Despite Massive Layoffs In Gaming, Media Giants Like Netflix Are Embracing The Sector

Observer02-28

What is the deal with all the gaming layoffs? Industry expert Cathy Hackl weighs in. Rafael Henrique/SOPA Images/LightRocket via Getty Images While many media companies are recognizing the value ...

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Industry expert Cathy Hackl weighs in. \n  Rafael Henrique/SOPA Images/LightRocket via Getty Images\n\n\nWhile many media companies are recognizing the value ...</p>\n\n<a href=\"https://finance.yahoo.com/news/despite-massive-layoffs-gaming-media-030949300.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Despite Massive Layoffs In Gaming, Media Giants Like Netflix Are Embracing The Sector</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDespite Massive Layoffs In Gaming, Media Giants Like Netflix Are Embracing The Sector\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-02-28 11:09 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/despite-massive-layoffs-gaming-media-030949300.html><strong>Observer</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>What is the deal with all the gaming layoffs? Industry expert Cathy Hackl weighs in. \n  Rafael Henrique/SOPA Images/LightRocket via Getty Images\n\n\nWhile many media companies are recognizing the value ...</p>\n\n<a href=\"https://finance.yahoo.com/news/despite-massive-layoffs-gaming-media-030949300.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0320765489.SGD","symbol_name":"FTIF - Franklin Mutual US Value A Acc SGD","start_time":0,"source_url":"https://finance.yahoo.com/news/despite-massive-layoffs-gaming-media-030949300.html","article_id":"2415825445","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/tYQGvP4q_Frw0RS__UFW7Q--~B/aD02NDY7dz05NzA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/observer_419/580da88582b960707cf1a0efae0aefdd"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2415825445","pubTimestamp":1709089789,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"What is the deal with all the gaming layoffs?While many media companies are recognizing the value of video gaming, the traditional gaming industry itself is experiencing growing challenges that have led to layoffs across the sector. So far this year, over 7,000 gaming jobs have been cut at companies like Twitch, Activision Blizzard  and Riot Games. Today , Sony’s Interactive Entertainment unit, which produces PlayStation game consoles, laid off 900 staffers, or 8 percent of the team, and closed its gaming studio in London.“We will continue to see layoffs in the gaming space this year,” Hackl added. “I think many companies that have done layoffs have seen a positive response to the layoffs from shareholders, so they will continue to sadly conduct more layoffs.”“Some of the companies that are jumping into gaming might have executives who are ill-suited to run gaming companies, a","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0320765489.SGD":"FTIF - Franklin Mutual US Value A Acc SGD","BK4524":"宅经济概念","BK4577":"网络游戏","BK4527":"明星科技股","LU0070302665.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) ACC","LU2326559502.SGD":"Natixis Loomis Sayles US Growth Equity P/A SGD-H","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","WBD":"Warner Bros. 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Industry expert Cathy Hackl weighs in. \n  Rafael Henrique/SOPA Images/LightRocket via Getty Images\n\n\nWhile many media companies are recognizing the value of video gaming, the traditional gaming industry itself is experiencing growing challenges that have led to layoffs across the sector. So far this year, over 7,000 gaming jobs have been cut at companies like Twitch, Activision Blizzard (ATVI) and Riot Games. Today (Feb. 27), Sony’s Interactive Entertainment unit, which produces PlayStation game consoles, laid off 900 staffers, or 8 percent of the team, and closed its gaming studio in London.  \n“Rapid change, excessive hiring, cost hikes and more access to creation tools” are all factors affecting the gaming industry right now,” Cathy Hackl, an entrepreneur consulting Fortune 500 companies including Nike and Walmart on strategies involving gaming, artificial intelligence (A.I.) and virtual reality (V.R.), told Observer in an email. \n“We will continue to see layoffs in the gaming space this year,” Hackl added. “I think many companies that have done layoffs have seen a positive response to the layoffs from shareholders, so they will continue to sadly conduct more layoffs.” \nIn terms of A.I., every industry is trying to adapt to the new technology, and gaming is no exception as key hardware suppliers like Nvidia shift to developing chips for training A.I. models instead when its priority used to be making graphics cards for video games. According to Hackl, some gaming companies and executives are waiting cautiously to see how generative A.I. will impact the industry.         \nMedia giants are pouring money into gaming\nOn the other hand, the media industry is leaning into gaming more than ever. The Walt Disney Company, Netflix and Warner Bros. Discovery (WBD) are just some of the companies that are investing in original games, as well as licensing and extending their IP into gaming.   \n“All these companies are finally recognizing that gaming as an industry is bigger than film and music combined. That recognition was long overdue,” Hackl said. “Just like in the 2010s, we saw most companies start to embrace being tech companies, even though many were not tech companies (like WeWork); we’re seeing companies start to, in some ways, mirror this and become gaming companies.”  \nHackl pointed to mobile games as a promising area, where TikTok and Netflix (NFLX) are claiming stakes as non-gaming platforms. She is also bullish on platforms that focus on incorporating user-generated content in gaming, like Roblox. She said media companies that are investing in gaming are making a smart move, but only if they hire experienced gaming leaders rather than relying on traditional media executives. A good example is Netflix hiring Mike Verdu, Meta’s former head of AR/VR content, as head of gaming in 2021. \n“Some of the companies that are jumping into gaming might have executives who are ill-suited to run gaming companies, are not gamers, or don’t understand the culture of gaming,” Hackl said. “That is a recipe for disaster, and for more layoffs, they think the traditional media ways work in gaming.”\n\nTrending Observer Stories\n\nThe Ultimate Guide to 2024's Luxury Watches for the Modern Man\nWho Is Ruth Gottesman, the Donor Behind an Unprecedented $1B Gift to Albert Einstein College of Medicine?\nCBD Products—Top 7 & Buyer’s Guide (Updated 2020)\n10 New York Restaurants Truman Capote’s Swans Would Dine at Today\nWhat to Watch on Streaming This Week: February 23-29\n\n\n Read the original story Despite Massive Layoffs In Gaming, Media Giants Like Netflix Are Embracing The Sector and others by Nhari Djan at Observer.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2415825445"}