Roblox Tops $45 Billion on First Day of Trading as Gaming Booms
The gaming site, valued at $4 billion a year ago, has benefited from the way children are passing their time in the pandemic.
Welcome to Bloxburg is one of many games in Roblox’s online universe, where players have avatars and can interact with one another.Credit.Roblox
March 10, 2021
When the pandemic forced people indoors a year ago, many passed the time by playing games on their iPhones, building gaming computers and exploring the latest blockbuster titles on their Xbox and PlayStation consoles.
For video game companies, that has meant gushers of cash. A record $56.9 billion was spent on gaming last year in the United States, up 27 percent from 2019, according to the NPD Group. Sony, which released the PlayStation 5 in November, recently reported a 62 percent profit jump while Microsoft tallied $5 billion in quarterly gaming revenue for the first time, helped by sales of its new Xbox devices.
The independent developer of Disintegration, V1 Interactive is shutting down, the company has announced. It follows the disappointing sales of their first game, an innovative hybrid of first person sh
Rockstar Isn’t Interested in Ports of Older Titles
During the recent Morgan Stanley Technology Media & Telecom Conference, Take-Two Interactive CEO Strauss Zelnick discussed future remasters from Rockstar Games. The company plans to continue doing proper remasters in the future rather than simple ports of older titles similar to the recent Mafia remaster as opposed to something like Uncharted: The Nathan Drake Collection. Mafia: Definitive Edition is available now for Xbox One, PS4, and PC.
Take-Two Interactive CEO Strauss Zelnick was quick to remind gamers during the Technology Media & Telecom Conference that Grand Theft Auto V is entering its third generation of consoles with the upcoming remaster coming to Xbox Series X and PS5. Just like other Rockstar Games that are remastered for newer platforms, this means improved technology and visuals, performance enhancements, load improvements, etc.