“Game On” is The Fly’s weekly recap of the stories powering up or beating down video game stocks.
NEW RELEASES: This week’s major release is Square Enix’s (SQNXF) action role-playing game “Final Fantasy XVI,” which launches exclusively for PlayStation 5 (SONY) on June 22. Also out this week is Activision’s (ATVI) multiplayer party game “Crash Team Rumble,” which launches June 20 for PS4, PS5, Xbox One (MSFT), and Xbox Series X/S.
SONY CLOUD STREAMING: In a blog post last week, Sony said that it is currently testing cloud streaming for supported PlayStation 5 games, including PS5 titles from the PlayStation Plus Game Catalog and Game Trials, as well as supported digital PS5 titles that players own. “When this feature launches, cloud game streaming for supported PS5 titles will be available for use directly on your PS5 console,” said Nick Maguire, VP of Global Services, Global Sales, and Business Operations at Sony Interactive Entertainment. “That means as a Premium member, it’ll be easier to jump into your favorite games without downloading them first onto your PS5 console. Our goal is to add this as an additional benefit to PlayStation Plus Premium as part of our ongoing efforts to enhance the value of PlayStation Plus. We think it’s important for Premium members to be able to enjoy as many games as possible via cloud streaming. As more games continue to launch on the PS5 console, we look forward to adding cloud streaming capability for PS5 titles in addition to the PS3, PS4 and classic titles that are already available for Premium members to stream. We’re in the early stages right now, and we can’t wait to share more details when we’re ready, including a launch time frame. Stay tuned!”
CIRCANA ON VR SALES: Circana analyst Ben Arnold Reuters‘ David Shepardson. The judge set a two-day evidentiary hearing on the FTC request for a preliminary injunction for June 22-23 in San Francisco, Shepardson added, noting that Microsoft could have closed on the $69B transaction as early as last Friday.
OTHER STORIES TO WATCH:
- Microsoft is no longer developing new games for the Xbox One, Axios reports (read more)
- Canaccord analyst Jason Tilchen initiated coverage on Roblox (RBLX) with a Buy rating and $48 price target (read more)
- Comcast’s (CMCSA) Illumination denied rumors that the studio is working on an animated “Legend of Zelda” (NTDOY) film, TheWrap reports (read more)
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