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2021-08-02
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Videogames entered the mainstream in the pandemic, but the industry faces a rough transition
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{"i18n":{"language":"zh_CN"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":805857279,"tweetId":"805857279","gmtCreate":1627871799691,"gmtModify":1631884457882,"author":{"id":3579868315520587,"idStr":"3579868315520587","authorId":3579868315520587,"authorIdStr":"3579868315520587","name":"andybian","avatar":"https://static.tigerbbs.com/4c74644b433cb4c92e518b5e3d2a2cf1","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":8,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":43,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"extraTitle":"","html":"<html><head></head><body><p>Like me ok?</p></body></html>","htmlText":"<html><head></head><body><p>Like me ok?</p></body></html>","text":"Like me ok?","highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/805857279","repostId":2156164154,"repostType":4,"repost":{"id":"2156164154","kind":"highlight","pubTimestamp":1627871495,"share":"https://www.laohu8.com/m/news/2156164154?lang=&edition=full","pubTime":"2021-08-02 10:31","market":"us","language":"en","title":"Videogames entered the mainstream in the pandemic, but the industry faces a rough transition","url":"https://stock-news.laohu8.com/highlight/detail?id=2156164154","media":"MarketWatch","summary":"Earnings Watch: Activision employees' revolt part of a potentially rough maturation process for a se","content":"<p>Earnings Watch: Activision employees' revolt part of a potentially rough maturation process for a sector that changed from a fun diversion to a gigantic industry during COVID-19 pandemic</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/26babe49763edc28e181f6b377b8e476\" tg-width=\"700\" tg-height=\"487\" width=\"100%\" height=\"auto\"><span>MARKETWATCH PHOTO ILLUSTRATION/ISTOCKPHOTO</span></p>\n<p>For decades, Wall Street has viewed videogames like most Americans: A fun little diversion from everyday life, but not something to take too seriously.</p>\n<p>The dynamic has been changing for years, and flipped permanently during the COVID-19 pandemic, which saw the videogame industry go far beyond just overtaking Hollywood in revenue and importance to the market -- depend on gamers for big revenue.</p>\n<p>With greater relevance comes greater scrutiny. Videogame studios have sometimes operated like the fun little diversions in product development, forming small groups willing to fail spectacularly in search of a big hit, while paying little and supervising employees even less. Those issues came to light again when the state of California recently sued Activision Blizzard, portraying a toxic workplace culture , French company Ubisoft Entertainment SA .</p>\n<p>Employees are not alone in seeking a change in practices in the videogame industry. MarketWatch readers may remember that Activision already faced a revolt from shareholders as well this year . Activision investors sent its stock to its worst week in more than a year amid the most recent controversy, down 8.6%, and shares are now down nearly 10% on the year despite strong growth.</p>\n<p>Expectations for upcoming earnings reports show that Wall Street, like employees, are expecting these companies to show greater maturity. While the boom in videogames during the pandemic has brought new investors and attention, the companies are expected to struggle to show gains from last year as they lap the beginning of the COVID-19 pandemic.</p>\n<p>While Cowen analyst Doug Creutz doesn't expect a major downturn in the third quarter, he cautioned in a recent note that investors \"may see some softening\" after a second quarter of beats, but believes fundamentals are strong \"with 2020's growth spurt due to shelter-in-place not appearing to reverse despite increasing levels of vaccination.\"</p>\n<p>Analysts also see the same problem that many gamers voice: The industry doesn't seem to be heading anywhere new and exciting, with sequels and retreads lining the release calendar, and potential next-generation technology such as augmented- and virtual-reality and streaming not looking strong enough yet to support a strong \"secular thesis,\" Creutz wrote.</p>\n<p>VR, AR and other new technologies \"are good businesses, with above-GDP growth prospects for the foreseeable future (assuming competent execution), but we believe there is no shiny overarching thesis to bring new money in,\" Creutz said.</p>\n<p>Creutz has outperform ratings on Take-<a href=\"https://laohu8.com/S/TWOA.U\">Two</a>, EA, and Zygna <a href=\"https://laohu8.com/S/ZNGA\">$(ZNGA)$</a>, but a market perform rating on Activision. All four of those companies will report earnings this week -- Take-<a href=\"https://laohu8.com/S/TWOA\">Two</a> on Monday, Activision on Tuesday, EA on Wednesday and Zynga on Thursday. Look for signs that the growth in videogames may slacken in the months ahead, and the companies themselves may be looking to change.