PODCAST · business
Virtual Economy
by Michael Futter and Amanda Farough
The business of video games can be complicated. In each episode of Virtual Economy, hosts and analysts Amanda Farough and Michael Futter break down the biggest business news in the video game industry.
Episodes
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Episode 212: Ex-Box
We're breaking up with Xbox. It's not us, it's you. More layoffs, closed (and practically closed) studios, shuffling of IP, and fawning executives that are trying to convince you that everything's just ducky, when it's really f… you get the point. You can support Virtual Economy's growth via our...
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Episode 211: EA Sportswashing (News Show)
We've been head-down doing developer things (more on that very soon)! That makes this quite the episode. Earnings! Circana! EA is now privately held! Microsoft is biffing it! Roblox is screwed! And much, much, much more! You can support Virtual Economy's growth via our Ko-Fi and also purchase...
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Episode 210: An Industry in Peril with Mat Piscatella
Joining us on this episode is friend of the show Mat Piscatella, Executive Director and Video Game Industry Adviser at Circana. Our discussion includes the state of the industry, the component crisis and hardware costs, first party's changing strategy to focus on the biggest spenders, and just…
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Episode 209: No One is Coming to Save Us (News Show)
Since 2022, the industry has slid into chaos and disarray, with developers and players abandoned by platform holders and publishers. Now, we've reached a tipping point, and only we can rescue ourselves. We'll discuss Microsoft's self-inflicted destruction, Sony's anti-preservation attacks, and…
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Episode 208: GameStop is Neither Credible nor Attractive (News Show)
Between GameStop and Ryan Cohen's clownery and new Xbox leadership's 100-day death march, it's another grim moment for the game industry. Former OpenAI head (now Xbox CEO) Asha Sharma laments the hardware crisis caused by… AI. We're all trying to find the guy that did this, after all. Look……
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Episode 207: GameStop is Too Fail to Big (News Show)
Ryan Cohen was only offered store credit as trade-in value for his time as GameStop CEO, so he's trying to buy eBay in one of the most foolish business moves we've ever seen. Also: Circana Report on U.S. Video Game Spending for March 2026, Microsoft, EA, Remedy, Earnings, the latest labor...
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Episode 206: Epic Fail (News Show)
With Epic laying off 1,000 people, the game industry job market has gone from "extremely chilly" to "nearing absolute zero." Also: a recap of GDC's challenged year, Circana Report on U.S spending for February 2026, some interesting new investments, NetEase divestments, and a heckin' FAFO. You can...
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Episode 205: Amy Hood Draws Blood - Spencer and Bond Out (Earnings Show)
This was supposed to be a show just about earnings. All we wanted to do was cover the earnings… but Sony closed Bluepoint, Nintendo is releasing $20 Pokemon ROMs, and Microsoft appears to have ousted Phil Spencer and Sarah Bond. Every first party is stepping on rakes. Get your coffee… this is…
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Episode 204: Ubisoft's Hail Mary (News Show)
Ubisoft employees are prepared to strike over a recent return-to-office mandate and extreme cost-cutting. Also: Circana Report on U.S. Video Game Spending for December 2025 and full year 2025, That's No Moon at odds with former founder, Amazon Games suffers another blow, and Ashes of Creation dev...
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Episode 203: The Last Gasp of Virtual Reality (Season 7 Premiere)
2026 is putting us through our paces right out of the gate. We're hanging onto hope, but layoffs, consolidation, and private equity loom over us like a shadow. On this episode: an update on Paramount's desperate fight for Warner Bros. Discovery, Saudi Arabia moves video game holdings, and VR's...
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Episode 202: The Last Gasp of a Brutal Year (Season Finale)
2025 has continued the trend of layoffs, consolidation, and privatization. The gulf between AAA and everyone else is widening, as the AI bubble strains before an inevitable burst. With November's Circana report coming in bleak after months of stronger performance, 2026 will continue to challenge…
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Episode 201: No Matter Who Buys Warner Bros., We Lose (News Show)
Warner Bros. is selling itself like a $1.50 hot dog at Costco, and everyone wants a bite. Before the weekend, Netflix looked like it had a clear path to regulatory review. But now, New Paramount is taking a swing with a hostile takeover. Things are about to get ugly. Regardless of who wins…
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Episode 200: Amazon Primed for Gaming Exit (News Show) - Part Two
We're joined by two special guests on this milestone episode. Please welcome Andy Pan (the only person who has previously co-hosted a show with us) and Greg Alderton, Virtual Economy's lead moderator! With 14,000 people laid off, studios shuttered, and projects abandoned, Amazon seems ready to…
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Episode 200: Amazon Primed for Gaming Exit (News Show) - Part One
We're joined by two special guests on this milestone episode. Please welcome Andy Pan (the only person who has previously co-hosted a show with us) and Greg Alderton, Virtual Economy's lead moderator! With 14,000 people laid off, studios shuttered, and projects abandoned, Amazon seems ready to…
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Episode 199: Game Pass Abdicates 'Best Value in Gaming' Throne (News Show)
With prices skyrocketing this generation, Microsoft has increased costs on Game Pass' top tier while cutting offerings on others. We discuss the broader implications as price-sensitive players get boxed out. Also: Unity security alert sends devs scrambling, Tencent fires back at Sony's Horizon:...
