In response to a decline in spending, companies are canceling games and implementing cost-cutting measures.
- Videogame publishers are canceling games and cutting costs amid a slowdown in spending by players, reversing some of the growth made during the pandemic.
- The decline in consumer spending on mobile games, the biggest and fastest-growing segment of the industry, was significant, at 12% last quarter compared with a year earlier.
- Established blockbusters like Call of Duty and FIFA are receiving more funding than new properties and niche titles, and tech-industry heavyweights that made bets in video gaming are pulling back on the sector.
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