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Disney, Apple and more voice concerns over WeChat ban to White House
After President Donald Trump signed an executive order that would ban all US transactions with messaging app WeChat, some of the biggest names in American industry have begun to voice concerns about the shift directly to White House officials. According to a report published by the Wall Street Journal, representatives from “more than a dozen” major US companies, from Apple to Walmart to Disney to UPS, participated in a call this past Tuesday to highlight how they might be affected by action against taken against WeChat.
America’s cash-free future is just around the corner
Shake Shack's next burger joint at Astor Place in NYC doesn't want your money -- at least not the physical variety. In an effort to reduce the "friction time" between paying for your meal and eating it, the company plans to replace human cashiers for automated kiosks which won't accept actual bills and coins, only cards. This move is part of a global trend away from cash-based economies and towards Star Wars-style credits. But could such a monetary revolution actually benefit all Americans? Don't bet on it.
Call of Duty Online public beta launches in China
Call of Duty Online, the China-only freemium version of the mega franchise, is now in open beta for hundred of millions of Chinese. Announced several years ago, publisher Activision has taken a very disciplined approach in developing the game for the region. "We've worked closely with our partner at Tencent, and we've challenged one of our most trusted and talented development teams of Raven Software to create a true Call of Duty experience tailored for the Chinese market," said Activisition Publishing CEO Eric Hirshberg. "Throughout testing, the community feedback has been tremendous. We couldn't be more excited and we look forward to winning the hearts and minds of a new community in China." Not to mention: all that cash! Almost every major publisher has made a deal with Tencent to get a piece of China's emerging market. Thanks to China's regulations governing international investment, the company has turned into the go-to gatekeeper to the region. That hasn't stopped Tencent from making outside investments of its own, including a minority stake in Epic Games and ownership of League of Legends developer Riot. Oh yeah, Tencent is also a massive "passive investor" in Activision.
Epic job listing outs unannounced 'competitive online action game'
Epic Games is currently working on two projects: the tower defense action game, Fortnite, and another game yet to be unveiled. A job listing calling for a senior systems designer mentions "an unannounced competitive online action game that includes player progression, heavy itemization, and a dynamic economy." The listing, which does not specify platforms, calls for a senior systems designer on both Fortnite and the unannounced game. Last year, Chinese company Tencent Holdings invested $330 million into Epic Games, acquiring a minority stake in the Cary, North Carolina-based studio. Epic Games' most recent game was the Xbox 360 exclusive, Gears of War: Judgment, made by its People Can Fly division.
Tencent sunk $330 million into Epic Games, owns nearly half of studio
Back in June, Chinese company Tencent Holdings purchased a minority stake in Epic Games, but it turns out that stake is substantial. Tencent snatched up 48.4% of Epic Games shares last year – that comes to around $330 million invested – and even has the right to nominate individuals to Epic Games' board of directors."Since the Group has the right to nominate directors to the board of Epic Games, Epic Games is accounted for as an associate of the Group." This is all laid out in Tencent Holdings' 2012 financial report, available as a pdf document through the source link below. Epic Games was the second US gaming investment from the Chinese outfit following its acquisition of Riot Games in 2011.Following Tencent's purchase of Epic shares, Epic Games announced it had founded a new studio in Baltimore, saving some Big Huge Games folks from the collapse of 38 Studios to work on Infinity Blade: Dungeons – only for Epic to eventually shutter the studio in February of this year.
Take-Two, Tencent collaboration 'NBA 2K Online' launches Oct. 24 in China
NBA 2K Online, the free-to-play NBA simulation created for China by 2K in conjunction with Tencent Games, will launch on October 24. The game went into beta this past June and is the first major release in China for Take-Two, which announced plans for this initiative back in 2009.The release date of an online sportsball game in China isn't the interesting part here, so much as the context. Tencent Holdings Limited has become quite the player over the past three years since Take-Two's plans were first announced. There's Tencent's relationship with Activision over Call of Duty Online, its acquisition of Riot Games and, most interestingly, its minority interest in Unreal Engine's lord and master Epic Games.