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Bonus Episode 12: EA Sells Its Soul (News Show)
EA is going private in a $55 Billion deal. Saudi Arabia's Public Investment Fund, Jared Kushner's Affinity Partners, and Silver Lake will own the company after the deal closes in Q1 FY27. We discuss what that means, explained how leveraged buyouts work, and share our concerns for the future of…
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Bonus Episode 11: The PAX West 2025 Roundup
PAX West 2025 felt like home for the first time since the COVID-19 lockdown ended. We recap our favorite games and tech from the show. You can support Virtual Economy's growth via our Ko-Fi and also purchase Virtual Economy merchandise!
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Episode 198: Bungie Jump (News Show)
Following the flagging performance of Destiny 2 and Marathon woes, Sony has jettisoned embattled Bungie studio head Pete Parsons. They've also announced significant hikes on PS5 prices. Also: Another Subnautica 2 lawsuit, a BioShock shakeup, and Frost Giant studio head Tim Morten leads with...
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Episode 197: Krafton Tries to Sink Subnautica Suit (News Show)
Krafton's response to the Unknown Worlds lawsuit hinges on one key element: the interpretation of the Equity Purchase Agreement. Also, lots of earnings, Roblox is under fire from the state of Louisiana, an update on the growing censorship of Steam and Itch.io, and more. You can support Virtual...
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Episode 196: We Have Horizon: Zero Dawn at Home (News Show)
INT. POSH HOTEL SUITE - DAY TENCENT: Hey, Sony. Can we make a Horizon game? SONY: Nah. We good. TENCENT: Oh okay. Bummer. SONY: WHAT THE F—- So yeah… Sony is suing Tencent for what it calls a "slavish clone" of Horizon: Zero Dawn. Bold move! Also: EA, Microsoft, Capcom earnings, an update on the...
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Episode 195: The Quarter Billion Dollar Subnautica Showdown (News Show)
In 2021, Krafton splashed huge cash on Subnautica dev Unknown Worlds. Now, the publisher may find out that buyer's remorse isn't a reason for violating a contract. Also… Ubisoft Earnings Circana Reports for May and June 2025 Sony takes a bite out of Bandai Namco On this episode, we discussed a...
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Episode 194: Xbox Gutted (News Show)
Following strong financial performance in its gaming division, Microsoft is taking a machete to its work force and its future as a serious competitor. Is this the brand's Red Ring of Death? Also, Bungie runs from Marathon, Warner Bros. goes all-in on safe IP, and the labor report hurts even more...
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Episode 193: Switch 2's Best Feature is Potential (News Show)
With our Switch 2 in-hand, we're ready to give you our early feelings about the console in this challenging market. Also: SO many earnings. Like… SO many. Nintendo, Sony, EA, Take-Two, Remedy, Embracer Group, Paradox, Square Enix, Capcom, and Sega. You can support Virtual Economy's growth via our...
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Episode 192: PAX East Takes A MAGFest Turn (News Show)
PAX East isn't the show it was 10 years ago. With most AAA developers staying away, indies take center stage. Also: Circana report for April 2025, GameStop sells off its Canadian holdings, Curve Games has a new owner, the SAG-AFTRA voice performer strike enters the endgame, and much more. We've...
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Episode 191: Who Can Even Afford to Be a Gamer Anymore? (News Show)
Microsoft is jacking prices on hardware, software, and peripherals. With costs going up while interest in Microsoft's offerings declining, we have to wonder if Microsoft is applying pressure to push Game Pass. Also: Circana report on U.S. Video Game Spending for March 2025, Apple scores an…
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Episode 190: Nintendo's Switch 2 Pricing Conundrum (News Show)
The original Nintendo Switch launched at $300 USD. The Switch 2 price was absent from the huge Nintendo Direct, only to be quietly revealed at $450. As for game prices, Mario Kart World is a whopping $80. Costs are on the rise, and the latest tariffs have spiked the price of accessories. So……
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Episode 189: WB's David Zaslav is the Real Nemesis System (News Show)
Warner Bros. continues to chip away at its infrastructure and consumer confidence with the closure of three more studios. Also: Circana reports for Jan and Feb, a recap of GDC and developers' feelings about the industry, a curious period for investments, a new union looks to cover the entire...
