Meta acquires Berlin-based Lofelt to boost Virtual Reality ambitions

Key Signals in Media and Entertainment

Centre Setup and Expansion
Disney shares first look at new store coming to Orlando International Airport 
Expected to open on September 19th, the store will bring even more Disney magic to the airport, giving travelers a convenient spot to buy commemorative souvenirs, including items that celebrate the 50th anniversary of Walt Disney World. Read More>>
Merger and Acquisition
Meta aims to fuel VR Ambitions with the latest acquisition 
Facebook parent company Meta has acquired a Berlin startup to help achieve Meta’s virtual reality ambitions. The partnership will provide people with better haptic experiences and effects when using Meta’s VR devices. Read More>>
JetSynthesys’ global music junction & Warner Music India ties up with Artium Academy 
The collaboration will help these entities to identify, nurture and scale aspiring talents at the Academy, to help put them onto the national and global map while collectively building on content creation, artist management, revenue generation, digital monetization, branding, and sponsorships. Read More>>
Executive Movement
Edelman hires new chairman for the Middle East  
Edelman has appointed senior Emirati business leader Tariq Bin Hendi as its Middle East chairman to support the firm’s growth plans across the region and provide strategic counsel to regional chief executive Omar Qirem. Read More>>
Christian Streil becomes the new director of marketing at Gamigo
Streil joined Gamigo in August 2022 after holding an executive position as Deputy Managing Director at Brandmates and other leading roles at flashpoint AG, Dreamcatcher Europe, Warner Bros, and Activision. In addition, Streil has previous experience with some of gamigo’s games, like the Aura Kingdom and Grand Fantasia, as Head of Product Marketing and Communications at Aeria Games GmbH. Read More>>
Sony Interactive Entertainment Vice President Masayasu Ito steps down  
The representative director and vice president of Sony Interactive Entertainment, Masayasu Ito, has announced that he is leaving his position. He will be leaving on October 1st, with Lin Tao, current director and vice president, all set to take his place. Read More>>
Financial and Market Activity
Deloitte almost reaches USD 60 Bn in global revenue in 2022  
The company announced its global revenue for 2022, bringing in a record USD 59.3 Bn for the fiscal year ending May 31st. Over the past several years, they have steered a remarkable course to become the leading professional services organization in the world. Read More>>
Codere Online generates USD 27.4 Mn in revenue for Q2 
The company has reported total revenue of USD 27.36 Mn for Q2 2022, a 36% rise year-on-year, while net gaming revenue was 41% higher than Q2 2021 at USD 29.2 Mn. Codere, which operates in Spain, Mexico, and Colombia, generated 10.6m from its Mexican operation alone, an 84% rise from the prior-year period. Read More>>
Snapchat to cut a fifth of jobs 
The company plans to lay off 20% of its staff and shut down several new projects. About 1,200 employees will lose their jobs in the restructuring, which had been expected after a year of poor financial results. The cuts would help the company save an estimated USD 500 Mn in annual costs. Read More>>

Latest Industry Insights from Draup Braindesk

  1. Epic Games intends to deliver real-time gaming services for players, focusing on implementing and managing large-scale, transformational digital solutions. 
  2. Epic Games is keen on developing digital applications to enhance the gaming environment.
    a. Epic Games acquired Sketchable to accelerate web-based gaming applications through 3D animation technology.
    b. Epic Games introduced anti-cheat services to provide a secure experience for players while playing online games.
  3. Epic Games, Inc. is keen on creating persistent multiplayer games that are multiplatform, nonviolent, and encourage social interaction.
  1. The Consumer Software, Media & Entertainment industry focuses on AR, VR, eSports Broadcasting, Gaming Boost, AI, and Music Streaming Services.
    a. Epic Games, Inc. focuses on creating musical activities and gameplay for Fortnite, supporting current games like Rock Band 4, and making 3D, AR, and VR content more widely available and accessible, essential for an open and interconnected world.
  2. Epic Games, Inc. focuses on improving business or strategic decision-making by accessing the latest information on Epic Games. 
  3. Epic Games, Inc. focuses on developing projects with innovative features and realistic interactive experiences.
  1. Epic Games continues to adapt emerging technologies, such as VR/AR-based game streaming, and business models, such as subscription-based access to a portfolio of interactive content, to stay competitive. 
  2. Epic Games uncovered multiple vulnerabilities in Epic Games’ online infrastructure that allows malicious hackers to take over individual accounts in Fortnite.  
  3. This vulnerability enables hackers to access a user’s account and personal information and purchase virtual in-game currency using payment card details.
  1. New rapid, significant technological changes, frequent new product and service introductions and enhancements, and evolving industry standards adopted by a few competitors within the Consumer Software, Media & Entertainment industry pretend to be a menace to Epic Games.
    a. Riot Games has partnered with Amazon Web Services (AWS) to rethink how Riot’s esports content is generated and shared in the cloud; this may impact Epic Games, Inc.’s Cloud technology.
    b. Ubisoft launched The Division Battle Royale Game to extraordinarily high sales figures, and it immediately became the company’s best-selling game which would influence Epic Games, Inc.’s Gaming technology.

Startup Spotlight

Company – Shine Interview
Total Funding – USD 2.22 Mn
About: Shine Interview is a fully customizable, highly secure, enterprise-level video-based recruitment platform that facilitates a remote-first end-to-end recruitment process for enterprises, SMEs, and recruitment firms. They aim to make the recruitment process easier while improving the candidate and client journey and the platform has been proven to cut the time and cost of hiring by up to 70%. Read More>>

Latest Reports Published in Draup

DIRECTV, LLC. Account Intelligence Report
DIRECTV aims to enhance Stream Voice Remote and an AR-based TV app to provide customers with more options and technological advancements and develop the networks, subscription television services, and satellite radio services. Read More>>
Rakuten Mobile Inc. Account Intelligence Report
Rakuten Mobile focuses on expanding 5G networks that help to provide fast and high-capacity connectivity to customers and new opportunities to automate processes across enterprises. Read More>>
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