Videogames are serious business in China. The country’s online game market will reach 41 billion yuan ($6 billion) by 2010, accounting for half the global market, according to newly released data from Cnzz.com, a Beijing-based data analysis firm.
The Cnzz.com report says that almost two-thirds of China’s 338 million Web users are now online gamers. The online-game industry, which currently accounts for more than half of the total Internet economy, will see strong annual growth at a rate of 20 percent in future years, the report says.
by Yukari Iwatani Kane, Reporter, The Wall Street Journal
Blowing away terrorists, apparently, never gets old.
The new videogame Call of Duty: Modern Warfare 2, set to hit stores Tuesday, is a sequel spawned by sequels. But rather than following the frequent pattern of franchises fading as they age, Modern Warfare 2 is the most highly anticipated game of the season.
The turf battle between two Chinese bureaucracies appears to be escalating, with NetEase and the World of Warcraft videogame at its center.
According to a statement, China’s General Administration of Press and Publications said it rejected NetEase’s application to operate Burning Crusades, the latest version of World of Warcraft.
by Eric Savitz, Blogger and Columnist, Barron's, Tech Trader Daily
Activision Blizzard shares are down sharply for the second straight day after CEO Bobby Kotick disclosed the sale of a large block of shares.
Kotick personally sold one million shares at an average price of $10.1834 a share, and another 242,425 shares held by a trust he controls.
by Eric Savitz, Blogger and Columnist, Barron's, Tech Trader Daily
Comments from Merrill Lynch analyst Justin Post this morning are affecting the outlook for videogame stocks. Post cites data that indicate a drop in consumer spending in November–and he states that even though Merrill’s overall thesis is that the videogame category will remain strong, pricing pressure and the reality of the unfolding economic downturn dictate a more cautious view.
by Eric Savitz, Blogger and Columnist, Barron's, Tech Trader Daily
Guitar Hero World Tour couldn’t boost Activision Blizzard’s share price despite a decent debut this weekend. Decent, but not stellar. Wii and Xbox 360 versions of the game were near-sellouts, the PS3 version less so. Good news, then, that UBS analyst Benjamin Schachter thinks the videogame industry could be recession-resistant.
by Eric Savitz, Blogger and Columnist, Barron's, Tech Trader Daily
Kaufman Brothers analyst Todd Mitchell this morning raised his ratings on Activision Blizzard (ATVI), Electronic Arts (ERTS) and THQ (THQI), While Mitchell also is cutting estimates and price targets for the stocks, he thinks they are “oversold in a tough market.”
by Eric Savitz, Blogger and Columnist, Barron's, Tech Trader Daily
Activision Blizzard (ATVID) shares are trading lower following the company’s fairly complex June quarter report and 2008 outlook. Complicating the picture is the logistics of the merger of Activision and Blizzard. The company posted stand-alone results for Activision for the quarter, but gave guidance for the combined companies.
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