Category Archives: Variety (Print)

Netflix cuts 3Q subscriber estimates

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Netflix has lowered its subscriber estimates by 1 million people for the third quarter, the first sign that the consumer backlash over its drastic price changes is negatively impacting the film streaming/rental service.

In a note to investors, the company lowered the expected number of DVD-only customers from 3 million to 2.2 million, while ratcheting down the number of projected streaming customers from 10 million to 9.8 million. The number of customers using both services is expected to remain unchanged.

Read more at Daily Variety

Feds move to block AT&T, T-Mobile merger

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AT&T’s takeover of T-Mobile has hit a major roadblock as the U.S. government plans to block the merger of the two mobile giants. The Department of Justice today filed suit in U.S. District Court in Washington, saying the deal violates U.S. antitrust law.

“We are seeking to block this deal in order to maintain a vibrant and competitive market place,” said James Cole, Deputy Attorney General at the U.S. Department of Justice in a press conference.

Read more at Daily Variety

Music biz runs for cloud cover

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Just eight years after the music industry experienced one of the most radical shifts in its history, it’s finding itself on the verge of yet another revolution.

The launch of iTunes in April 2003 certainly didn’t introduce digital downloads to consumers (Napster and countless other illegal download sites were thriving at the time), but it legitimized the distribution method and made it profitable for artists and labels. Now Apple — and a host of other companies — are hoping customers are willing to walk away entirely from physically owning the music in their collection in favor of the cloud.

Read more at Daily Variety

Samsung, Panasonic, Sony team for 3D

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A collective of the top television manufacturers have joined forces to make 3D TV more attractive to consumers.

Panasonic, Samsung and Sony have announced plans to collaborate with XpanD 3D to develop a new technology standard for active 3D glasses. The partnership, called the Full HD 3D Glasses Initiative, aims to eliminate the specialized glasses required for each manufacturer’s set.

Read more at Variety.com

Nintendo slashes 3DS price

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Just four months after the high profile launch of its 3DS handheld gaming system, Nintendo is acknowledging that it has a problem on its hands.

The video game giant announced plans Thursday to slash the price for the 3DS by one-third — from $250 to $170 — effective August 12. The move came as the company reported fiscal first quarter revenue that was more than 50 percent below the previous year and a $328 million dollar quarterly loss. It also cut its projected earnings by 82 percent.

Read more at Daily Variety

Zynga’s IPO ka-ching

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The long-awaited initial public offering for Zynga is reality — but as some investors celebrate, others wonder whether the numbers being discussed in conjunction with the company are a sign that we’re in the middle of another Internet stock bubble.

Zynga, the maker of massively popular Facebook games like FarmVille and Mafia Wars, filed for an IPO Friday and said it plans to raise $1 billion — – a figure that is expected to go higher by the time its shares begin trading.

Read more at Daily Variety

Zynga files for IPO

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The biggest company in social network gaming is poised to become the biggest publicly-traded company in the video game industry.

Zynga, the maker of massively popular Facebook games like FarmVille and Mafia Wars, has filed the paperwork for an Initial Public Offering, where it says it hopes to raise $1 billion. That’s lower than some investors were expecting, but is likely to increase as bankers determine the offering price and how many shares should be sold.

Read more at Daily Variety

Biz relieved over Court’s vidgame ruling

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The Supreme Court’s ruling on Monday that violent videogames are a protected form of free speech comes as a relief not just to the gaming industry but to the rest of Hollywood.

The high court, in a 7-2 decision, struck down a California law that attempted to restrict the sale of violent games to minors. The industry had been closely watching the ruling because it feared that if the law were upheld, it would carve out an exemption to the First Amendment that could eventually extend to violence in movies and TV shows.

Read more at Daily Variety

High court strikes down Calif. vidgame law

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Violent video games are protected forms of free speech, the U.S. Supreme Court ruled today.

In a 7-2 ruling, the Court struck down a controversial California law that attempted to restrict the sale of violent games to minors.

“Video games qualify for First Amendment protection,” the Court said in its ruling, written by Justice Scalia. “Like protected books, plays, and movies, they communicate ideas through familiar literary devices and features distinctive to the medium. And ‘the basic principles of freedom of speech . . . do not vary’ with a new and different communication medium.”

Read more at Variety.com

3D gaming gets its closeup

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Between the Nintendo 3DS, Nvidia’s efforts to push 3D on the PC and Sony’s recently announced PlayStation 3-branded 3D display, stereoscopic 3D video- games are finally stepping into the spotlight.

But even as more and more games utilize the technology, there’s a debate among game- makers on how much of a draw it will be for consumers.

Read more at Daily Variety