A number of high-profile console and PC games have also suffered from delays this year, setting up a return to growth in 2023. For one, consumers are spending less on gaming due to inflation increasing the price of everyday goods. mobile game revenue will surpass 2021 levels, worsening headwinds have firmly shifted the conversation away from the question of by how much.”Ī confluence of factors has created a particularly difficult time for game developers, and not just mobile ones. “While there is still a decent chance this year’s U.S. continues to decline as consumers contend with both economic uncertainties and a new post-pandemic normal,” said Sensor Tower gaming insights lead Dennis Yeh last week. But this year's decline marks a surprising downturn for mobile. Mobile gaming has typically offset the losses in console and PC gaming and has been the largest and fastest-growing sector in the industry for years. “This investment will accelerate our work to build the metaverse and create spaces where players can have fun with friends, brands can build creative and immersive experiences and creators can build a community and thrive.” We have found this in our partnership with Sony and KIRKBI,” Epic CEO Tim Sweeney said in a statement. “As we reimagine the future of entertainment and play we need partners who share our vision. Partnering with the creator of PlayStation and the company behind Lego will certainly better enable Epic to compete with its major tech competitors, which now include Meta and Microsoft in addition to Apple and Google. But it's clear Epic has grand ambitions around the metaverse and the opportunity game platforms have to shape what it looks like going forward. Sony recently acquired Bungie, a video developer company, and also the developers of the popular game Destiny.It's unclear why Epic is still seeking funding rounds, given how lucrative Fortnite has been and how much it stands to make with its recently released Unreal Engine 5, which is already become the game engine of choice for major projects under development such as the new Mass Effect from BioWare and CD Projekt Red's upcoming Witcher game.

It could prove to be a huge push into the world of metaverse by looking at the stand-alone efforts these companies have made. This investment will be aimed at creating a platform where brands and creators can create immersive experiences and build a community. “This investment will accelerate our engagement in the world of digital play, and we are pleased to be investing in Epic Games to support their continued growth journey, with a long-term focus toward the future metaverse.” -Soren Thorup Sorensen, CEO of KIRKBI

Tim Sweeney, the CEO of Epic Games believes that in order to reimagine the future of entertainment, the company needs partners with a shared vision and it has found this in Sony and KIRKBI. The three companies want to channel this investment in a way that it supports, accelerates and increases their engagement in the digital world and metaverse. Soren Thorup Sorensen, CEO of KIRKBI, also said, “This investment will accelerate our engagement in the world of digital play, and we are pleased to be investing in Epic Games to support their continued growth journey, with a long-term focus toward the future metaverse.” Kenichiro Yoshida, Chairman, President and CEO of Sony Group said in a statement, “We are also confident that Epic’s expertise, including their powerful game engine, combined with Sony’s technologies, will accelerate our various efforts such as the development of new digital fan experiences in sports and our virtual production initiatives.”Įpic Games is renowned for building creative and playful experiences that empower creators. Sony seems to be thrilled with the investment made in Epic Games. With this funding, the companies want to explore the connection between the physical world and the digital world by creating new social entertainment. Announcing a $2 billion funding round with Sony and KIRKBI to build the future of digital entertainment.

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