Tencent reveals how it gets users to pay for its service
We've all seen those "OMG! Don't make us pay for Facebook" fake petitions, but App.net and The Social Network raise questions about how our social services raise their moolah. Tencent's Sophia Ong has revealed that it's in the unique position of having users happy to pay for services that we take for granted. While signups for QZone (Facebook equivalent) is free, users have to use QBs, the site's virtual currency, to buy and clothe their avatars. While 1 QB = 1 yuan ($0.16), there are 30 million paying customers on the site -- meaning that the company can count on around $50 million in monthly payments. It's not stopping there either, sensing a slowdown in the local economy, the company has an eye on opening up its eCommerce platform to ensure it can continue to rake in the cash.
Report: Activision stock may rise 50 percent with Pandaria, CoD Online
Activision Blizzard may see its share price increase as much as 50 percent as it prepares to launch the Mists of Pandaria expansion for World of Warcraft and Call of Duty Online in China, financial newsweekly Barron's reports. Activision Blizzard is currently trading at $11.25, after reporting Q2 earnings above expectations but below the previous year, bringing in $1.08 billion.Investors expect shares could reach a high of $17 due to Mists of Pandaria's launch in September and Activision's partnership with Chinese Internet provider Tencent Holdings to launch the free-to-play game Call of Duty Online, potentially in "mid-2013," Barron's says. The Chinese gaming market generated $7 billion and included 160 million gamers in 2011, and is expected to grow by 20 percent this year to cash in more than $9 million in 2014.Activision Blizzard's shares have fallen 10 percent this year, while the broad market has gained 11 percent. Parent company Vivendi was looking to sell its 61 percent stake in Activision Blizzard earlier this year, but it appears those efforts have shifted focus.
Epic's Mike Capps on opening the door to Tencent and its 'unparalleled expertise' in China
Epic Games announced yesterday it sold a minority interest in the company to China's Tencent Holdings. It was the first time in 21 years the Unreal Engine creator and Gears of War and Infinity Blade developer accepted outside investment."We've always taken pride in being an independent developer of fun games and cutting-edge technology," Epic Games president Mike Capps said in prepared statements about why the company took a major investment deal after such a long time. "We want to assure our players and licensees that this transaction only brings more to the table in terms of what we can offer them.""Epic has worked with Tencent for years through our Unreal Engine licensing relationship," Capps added. "They have fantastic inroads into attractive markets and platforms, and Epic has been carefully weighing its options for the next generation of games for quite some time. We can learn a lot from Tencent, and strategically aligning with them was an easy decision."Capps explained that Epic will maintain all intellectual property rights and maintain the Unreal Engine licensing business. He wouldn't comment if this is just the prelude to a full buyout. Capps makes no secret of Tencent being a long-term partner, but notes Epic enjoys its independence.
Epic Games sells minority interest to Tencent
Epic Games, creator of the ubiquitous Unreal Engine and major franchises like Gears of War and Infinity Blade, announced this morning a minority stake sale to China's Tencent Holdings.The terms of the deal were not disclosed, but you can be assured it was for a ton of cash (technically speaking). Epic will continue to "operate independently and seek to further expand its game franchises across multiple platforms."Tencent has slowly made strategic purchases in the States, its highest profile acquisition being Riot Games last year, developers of cash-raining League of Legends.The relationship between Epic and a Chinese company will also make it easier for the former to grow in China, a region in which it has been very interested in expanding – with some politically laughable results.
Sonos to bring subscription-based QQ Music service to its hardware in China
Wireless HiFi maker, Sonos, has just signed a deal with Tencent Holdings to provide the QQ Music service direct via its hardware in China. The holdings firm owns the QQ suite of internet services that boasts a massive user base in the country. QQ Music already exists in an ad-supported form, but the new partnership will break it out directly into audio equipment, and hopefully encourage users over to the premium paid-for version. The consumer preview is available on all Sonos systems if China now via the Sonos controller. A personalized version will follow, later this year.
