Good morning. It’s Thursday, September 12. In today’s edition, we examine the underwhelming launch of Sony’s PlayStation 5 Pro, which failed to meet high consumer expectations. We also report on Nazara Technologies’ acquisition of a 15.86% stake in gaming platform STAN for INR 18.4 crore, a move aimed at expanding its presence in the Indian gaming community. Additionally, we look at Krafton’s recent $89.3 million investment in streaming company Spoon Labs, marking its largest foray into non-gaming sectors. These stories and more in today’s feature.
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Sony’s PlayStation 5 Pro Reveal Leaves Fans Wanting More
Sony’s unveiling of the PlayStation 5 Pro was expected to set the gaming world on fire. Instead, it ignited disappointment. With promises of cutting-edge upgrades and game-changing features, the stage was set for a major leap in gaming technology. But the presentation left fans underwhelmed, as the new console offered only modest enhancements over the standard PS5.
At $700, the PS5 Pro introduces improved ray tracing and AI-driven upscaling, but key upgrades, such as a CPU boost or groundbreaking new titles, were notably absent. The additional costs for accessories, like a separate disc drive, have only added to the growing frustration.
The details of what went wrong—and why fans are feeling let down—are explored in our feature article, which delves into the deeper issues surrounding the launch and Sony's strategy moving forward.
Nazara Technologies to Acquire 15.86% Stake in Gaming Platform STAN
Nazara Technologies, a prominent player in India’s gaming industry, is set to acquire a 15.86% stake in the gaming community platform GetStan Technologies Pte. Ltd (STAN) for INR 18.4 crore (approximately $2.2 million). The acquisition will be conducted through Nazara’s wholly owned subsidiary, Nazara Dubai FZ, as part of a secondary transaction from Akshat Rathee and Gautam Singh Virk, both of whom are co-founders of Nazara’s subsidiary Nodwin Gaming.
Rathee serves as Nodwin’s managing director, while Virk holds the position of chief operating officer. Both are influential figures in Nazara’s network, also holding directorships in other Nazara subsidiaries.
Founded in 2015 by Parth Chadha, Nauman Mulla, and Rahul Singh, STAN has quickly grown into a significant platform for gamers and content creators in India, boasting a user base of over 12 million. The company offers tools to facilitate interactions among gamers and support creators.
With this acquisition, Nazara aims to strengthen its position in the rapidly growing Indian gaming market. “This investment allows the company to expand its reach while empowering content creators,” Nazara said in a regulatory filing.
STAN reported revenues of $1.8 million in FY24, doubling from the previous year, though it continues to operate at a loss. The transaction is expected to be finalized within a month.
Quick Bytes
Krafton Invests $89.3 Million in Streaming Company Spoon Labs
PUBG maker Krafton has made its largest non-gaming investment, injecting KRW 120 billion ($89.3 million) into Seoul-based streaming firm Spoon Labs. Known for its audio platform Spoon, Spoon Labs recently launched Vigloo, a short-form K-drama video service. Krafton’s investment is driven by the growing potential of the short-form video drama market, valued at $5 billion in China, with strong markets in the U.S. and Japan. This move marks Krafton’s continued diversification into entertainment beyond gaming, as it seeks to expand its presence in emerging international markets.
India Gamer Behavior & Market Insights Report: Key Takeaways
The India Gamer Behavior & Market Insights Report reveals growing monetization opportunities, with 77.3% of PC gamers reporting higher spending in Q1 2024 compared to the same period last year. Female gamers spend 8.5% more than males on average. Rising disposable incomes and mobile-first esports tournaments are expected to boost engagement and ARPU. Battle royale games like BGMI and Free Fire dominate, with 57% of mobile gamers having played a battle royale title in the past three months. Influencers hold sway, with 57.2% of gamers discovering new titles through streamers, emphasizing the importance of social factors in game selection.
Ex-Sony President Suggests Laid-Off Workers "Drive an Uber" Until Industry Recovers
Former Sony Computer Entertainment Europe president Chris Deering dismissed the idea that recent gaming industry layoffs are driven by corporate greed, stating, "I don't think it's fair to say that the resulting layoffs have been greed." Speaking on Simon Parkin's My Perfect Console podcast, Deering suggested that affected workers "drive an Uber or go to the beach for a year" until the job market stabilizes. Acknowledging layoffs at Sony’s London Studio, he noted, "If the money isn't coming in from consumers on the last game, it's hard to justify spending for the next." Despite the challenges, Deering remains optimistic, saying, "These things do recover sometimes a lot faster than you might think."
Ubisoft Announces Offline Modes for Future Crew Titles After Backlash Over Server Shutdown
Following backlash from the shutdown of The Crew's servers earlier this year, Ubisoft has announced plans to introduce offline modes for The Crew 2 and The Crew Motorfest. The move comes after players lost access to all content, including single-player modes, when the servers were shut down in March. The controversy spurred the creation of the Stop Killing Games initiative, which advocates for game preservation. In response to the criticism, Ubisoft stated, "We heard your concerns," and confirmed offline modes are being developed to ensure long-term access for future titles, with more details coming soon.
Did You Know?
Takayoshi Sato, the CG director for the original Silent Hill, single-handedly created all of the game's haunting cutscenes. Despite starting with minor tasks like subtitle design and scheduling, Sato’s ambition to work on 3D projects led him to prove his skills with a personal four-second animation. After impressing higher-ups, he was eventually given full responsibility for the game’s cinematics—though only after a dispute with his boss, who doubted his ability to handle the workload alone.
Faced with the challenge of doing it all himself, Sato worked tirelessly. He spent nearly three years living at the office, sleeping under his desk and using the company's 150 computers to render scenes overnight after his colleagues had left. "I didn’t go home for three years, almost," Sato recalled. This dedication allowed him to take full control of the visual pipeline, ensuring he received proper credit for his work.
Sato's relentless effort gave Silent Hill its unforgettable cinematic moments, creating the eerie, unsettling atmosphere that became a hallmark of the series. His story highlights both his determination and the intense labor behind one of gaming's most iconic horror experiences.
Quote of the Day
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Hello, my name is Jack Sparrow. I'm a 50 year old self-employed Pirate from the Caribbean.
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