</p>\n<p>\"Ultimately, we think commentary about trends the companies are seeing in Q3 will be the most important factor during reporting season, with the potential to reassure investors that the gains in engagement and monetization made during the pandemic are in fact quite sticky,\" Creutz wrote.</p>\n<p>The numbers to watch</p>\n<ul>\n <li><b>COVID-19 vaccine sales</b>. Moderna Inc.MRNAreports earnings on Thursday for the first time sincejoining the S&P 500 indexSPX,and all eyes will be on the company’s sales of its COVID-19 vaccine. Pfizer Inc.PFEreported roughly $8 billion in vaccine sales, putting it on pace to approach $34 billion in annual sales. Pfizer confirmed plans to seek U.S. approval for a booster shot while confirming a higher per-shot price in a recent deal with the U.S., from $19.50 to $24, according to Mizuho Securities analysts. Investors, who have pushed Moderna shares up more than 377% in the past year, will be looking for similar information from executives.</li>\n</ul>\n<ul>\n <li><b>Ride-hailing recovery.</b>Uber Technologies Inc.UBERand Lyft Inc.LYFTreport results this week, and both ride-hailing companies are trading lower than the prices commanded during their 2019 initial public offerings. The companies have been struggling to get drivers back in their cars while struggling to properly incorporate new pay practices in California. Investors will be looking for signs that some of the pandemic-related issues in ride-hailing are easing, while looking carefully at Uber’s expensive attempts to boost its other businesses.</li>\n</ul>\n<p>The call to put on your calendar</p>\n<ul>\n <li><b>Alibaba Group Holding LTD.</b>BABAAmid questions about the future of Chinese stocks listed on U.S. exchanges, the biggest of that group will report earnings Tuesday morning. Alibaba stock plunged 13.9% in July, its worst monthly performance in more than two years, even though analysts such as Raymond James’s Aaron Kessler say, “We believe most of these new regulations do not impact Alibaba.” Expect executives on the call Tuesday to address those concerns, while playing up the company’s quarterly performance, which included the 6/18 shopping event in China.</li>\n</ul>\n<p>This week in earnings</p>\n<p>Roughly 148 S&P 500 companies are expected to report this week, according to FactSet, while only one Dow Jones Industrial AverageDJIAcomponent is on the calendar, Amgen Inc. Non Tuesday. The calendar is stacked with companies not in the major indexes, though, including Alibaba and Lyft on Tuesday, Uber on Wednesday, Beyond Meat Inc. Dand fresh spin-off Vimeo Inc. on Thursday, and DraftKings Inc.DKNGon Friday.</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Videogames entered the mainstream in the pandemic, but the industry faces a rough transition</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nVideogames entered the mainstream in the pandemic, but the industry faces a rough transition\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-02 10:31 GMT+8 <a href=https://www.marketwatch.com/story/videogames-entered-the-mainstream-in-the-pandemic-but-the-industry-faces-a-rough-transition-11627854805?mod=newsviewer_click><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Earnings Watch: Activision employees' revolt part of a potentially rough maturation process for a sector that changed from a fun diversion to a gigantic industry during COVID-19 pandemic\nMARKETWATCH ...</p>\n\n<a href=\"https://www.marketwatch.com/story/videogames-entered-the-mainstream-in-the-pandemic-but-the-industry-faces-a-rough-transition-11627854805?mod=newsviewer_click\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LYFT":"Lyft, Inc.","MRNA":"Moderna, Inc.","BABA":"阿里巴巴","09988":"阿里巴巴-W","UBER":"优步","TTWO":"Take-Two Interactive Software","QNETCN":"纳斯达克中美互联网老虎指数","EA":"艺电","ATVI":"动视暴雪"},"source_url":"https://www.marketwatch.com/story/videogames-entered-the-mainstream-in-the-pandemic-but-the-industry-faces-a-rough-transition-11627854805?mod=newsviewer_click","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2156164154","content_text":"Earnings Watch: Activision employees' revolt part of a potentially rough maturation process for a sector that changed from a fun diversion to a gigantic industry during COVID-19 pandemic\nMARKETWATCH PHOTO ILLUSTRATION/ISTOCKPHOTO\nFor decades, Wall Street has viewed videogames like most Americans: A fun little diversion from everyday life, but not something to take too seriously.\nThe dynamic has been changing for years, and flipped permanently during the COVID-19 pandemic, which saw the videogame industry go far beyond just overtaking Hollywood in revenue and importance to the market -- depend on gamers for big revenue.\nWith greater relevance comes greater scrutiny. Videogame studios have sometimes operated like the fun little diversions in product development, forming small groups willing to fail spectacularly in search of a big hit, while paying little and supervising employees even less. Those issues came to light again when the state of California recently sued Activision Blizzard, portraying a toxic workplace culture , French company Ubisoft Entertainment SA .