Tag: Tencent

  • Tencent Invests in Ubisoft Games After Assassin’s Creed Success

    Tencent Invests in Ubisoft Games After Assassin’s Creed Success

    Key Takeaways

    1. Ubisoft’s new game, Assassin’s Creed Shadows, has surpassed 3 million players, highlighting its success.
    2. Tencent is investing €1.16 billion for a 25% stake in a new subsidiary that will focus on Ubisoft’s top franchises: Assassin’s Creed, Tom Clancy’s Rainbow Six, and Far Cry.
    3. Ubisoft will maintain control and licensing rights in the new subsidiary, which includes studios in various global locations.
    4. The investment aims to enhance game development speed, reduce net debt, and promote growth for the franchises involved.
    5. There is uncertainty about how the deal will impact Ubisoft employees, but leadership is committed to open communication during the transition.

    Ubisoft has recently celebrated a significant achievement with its newest game, Assassin’s Creed Shadows, surpassing 3 million players, though specific sales numbers haven’t been shared. Following this milestone, Ubisoft revealed plans to create a new subsidiary that will encompass its top three franchises: Assassin’s Creed, Tom Clancy’s Rainbow Six, and Far Cry. Tencent is set to acquire a 25% stake in this venture.

    Tencent’s Investment

    As per the announcement, Tencent will inject €1.16 billion into the new subsidiary, which currently holds an enterprise value of approximately €4 billion. Yves Guillemot, Ubisoft’s Co-founder and CEO, described this agreement as a “foundational step” aimed at speeding up game development, cutting down the company’s consolidated net debt, and promoting growth for these franchises.

    Structure of the New Subsidiary

    While Tencent will hold a 25% share of the new entity, Ubisoft will maintain control, consolidation, and licensing rights. The studios involved in this new structure include locations in Montréal, Quebec, Sherbrooke, Saguenay, Barcelona, and Sofia, along with their existing and upcoming games and back-catalogs.

    Guillemot also mentioned,

    “We are dedicated to creating a sharper, more focused organization where skilled teams will elevate our brands, foster the growth of new franchises, and spearhead innovation in next-gen technologies and services. Our aim is to provide enriching, memorable games that not only meet but exceed players’ expectations while delivering superior value for our shareholders and other stakeholders.”

    Future Implications for Employees

    Tencent’s participation in Ubisoft’s strategy isn’t surprising, especially considering the Chinese technology giant was rumored to be interested in buying out Ubisoft’s entire stake last year when Ubisoft’s market value plummeted to €1.7 billion after a significant drop in stock prices due to the poorly received Star Wars Outlaws. Following this latest news, Ubisoft’s shares traded in the US rose by 20%, according to Bloomberg.

    However, how this deal will affect staff at the various studios remains uncertain. Insider Gaming obtained an internal message from Ubisoft’s Chief Studios and Portfolio Officer, Marie-Sophie de Waubert, which stated,

    “…Naturally, this brings uncertainty and questions. At this moment, we might not have all the specific answers, but we are devoted to communicating with you openly and frequently. Supporting you during this transition is the highest priority for both your local and global leadership teams. Please feel free to reach out to them and stay tuned locally; traditional or special ‘studio times’ will also serve as good platforms to keep you informed and address your inquiries.”

    Only time will tell how effectively this new strategy will enable quicker and higher-quality releases for these beloved franchises.

    Buy Assassin’s Creed Shadows Limited Edition for PS5 and Xbox Series X on Amazon

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  • Light of Motiram by Tencent Subsidiary Copies Horizon Zero Dawn

    Light of Motiram by Tencent Subsidiary Copies Horizon Zero Dawn

    Games with a similar theme are not rare. For instance, Mario Kart has inspired many clones over the years, including recent titles like Nickelodeon Kart Racers, Disney Speedstorm, and Lego 2K Drive. Yet, there are times when a game might be labeled a rip-off, and that seems to apply to Light of Motiram, an upcoming open-world survival crafting game that bears a resemblance to Sony’s Horizon Zero Dawn.

    Trailer Insights

    The game’s announcement trailer showcases a world inhabited by mechanical creatures known as Mechanimals, which are reminiscent of the ones seen in Horizon Zero Dawn. Additionally, we meet the main character who is accompanied by a flying robot buddy that seems similar to BD-1 from Star Wars Jedi: Survivor.

