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Tag Archives: gaming industry

Fun Things

E3 Organisers ESA Unveils IICON: A New Summit for Gaming’s Future

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The Entertainment Software Association (ESA), known for organizing E3, has announced IICON, a new gaming-focused thought leadership summit set to debut in 2024. Positioned as an industry-defining event, IICON aims to bring together influential voices from gaming, business, technology, and culture to explore how interactive entertainment is shaping the world.

According to the ESA, IICON will differ from traditional gaming expos by focusing on high-level discussions, networking, and cross-industry collaboration rather than product showcases. The summit is expected to feature speakers from major game studios, tech giants, and creative industries, discussing topics such as artificial intelligence, game monetization, and the evolving role of gaming in social and economic trends.

The move comes after the ESA officially cancelled E3 for good in 2023, following years of declining interest and the rise of publisher-led showcases like Sony’s State of Play and Nintendo Direct. Many in the industry view IICON as a strategic pivot for the ESA, allowing it to remain relevant in a gaming landscape where digital-first events have become the norm.

While details on IICON’s first edition are still limited, the ESA’s ambitions are clear: to position the summit as a must-attend event for leaders looking to understand and shape the future of gaming. Whether IICON can fill the gap left by E3 or carve out a new niche remains to be seen, but it’s clear that the ESA is betting big on the growing influence of interactive entertainment beyond just gaming.

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Nintendo

Nintendo Reports 46% Drop in Operating Profit Amid Sluggish Sales

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Nintendo has reported a 46% decline in operating profit over the past nine months, with both hardware and software sales falling below expectations. The company’s latest earnings report highlights the financial impact of a maturing Switch market and weaker software sales compared to previous years.

From April to December 2023, Nintendo’s operating profit fell to ¥410.5 billion ($2.8 billion USD) from ¥560 billion in the same period last year. Net sales also saw a 7.6% decrease, reflecting slowing demand for the Switch console. This is despite strong performances from key titles like Super Mario Bros. Wonder, The Legend of Zelda: Tears of the Kingdom, and Pikmin 4.

Japanese Adverts Hit Different

A major factor behind this decline is the natural slowdown of the Nintendo Switch after nearly seven years on the market. While it remains a strong seller, demand is clearly tapering off, with Switch hardware sales down 7.8% year-over-year. The company has also revised its full-year Switch sales forecast from 15 million units to 13.5 million, further signaling the console’s late-stage lifecycle.

On the software side, game sales dropped 4%, despite Super Mario Bros. Wonder surpassing 11.96 million copies sold in under three months. While this is impressive, Nintendo’s 2023 lineup didn’t match the explosive performance of 2022’s Pokémon Scarlet & Violet or Splatoon 3.

With speculation mounting about the release date for the Switch 2, and the company maintaining a strong software pipeline and a vast player base, suggesting it will remain a dominant force in gaming.

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