorship. New Zealand interactive game developers earned $203.4 million dollars during the 2019 financial year – double the $99.9m earned only two years earlier in 2017. “A massive 96 per cent of this revenue came from exports. Path of Exile – By Grinding Gear Games (New Zealand) PlayerUnknown’s Battlegrounds – By Bluehole (South Korean) Age of Conan, The Secret … Kiwi developers are beginning to look to China to boost revenue. The success comes from targeting audiences around the world and 96% of the industry’s earnings came from exports. He expects the industry to follow the same trajectory next year, with 63% of studios expecting more than 10% growth in the coming year. New Zealand game developers earned $143 million, a 43% rise, in the financial year ended March 31, according to an independent survey by the New Zealand Game Developers Association. Support for startup game businesses is being probed in a report on Interactive Media and Video Games being undertaken by NZ Tech and the association. Menu . Flightless’ John O’Reilly echoes this line of thinking, saying that growing more local talent is … So far it is wanting promising, however we’ve no monetary requirement to depend on revenue from the cell undertaking so we’re in a position to take our time and ensure it is what we’d like it to be earlier than we launch it. Although overall Fortnite has fallen off of the top 10 earners for mobile list for January 2019 according to Superdata. More recently, Tencent has announced plans to acquire Funcom entirely. As part of our ongoing coverage of PC gaming in China, it's also important to understand the growing influence Chinese gaming companies like Tencent have on the global market. Tencent purchased 48.4 percent of the remaining shares in Epic at the time, which equates to an overall total of a 40 percent stake in Epic Games. Tencent has acquired a controlling interest in Grinding Gear Games. Association chairman Michael Vermeulen says that success comes from studios developing and exporting their own original game IP, rather than contracting for publishers or Hollywood studios. Wanting to cash in on the mobile gaming boom, Tencent tried to get Riot to make a mobile version of LoL. You will receive a verification email shortly. ... (2015-2019) Stoxx Europe 600 : +21,39% S&P 500 NY : … We've updated the article to reflect that. Sign up to get the best content of the week, and great gaming deals, as picked by the editors. It also owns around 20 percent stake in Sea, a South-East Asia esports and publishing company, an undisclosed majority stake in web game publisher Miniclip, and about a half a dozen minority stakes in a variety of mobile game companies to boot. Tencent's revenue was reported to be ¥377.29 b in FY, 2019 which is a 20.7% increase from the previous period. Sector imbalance Central Europe. In 2019, 90 Seconds raised NZ$28 million in Series B funding from investors including AirTree Ventures, Sequoia India, Qualgro ... Grinding Gear Games and investing in RocketWerkz. Platinum Games - Undisclosed investment: At the beginning of 2020, Tencent invested an undisclosed amount into Platinum Games, but the terms of the deal aren't specified. Update, 10/7/2019: Originally this article stated Tencent owned a 39.7 percent stake in Sea but that number was outdated. In addition to making video games, New Zealanders spent $118m in retail stores on games and $334m on digital and mobile gaming during 2017, according to figures from the Interactive Games Entertainment Association. Console revenue dipped by … ... “A great example of the innovation and growth of this industry is in my own … Grinding Gear Games (abb. In the year since, little has changed about Path of Exile's economy or microtransactions despite the game's continued growth. The best microphone for streaming, gaming, and podcasting. Even stakes in smaller teams like Path of Exile creator Grinding Gear Games and Frontier Developments, maker of Jurassic … It paid off. Embarrassing. “While those trailblazers have proved games can be a sustainable and profitable business, we’re not seeing a pipeline of new fast-growing studios to join their ranks.”. Kenichi Sato, Platinum's president and CEO, said Tencent "has no effect on the independence of our company, and we will continue operations under our current corporate structure.". With Tencent's investment, Epic scrapped Unreal Engine 4's monthly subscription in favor of a free version where Epic earned royalties on sales. Ph: +64 (0)9 307 1629. The situation looked grim until Ubisoft struck a deal with Vivendi that saw the French conglomerate divest its stake to a variety of investors that included Tencent. But considering 60 percent of Tencent's $19.13 billion in gaming revenue last year came from mobile games, and Supercell's enduring hits like Clash of Clans, the acquisition makes a lot of sense. Check Tencent net worth in 2020, share price and sources of income here! ... now have ten studios in three countries and reported revenue of more than £38 million for the year ended 31 December 2018. Grinding Gear Games (abb.GGG) is a New Zealand video game developer company founded in 2006 and based in Auckland.A former independent developer, the studio was acquired by Chinese tech company Tencent in May 2018, after the Chinese company had published the studio's sole title, Path of Exile, in China (excluding Hong Kong and Macau). Future Publishing Australia ABN: 96 734 906 323 | PO Box 1077, Mount St, Yager - Undisclosed investment: In February of 2020, Tencent also invested an undisclosed amount into Yager, the developer of Spec Ops: The Line among some more recent but less notable free-to-play games. Superdata and Sensor Tower report revenue for mobile titles like Fortnite and Pokemon Go, showing decline overall. Its founding members come from various countries and have a selection of diverse backgrounds ranging from artificial intelligence and software security to industrial design to professional tournament game play. Employment in the sector also grew 10% to 550 fulltime roles. Exports of digital creative entertainment software made up the bulk (93%) of revenue. Home; Gaming Videos; POE News; Gaming News. Major Japanese companies featured prominently in mind-share, from hardware manufacturing to software hits, while the world’s largest gaming company broke through a difficult regulatory environment. This is the first time that the TIN200 has achieved two consecutive years of over $1B revenue growth. Thank you for signing up to PC Gamer. 2019 saw an annual revenue of NZD$203 million; up 42 percent from 2018's $143 million. Developer Grinding Gear Games held the first-ever fan conference, ExileCon, within the developer' Sign in. It was a bit of a disaster, and quite a … UPDATE / May 31: An Overseas Investment Office decision approving Tencent's investment in Grinding Gear Games has revealed the purchase price, or at least its lower limit. Research and Development spend rose almost in line with revenue growth, rising 10.2% to just below $1 billion ($991 million). New Zealand’s half a billion dollars interactive gaming industry continues to grow on the back of IP exports. That's probably just the beginning, though, as Tencent is rumored to be seeking a complete acquisition of Bluehole. Kakao - 13.5 percent: Kakao is a South Korean internet and entertainment company whose games subsidiary is responsible for the mega-hit Black Desert Online, which surpassed $1 billion in gross sales last year, and also publishes PUBG in South Korea. This data has been collected and aggregated by TIN over the past fourteen years. Tencent is the name behind world most famous games at the moment. He's Canadian but can't ice skate. Sharkmob - 100 percent: This new studio comprised of ex The Division and Hitman devs was fully bought by Tencent in early 2019, though it hasn't announced its first game yet. Path of Exile is a free online-only action RPG under development by Grinding Gear Games in New Zealand. Grinding Gear Games (Path of Exile) - 80 percent In 2018 Tencent snatched up a majority stake in the New Zealand developer of Path of Exile, Grinding Gear Games. 8 Commerce Street Some of the links above are affiliate links. According to the survey, 24% of studios thought skills shortages were constraining the growth of their business, especially for experienced senior staff. Grinding Gear Games announces a sequel with a series of notable changes and improvements over the first game. Though developers might pay more for a successful game in the long run, it opened Unreal Engine up to an enormous community of indie developers and helped fuel intense competition between rival engine, Unity, which up until then was considered to be the best technology for small developers. The game was released worldwide on 1 October 2019. Achilles House Yes, Tencent a piece of both Fortnite and PUBG, the two dominant battle royales. A quick reference of how China's largest tech conglomerate has quietly expanded into videogames. Path of Exile was listed as one of the top ten most-played games on Steam in 2018. North America continues to be a highly attractive export . Level 3, Suite 306 So far we have historically been really lucky to almost always avoid directly clashing with the release of other major games. Discord: Discord has received $158 million in funding last year, including an undisclosed amount from Tencent (among many other investors). In contrast, the global movie industry reported $100 billion in revenue in 2019. Like Riot Games, Supercell reportedly retains most of its independence and is still located in Finland. Thank you for using my links. The 10 largest studios in New Zealand earned 94% of the revenue and employed 81% of the industry, he says. Friday 15th November 2019. determined by revenue). The game is seeing plenty of growth in other territories as well. Visit our corporate site. Years before Ubisoft, Tencent helped another company escape Vivendi: Activision Blizzard. That covers most of the companies that PC gamers will care about. Svenska Spel Signs Sponsorship Deal with Swedish Ski Association. 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