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Epic Games to cut more than 1k jobs as Fortnite usage falls

reuters.com

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Re: Epic Games to cut more than 1k jobs as Fortnite usage falls

#101

Post by applfanboysbgon »

yifanl wrote: post #92
Quarrelsome wrote: post #87

> "We're spending significantly more than we're making, and we have to make major cuts to keep the company funded," he said. Sorry, HOW?!? How can a company like Epic games with one of the most successful gaming products of the last few decades be losing money with a product that is so mature? Almost every other games developer would love to be in their position on Fortnite but they've somehow turned that into a loss…

Because games is simply not a particularly profitable industry. There's a reason why Valve moved on from making games to being a digital landlord.

Games are an obscenely, absurdly profitable industry. Particularly the successful ones.

Re: Epic Games to cut more than 1k jobs as Fortnite usage falls

#102

Post by MeetingsBrowser »

yifanl wrote: post #92
Quarrelsome wrote: post #87

> "We're spending significantly more than we're making, and we have to make major cuts to keep the company funded," he said. Sorry, HOW?!? How can a company like Epic games with one of the most successful gaming products of the last few decades be losing money with a product that is so mature? Almost every other games developer would love to be in their position on Fortnite but they've somehow turned that into a loss…

Because games is simply not a particularly profitable industry. There's a reason why Valve moved on from making games to being a digital landlord.

Fortnite alone is estimated to produce more than five billion USD in annual revenue every year since 2018

Re: Epic Games to cut more than 1k jobs as Fortnite usage falls

#105

Post by yakattak »

yifanl wrote: post #92
Quarrelsome wrote: post #87

> "We're spending significantly more than we're making, and we have to make major cuts to keep the company funded," he said. Sorry, HOW?!? How can a company like Epic games with one of the most successful gaming products of the last few decades be losing money with a product that is so mature? Almost every other games developer would love to be in their position on Fortnite but they've somehow turned that into a loss…

Because games is simply not a particularly profitable industry. There's a reason why Valve moved on from making games to being a digital landlord.

Steam works on the top 2 most played games on Steam right now.

Re: Epic Games to cut more than 1k jobs as Fortnite usage falls

#106

Post by zitterbewegung »

yifanl wrote: post #92
Quarrelsome wrote: post #87

> "We're spending significantly more than we're making, and we have to make major cuts to keep the company funded," he said. Sorry, HOW?!? How can a company like Epic games with one of the most successful gaming products of the last few decades be losing money with a product that is so mature? Almost every other games developer would love to be in their position on Fortnite but they've somehow turned that into a loss…

Because games is simply not a particularly profitable industry. There's a reason why Valve moved on from making games to being a digital landlord.

Right now even Valve realizes that Steam will literally run out of steam. This is why they have been trying to become more like Nintendo and selling their own hardware (with varying success) .

Re: Epic Games to cut more than 1k jobs as Fortnite usage falls

#107

Post by michens »

yifanl wrote: post #92
Quarrelsome wrote: post #87

> "We're spending significantly more than we're making, and we have to make major cuts to keep the company funded," he said. Sorry, HOW?!? How can a company like Epic games with one of the most successful gaming products of the last few decades be losing money with a product that is so mature? Almost every other games developer would love to be in their position on Fortnite but they've somehow turned that into a loss…

Because games is simply not a particularly profitable industry. There's a reason why Valve moved on from making games to being a digital landlord.

It absolutely is a profitable industry, maybe not as profitable as todays greedy shareholders would like it to be. Just look at the CD Projekt that releases 1 game per 10 years and still makes a fortune through Netflix colabs and selling merch.

Re: Epic Games to cut more than 1k jobs as Fortnite usage falls

#108

Post by yifanl »

sph wrote: post #94
yifanl wrote: post #92

Earlier quoted context omitted.

Because games is simply not a particularly profitable industry. There's a reason why Valve moved on from making games to being a digital landlord.

Citation needed.

Look at NVidia's stock price during the period when they announced a pivot away from gaming.

Re: Epic Games to cut more than 1k jobs as Fortnite usage falls

#109

Post by Imustaskforhelp »

tombert wrote: post #85
ivraatiems wrote: post #65

I am not Tim Sweeney's biggest fan. I know he and his company have many detractors. Please read this comment with that in mind, because while I don't love them, I also think that as layoff announcements go, this is good. No beating around the bush, explicitly NOT blaming AI, taking responsibility, taking care of those impacted. If you are gonna do it, this is as good as it can get. I think the reality is that Epic go…

I broadly agree, though it does seem like Minecraft has some plot armor here. I think people are still buying and playing Minecraft a lot. I like Minecraft, I play it occasionally, but I guess it's a game that has much more staying power than average. I though my grievances with Epic are primarily because we never got Jazz Jackrabbit 3.

There are some grievances with minecraft recently

Someone is suing mojang because they break EU/Swedish law (It was a youtube video worth watching)

Minecraft bedrock is having some incredibly shitty tactics to move people towards their marketplace while community calling it bugrock

I don't think that many people who play Minecraft really appreciate Mojang being bought by Microsoft. Many are oblivious to the fact sure but overall, community's sentiment is negative towards Microsoft buying Mojang imo.

Re: Epic Games to cut more than 1k jobs as Fortnite usage falls

#110

Post by indubioprorubik »

yifanl wrote: post #92
Quarrelsome wrote: post #87

> "We're spending significantly more than we're making, and we have to make major cuts to keep the company funded," he said. Sorry, HOW?!? How can a company like Epic games with one of the most successful gaming products of the last few decades be losing money with a product that is so mature? Almost every other games developer would love to be in their position on Fortnite but they've somehow turned that into a loss…

Because games is simply not a particularly profitable industry. There's a reason why Valve moved on from making games to being a digital landlord.

Well, you goto be good nowadays, you compete against the whole worlds dreamy eyed teeangers wanting to make "their"game. A wellfunded, pig-trough-slop-mill ala hollywood can not compete against that when it comes to fun, art and experiences. They fled into gambling, but gamers actively ostracize lootboxers nowadays.
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