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Episode 188: We're Getting Tired of Clowns in the C-Suite (News Show)
Despite mounting evidence that Games as a Service are struggling, executives continue to go back to that empty well. Also: A ton of earnings reports (Nintendo, EA, Paradox, Square Enix, Sega, Ubisoft, Remedy, Embracer Group, and Sony), the labor picture worsens, and Niantic may be exiting the...
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Episode 187: When A Publisher Won't Use the Word 'Layoff' (News Show)
There are few things worse than yet another company laying people off… and EA has committed the sin of obfuscating job losses. Also: Earnings season is underway, the Circana report for December 2024 and the full year, a recap of the GDC State of the Industry report, and more. You can support...
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Episode 186: Unalive Service (Season Premiere - News Show)
The year has begun, and the industry is already off to an intense start. On this episode, we discuss the business decisions behind the Switch 2's departure from "Weird Nintendo," Ubisoft's precarious position, the U.S. ruffling Tencent's feathers, and the Consumer Financial Protection Bureau's…
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Episode 185: Survive Through '25 (News Show)
34,000. That's how many jobs have been lost in our industry since the start of 2022. We recap the year, discuss PAX Unplugged and The Game Awards, and look ahead at what to expect in 2025. We did a deep dive on tabletop card game trends and the looming tariffs for all of our fellow tabletop…
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Episode 184: Call of Duty Saves the Month… On PlayStation (News Show)
We now know that Microsoft wasn't kidding when they said they had no intention of pulling Call of Duty from PlayStation. Whether the Game Pass Gambit pays off or not, Black Ops 6 is selling great on Sony's console. Also: the rest of the Circana report on U.S. Video Game Spending for October, a…
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Episode 183: The Cold Embrace(r) (News Show)
Another bad quarter for Embracer could have ripple effects throughout the industry. Also: Sony, Nintendo, Sega, and Square Enix earnings, legal trouble for NetEase executives, a strike at Activision Blizzard, and more. You can support Virtual Economy's growth via our Ko-Fi and also purchase…
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Episode 182: We Carry On… Together (News Show)
It's earnings season, so we're digging into the numbers to help us understand if "Survive until '25" is still realistic or if things are going to remain difficult through next year. Also: Circana report on U.S. video game spending for September 2024, a few bright investment items, and a labor...
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Episode 181: Roblox Remains Icky as Heck (News Show)
A scathing report from Hindenburg Research surfaces shocking realities about Roblox's investor relations and massive failures to protect youth on the platform. Also: Circana Report U.S. video game spending for August 2024, Google is now required to make external app stores more viable, and more....
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Episode 180: Ubisoft in Freefall (News Show)
Ubisoft has been under fire since a failed hostile takeover attempt in 2018. Since then, a toxic culture of misogyny and harassment was revealed in 2020 leading to an exodus of talent and a string of underperforming releases. Now, a critical game delay, a board review of operations, and a looming...
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Episode 179: The $700 PS5 Pro Is An Act of Desperation (News Show)
The PlayStation 5 Pro defies all logic, reaching deeper into diehards' pockets in the worst economy we've seen in 15 years. We break down the challenging economics (while also admiring Mark Cerny's ASMR-style presentation). Also: GameStop earnings tumble, more Microsoft layoffs, Unity reverses a...
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Episode 178: EA Sports College Football Saves the Month (News Show)
We had a hunch that EA Sports College Football was going to be big, and it seems to have single-handedly swung the U.S. video game spending report in a positive direction. Also: Lots of earnings, PS5 price hikes, some acquisitions, and more. You can support Virtual Economy's growth via our Ko-Fi...
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Episode 177: The Last Good Reason for GameStop to Exist is Gone (News Show)
Amidst new allegations of insider training, GameStop CEO Ryan Cohen has shuttered Game Informer magazine after 33 years. Also: Earnings time is here, more Bungie layoffs, Netherrealm layoffs, Circana report for June 2024, voice actors on strike, IGN parent Ziff Davis does Humble Games publishing...
