The games industry needs a new growth driver if it is to thrive once again - Karol Severin and Perry Gresham, Midia Research

Hey there!

🎉 But we have so much more:

Bungie addresses player dissatisfaction amid layoffs and Destiny 2 expansion delay.

Some banned Twitch users can be reinstated and Devolver Digital has acquired System Era Softworks

Oh, and rumors are talking about a God of War Ragnarok DLC, which we really hope to be true.

Play on:

Welcome to The Power-Up #33

Biz Reel

🤝 Devolver Digital has acquired Astroneer's developer, System Era Softworks, in a deal potentially worth $40 million. Devolver is the publisher behind titles like Cult of the Lamb, Return to Monkey Island, Loop Hero and more.

🤑 By 2030, the video games industry is projected to surpass $300 billion in revenue with 3.8 billion players globally, according to Midia Research.

🔦 Remedy reported a 1.1% decline in Q3 2023 revenue, dropping from €7.9 million to €7.8 million. Despite a dip in overall revenue, Alan Wake Remastered performed well, and the company has several upcoming titles, including Control 2 and remakes of Max Payne 1 and 2.

🏆 Honkai: Star Rail led gacha game earnings with $44 million in October, outpacing Genshin Impact by $6 million.

📈 Sega Sammy reports a decade-best financial performance, with a 21.4% rise in net sales, attributing the success to franchises like Sonic, Persona, and Like a Dragon, especially outside of Japan.

🤝 Sony Interactive Entertainment acquires AI developer iSIZE to enhance video processing and streaming capabilities, potentially benefiting the PlayStation 5 and future consoles.

Industry Level-Up (or Down)

🤝 Craig Chapple returns to PocketGamer.biz as Head of Content after a diverse 12-year career in the games industry, aiming to provide leading news, interviews, and analyses alongside the editorial team.

👍 Shannon Gerritzen is promoted to Head of Publishing at IllFonic after previously serving as their VP of Marketing and Communications. 

👍 Shannon Liao has been appointed deputy gaming editor at Inverse.com after previously covering gaming at The Washington Post. Liao, a Vassar College graduate, has also contributed to The New York Times, The Verge, Vice, and CNN Business.

Round-Up

🙅‍♂️ The Twitch app for Nintendo Switch is ending support, with new downloads halted from 6th November and full access discontinued by 31st January 2024, likely due to underuse. 

🤕 Also, Twitch has updated its appeals process, allowing some banned streamers to apply for reinstatement after serving a minimum of six months suspension. However, streamers banned for "high-severity harms", such as violence or serious illegal activity, remain ineligible for reinstatement.

🤖 Ubisoft faced backlash after using AI-generated imagery on Twitter, with fans criticizing the decision, especially following recent layoffs at the company. The community's response was overwhelmingly negative, pointing to the company's perceived disregard for artists and preference for cost-cutting.

😬 After recent layoffs, Bungie has assured fans of Destiny 2's continued development with around 650 developers still on the project, and they are committed to delivering the upcoming Final Shape expansion.

📺 HBO will start production for season two of The Last of Us in early 2024, with its release anticipated for 2025 due to industry strikes. 

🔧 Gaijin Entertainment has quietly open-sourced its Dagor Engine, used by War Thunder, on their official GitHub.

👵 Nintendo has launched an initiative to place Switch consoles in Japanese senior centres, promoting gaming among the elderly. The move, which began as smaller test events, is expanding to 200 centres, featuring games like Dr Kawashima's Brain Training and Mario Kart 8 Deluxe.

Game Central

🤥 Game director Jiwon Choi confirmed a sequel for Lies of P and teased upcoming DLC with two new images.

🪓 A report suggests that a God of War Ragnarok DLC announcement is expected later this year, possibly at The Game Awards. While the DLC might be a standalone game similar to Spider-Man Miles Morales, Sony has yet to officially confirm any such plans.

🕹️ Sega announces Sonic Dream Team, a 3D platformer for Apple Arcade launching on December 5. The game offers unique dream worlds, spectacular boss battles, and is available across iPhone, iPad, Mac, and Apple TV.

🩼 Ascendant Studios is releasing a major PS5 patch for Immortals of Aveum on 16th November 2023, introducing new content, New Game+, and a challenging Grand Magnus difficulty mode. Also, a performance-boosting patch is expected.

🔫 Call of Duty: Modern Warfare III needs over 200GB on next-gen consoles, with its new download manager taking up about 50GB. 

7️⃣ IO Interactive is developing a new James Bond game, Project 007, aiming for a scripted experience distinct from Hitman's approach. The game will feature an original James Bond, not based on any movie or actor, with a release expected no earlier than 2025.

That’s it for today. Thanks for reading. Stay powered-up until next time.

Bobby & Andrei