    Unique Features

    Polaris Quest, a subsidiary of Tencent, is developing and publishing Light of Motiram, and they aim to set their game apart from Horizon Zero Dawn in several ways. For starters, this game emphasizes crafting, as players will need to create and build a base using resources like wood and bricks.

    Players will also have the ability to tame, train, and personalize numerous Mechanimals that can aid in combat or production tasks. Moreover, Light of Motiram features a multiplayer option that lets teams of up to 10 players tackle enemies, hunt creatures, and gather resources together.

    Availability and Future

    Light of Motiram will be accessible on PC through Steam and the Epic Game Store. It has also been confirmed that it will launch on PS5, Android, and iOS, with cross-platform progression support. Although there is no exact release date set, it is reported that the game is planned for 2025.

    After the announcement of Light of Motiram, Sony has not commented on the game. It is uncertain whether they will pursue legal action against the developers, similar to how Nintendo acted against the creators of Palworld, a game that resembles Pokémon.

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  • Monster Hunter Outlanders: Classic Adventure Hits Mobile, Trailer Out

    Monster Hunter Outlanders: Classic Adventure Hits Mobile, Trailer Out

    Capcom has shared news about a new Monster Hunter game, working together with TiMi Studio Group, which is part of Tencent. In 2020, they tried to capture the spirit of the beloved open-world survival game with Monster Hunter Riders, but unfortunately, the game was shut down in June 2022. The upcoming title, Monster Hunter Outlanders, promises to be larger and more true to the original experience.

    Stunning Visuals

    The official trailer introduces viewers to the beautifully varied environments typical of the Monster Hunter series, showcasing lush jungles, arid deserts, and towering mountains. The latter half of the trailer provides a glimpse into gameplay, highlighting different ways to navigate the world, though it lacks any visible user interface or fighting scenes.

    Gameplay Features

    In Monster Hunter Outlanders, players will have the ability to glide, swim, climb, or use a grappling hook to traverse the landscape. It will also feature the well-known crafting and companion systems that fans of the main Monster Hunter games on consoles and PC are familiar with. Anjanath, a fan-favorite monster, makes an appearance, suggesting that it may be available to hunt in the mobile version.

    Release Information

    Currently, there is no specific release date for Monster Hunter Outlanders from Capcom and TiMi. Nevertheless, the developers plan to hold several beta tests. If you’re interested in participating, you can sign up on the official website to learn more.

    Fans on Reddit have reacted positively to the visuals seen in the first trailer. However, there are also worries about potential microtransactions and how well the game will function on mobile devices.

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  • Alibaba and Tencent, Leading Gaming Titans, Embrace the Palworld Craze

    Alibaba and Tencent, Leading Gaming Titans, Embrace the Palworld Craze

    The Gaming Landscape in China: Alibaba and Tencent Compete in Cloud Services

    The gaming industry in China is experiencing an unprecedented rush as two of the country’s technology giants, Alibaba and Tencent, dive into a competitive frenzy over cloud services. This frenzy has been fueled by the explosive popularity of Palworld, a game that combines open-world survival with creature collecting.

    Palworld, developed by Tokyo-based studio Pocketpair, has taken the gaming community by storm. Within just days of its release, the game has sold a staggering 8 million copies on Steam. Palworld allows players to catch, raise, and battle with creatures called Pals in a vast open world, pushing the boundaries of the traditional creature-collecting genre. However, the game’s immense success has put a strain on its servers, leading Pocketpair to offer the option for players to run the game on private servers. This move has caught the attention of China’s cloud service giants, Alibaba and Tencent.

    Capitalizing on this opportunity, Alibaba and Tencent have introduced dedicated server plans specifically for Palworld players. These companies are offering competitive pricing in an attempt to attract the game’s growing fanbase. This development signifies a new battleground in the cloud computing sector, where Alibaba and Tencent have historically competed fiercely.

    While Palworld’s success is undeniable, it has not been without controversy. The game has faced scrutiny over potential intellectual property issues with The Pokémon Company. This highlights the challenges of innovation within the tightly regulated world of gaming copyrights. Nevertheless, Palworld continues to experience a massive influx of players, making it one of the most popular games in recent times. It will be interesting to see how the game progresses in the future.