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Episode 176: Microsoft Holds a Knife to the Golden Game Pass Goose's Neck (News Show)
Microsoft is making sweeping changes to Game Pass, seemingly to avoid bleeding out on Call of Duty sales. Also: Circana report for May 2024, SAG-AFTRA updates, more Embracer and Paradox cuts, out of control EA executive pay in the face of layoffs, and more. This episode is sponsored by Magic…
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Bonus Episode 10: A Conversation About Unionization with IATSE
With the video game industry in the midst of the worst labor crisis we've ever seen, collective action is crucial. We're joined by Chrissy Fellmeth, Kelly Larkin, and Andrew Buczacki to discuss how the International Alliance of Theatrical Stage Employees is supporting labor organization and...
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Episode 175: Summer Game Fest Gets Closer to E3 Vibes (News Show)
E3 might be dead, but its spirit is clinging to life (even if just by sheer will of the industry and the JW Marriott lobby). We discuss the trends and big learnings from the showcases and a quick visit to SGF Play Days. Also: GameStop earnings, Circana report for April 2024, the latest labor...
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Episode 174: The World's Oldest Console War is Over (News Show)
Atari has finally driven its mortal enemy, Intellivision, and heard the lamentations of its pixels. Also: So. Many. Earnings. We're covering Sony, Square Enix, Ubisoft, Take-Two, and Embracer. Also, a number of new studios were founded as the labor winter trudges on. You can support Virtual...
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Episode 173: Sony Didn't Manage Democracy, Xbox Self-Immolates (News Show)
Sony dug a giant hole and dumped all the Helldivers 2 goodwill into the pit (while cutting off 177 countries). Microsoft lit itself on fire and burned player sentiment to the ground. Good times. Also: Take-Two layoffs target a BAFTA winner, Unity has a new CEO with a massive compensation package,...
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Episode 172: Embracer Group Crumbles… And Friends (News Show)
The Embracer Group name is going away, splitting its mega-conglomerate into three in an attempt to move on from its destructive legacy. But with Lars Wingefors sticking around to lead the holding company, our expectations are tempered. Also: Meta loses billions more as it tries to become the...
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Episode 171: Why Layoffs? Because Everyone Else is Doing It! (News Show)
Two months after Take-Two said it wasn't planning layoffs it has… well… by now you know. Also, we're trying something new and fun with this episode. Join us for a lively discussion about keeping the industry healthy and a deep dive into what the heck differentiates III from AA! You can support...
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Episode 170: Embracer Group Fire Sale Burns Labor (News Show)
We've come full circle. Embracer Group just took a massive loss to get some much-needed cash in hopes of filling a seemingly bottomless hole of debt. Saber is gone. Zen is gone. 4A is gone. Gearbox is gone. Also, SAG-AFTRA may strike against video game companies, some new studios are popping up,...
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Episode 169: The AAA Video Game Industry is in Freefall (News Show)
Triple-A game development as we know it is unsustainable. It doesn't matter if a game succeeds or fails, the corporate machine is grinding developers up and spitting them out by the thousands. Things need to change. You can support Virtual Economy's growth via our Ko-Fi and also purchase Virtual...
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Episode 168: Switch 2 Switcharoo Could Thwart 2024 Recovery Hopes (News Show)
The console market is going through major changes as hardware prices stay high and first party needs to pivot audience strategy. Nintendo may be struggling to find a break-even for its Switch successor, prompting a later release than we anticipated. Also: Embracer Group woes continue, Hasbro…
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Episode 167: Did Microsoft Trigger the FTC's Trap Card? (News Show)
Microsoft's layoffs have sent the FTC into a tizzy, adding fuel to the ongoing fire. Also: It's earnings season, with EA, Microsoft, Capcom, Nintendo, Square Enix, Paradox, Take-Two, Sega, and Meta reporting. We also cover the latest in the layoff storm that continues to drown the industry and...
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ABOUT THIS SHOW
The business of video games can be complicated. In each episode of Virtual Economy, hosts and analysts Amanda Farough and Michael Futter break down the biggest business news in the video game industry.
HOSTED BY
Michael Futter and Amanda Farough
CATEGORIES
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Frequently Asked Questions
How many episodes does Virtual Economy have?
Virtual Economy currently has 100 episodes available on PodParley. New episodes are automatically indexed when they're published to the podcast feed.
What is Virtual Economy about?
The business of video games can be complicated. In each episode of Virtual Economy, hosts and analysts Amanda Farough and Michael Futter break down the biggest business news in the video game industry.
How often does Virtual Economy release new episodes?
Virtual Economy has 100 episodes. Check the episode list to see recent publication dates and frequency.
Where can I listen to Virtual Economy?
You can listen to Virtual Economy on PodParley by clicking any episode. We provide an embedded audio player for direct listening, and you can also subscribe via your preferred podcast app using the RSS feed.
Who hosts Virtual Economy?
Virtual Economy is created and hosted by Michael Futter and Amanda Farough.
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