\nEmployees are not alone in seeking a change in practices in the videogame industry. MarketWatch readers may remember that Activision already faced a revolt from shareholders as well this year . Activision investors sent its stock to its worst week in more than a year amid the most recent controversy, down 8.6%, and shares are now down nearly 10% on the year despite strong growth.\nExpectations for upcoming earnings reports show that Wall Street, like employees, are expecting these companies to show greater maturity. While the boom in videogames during the pandemic has brought new investors and attention, the companies are expected to struggle to show gains from last year as they lap the beginning of the COVID-19 pandemic.\nWhile Cowen analyst Doug Creutz doesn't expect a major downturn in the third quarter, he cautioned in a recent note that investors \"may see some softening\" after a second quarter of beats, but believes fundamentals are strong \"with 2020's growth spurt due to shelter-in-place not appearing to reverse despite increasing levels of vaccination.\"\nAnalysts also see the same problem that many gamers voice: The industry doesn't seem to be heading anywhere new and exciting, with sequels and retreads lining the release calendar, and potential next-generation technology such as augmented- and virtual-reality and streaming not looking strong enough yet to support a strong \"secular thesis,\" Creutz wrote.\nVR, AR and other new technologies \"are good businesses, with above-GDP growth prospects for the foreseeable future (assuming competent execution), but we believe there is no shiny overarching thesis to bring new money in,\" Creutz said.\nCreutz has outperform ratings on Take-Two, EA, and Zygna $(ZNGA)$, but a market perform rating on Activision. All four of those companies will report earnings this week -- Take-Two on Monday, Activision on Tuesday, EA on Wednesday and Zynga on Thursday. Look for signs that the growth in videogames may slacken in the months ahead, and the companies themselves may be looking to change.\n\"Ultimately, we think commentary about trends the companies are seeing in Q3 will be the most important factor during reporting season, with the potential to reassure investors that the gains in engagement and monetization made during the pandemic are in fact quite sticky,\" Creutz wrote.\nThe numbers to watch\n\nCOVID-19 vaccine sales. Moderna Inc.MRNAreports earnings on Thursday for the first time sincejoining the S&P 500 indexSPX,and all eyes will be on the company’s sales of its COVID-19 vaccine. Pfizer Inc.PFEreported roughly $8 billion in vaccine sales, putting it on pace to approach $34 billion in annual sales. Pfizer confirmed plans to seek U.S. approval for a booster shot while confirming a higher per-shot price in a recent deal with the U.S., from $19.50 to $24, according to Mizuho Securities analysts. Investors, who have pushed Moderna shares up more than 377% in the past year, will be looking for similar information from executives.\n\n\nRide-hailing recovery.Uber Technologies Inc.UBERand Lyft Inc.LYFTreport results this week, and both ride-hailing companies are trading lower than the prices commanded during their 2019 initial public offerings. The companies have been struggling to get drivers back in their cars while struggling to properly incorporate new pay practices in California. Investors will be looking for signs that some of the pandemic-related issues in ride-hailing are easing, while looking carefully at Uber’s expensive attempts to boost its other businesses.\n\nThe call to put on your calendar\n\nAlibaba Group Holding LTD.BABAAmid questions about the future of Chinese stocks listed on U.S. exchanges, the biggest of that group will report earnings Tuesday morning. Alibaba stock plunged 13.9% in July, its worst monthly performance in more than two years, even though analysts such as Raymond James’s Aaron Kessler say, “We believe most of these new regulations do not impact Alibaba.” Expect executives on the call Tuesday to address those concerns, while playing up the company’s quarterly performance, which included the 6/18 shopping event in China.\n\nThis week in earnings\nRoughly 148 S&P 500 companies are expected to report this week, according to FactSet, while only one Dow Jones Industrial AverageDJIAcomponent is on the calendar, Amgen Inc. Non Tuesday. The calendar is stacked with companies not in the major indexes, though, including Alibaba and Lyft on Tuesday, Uber on Wednesday, Beyond Meat Inc. Dand fresh spin-off Vimeo Inc. on Thursday, and DraftKings Inc.DKNGon Friday.","news_type":1},"isVote":1,"tweetType":1,"viewCount":245,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":9,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/805857279"}
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