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  • Huawei, Tencent, and Baidu Spearhead China’s Ambitious Three-Year Metaverse Initiative

    Huawei, Tencent, and Baidu Spearhead China’s Ambitious Three-Year Metaverse Initiative

    China’s Ministry of Industry and Information Technology (MIIT) has announced a new initiative to drive the growth of the metaverse. The initiative involves the establishment of a dynamic working group consisting of industry leaders such as Huawei, Tencent, Ant Group, and Baidu, as well as academic experts from renowned institutions. The goal is to propel China’s metaverse ambitions and position the country as a frontrunner in this emerging field.

    Three-Year Action Plan for Metaverse Growth

    MIIT has unveiled a comprehensive three-year action plan that aims to foster the development of the metaverse. The plan’s primary objective is to nurture three to five globally influential metaverse companies by 2025, with a particular focus on supporting small and medium-sized enterprises. This forward-looking strategy demonstrates China’s commitment to shaping the future of the metaverse.

    Integrating Cutting-Edge Technologies

    The action plan recognizes the critical role of cutting-edge technologies in shaping the metaverse. China aims to leverage artificial intelligence (AI), blockchain, cloud computing, and virtual reality to not only establish industry standards but also fuel innovation within the metaverse ecosystem. By integrating these technologies, China seeks to create a robust and dynamic metaverse that offers immersive experiences to its users.

    Collaboration with Industry Leaders

    The involvement of industry leaders such as Huawei, Tencent, Ant Group, and Baidu highlights the significance of collaboration in driving the growth of the metaverse. These companies bring their expertise and resources to the table, contributing to the development of the metaverse ecosystem. By working together with academic experts from renowned institutions, this collaboration aims to accelerate the advancement of the metaverse in China.

    Conclusion

    China’s Ministry of Industry and Information Technology has taken a significant step towards promoting the metaverse’s growth with its new initiative. By establishing a dynamic working group comprising industry leaders and academic experts, China aims to position itself as a frontrunner in the metaverse landscape. The three-year action plan, which emphasizes the integration of cutting-edge technologies, demonstrates China’s commitment to fostering innovation and creating a thriving metaverse ecosystem.

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  • Tencent’s Q3 2023 Financials: $21.6B Revenue, 39% Net Profit Growth

    Tencent’s Q3 2023 Financials: $21.6B Revenue, 39% Net Profit Growth

    Impressive Q3 Financial Performance by Tencent

    Tencent Holdings, the prominent Chinese tech giant, has unveiled its third-quarter financial outcomes, demonstrating robust growth and resilience within the dynamic tech sector. The company disclosed a total revenue of 154.6 billion yuan ($21.6 billion), just under the predicted 154.8 billion yuan but still a commendable 10% surge compared to the previous year.

    Noteworthy Net Profit

    A standout element in Tencent’s financial statement is its remarkable net profit, surpassing expectations. The net profit amounted to 36.18 billion yuan ($5.05 billion), showcasing a remarkable 39% year-on-year rise. This underlines Tencent’s financial strength and effective operational strategies. Furthermore, the non-IFRS net profit of 44.92 billion yuan ($6.29 billion) cements Tencent’s position as a formidable financial entity.

    Substantial Growth in Gaming Revenue

    Tencent’s prosperity is significantly fueled by its global gaming revenue, which grew by 14% to hit 13.3 billion yuan ($1.86 billion). This expansion underscores Tencent’s worldwide reach and its ability to engage with diverse gaming communities globally. Within its local market, Tencent’s gaming revenue also experienced a 5% uptick, reaching 32.7 billion yuan ($4.57 billion), evidencing its strong foothold in China.

    Rise in the Social Software Division

    Tencent’s social software division remains robust, boasting 1.336 billion monthly active user accounts on its flagship platforms, WeChat and Weixin, illustrating consistent growth. This upsurge is credited to Tencent’s initiatives to enhance user interaction, notably with a 50% surge in total playtime on the Weixin Video Account, driven by an expanding creator community. Nonetheless, challenges persist, such as a drop in monthly active users for QQ.

    Historic Advertising Revenue

    Tencent also achieved a historic pinnacle in advertising revenue, witnessing a remarkable 20% yearly growth, reaching 25.7 billion yuan ($3.60 billion). This highlights the company’s adeptness in monetizing its user base and attracting advertisers.

    Conclusion

    Armed with a robust financial report, Tencent stands poised for further expansion and success. The company’s prowess in gaming, social software, and advertising underscores its ability to navigate the ever-evolving tech realm. As a key player in the global tech domain, Tencent’s ongoing innovation and strategic investments contribute to its substantial market presence.

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