In his new position, Pachler will utilize his over 25 years of experience in financial management with private and public entertainment and media organizations to support the lifestyle company in its next phase of growth as a public entity.
The new CFO will be in charge of every area of the company’s financial management, ranging from accounting and reporting, financial planning, M&A and investor relations, and strategic development. The appointment will be effective on or before October 3, 2022.
Pachler will also work hand in hand with the executive team to create strategies to produce new opportunities to generate revenue and drive advantageous growth. While at Critical Content, as the company’s CFO and managing director, he oversaw the sale of the company from private equity owners to the broader SK Global Entertainment.
Pachler also worked with Sony Pictures Entertainment as well as Playboy Enterprises. He was the Chief Financial Officer and EVP of Playboy. While he was with the company, it underwent a massive strategic repositioning that leaned towards a more conventional brand licensing business model. In 2011, Pachler also notably oversaw Playboy going private.
The new FaZe CFO spent over a decade at Sony Pictures Entertainment prior to his tenure at Playboy. He was in several expanding roles at the company. However, his last role was as the CFO and SVP in the company’s Strategy and Operations department.
FaZe Clan’s new appointment was announced not long after the company reported its net loss for the second quarter of 2022. In their first financial results since transitioning to a publicly listed company, the esports organization revealed that for Q2 2022, they recorded a $9.32 million (￡7.73 million) loss.
FaZe Clan also notably announced a previous high-level appointment earlier this year. In May, the esports organization revealed that Zach Katz had been brought on as the Chief Operating Officer (COO) and President of FaZe Clan. The announcement was made months after the company revealed its new board of directors, which included Lee Tink, the co-founder and CEO of FaZe Clan, as well as rap icon Snoop Dogg and Stephanie McMahon.
Concerning the newest appointment, Tink said, “We are thrilled to have Christoph join our team as he brings extensive financial, operational, and strategic experience and deep knowledge of the entertainment and media industry to FaZe Clan.”
The CEO continued, “Christoph’s experience in working with high-growth companies, both public and private, will be a tremendous asset to FaZe Clan as we continue to innovate as the leader in internet culture and accelerate our path to profitability.”
Pachler also reacted to his appointment. He said, “From the beginning, the FaZe Clan community has helped set the tone on how Gen Z consumes and creates entertainment. Now, as a public company, FaZe Clan is strongly positioned to turbo-charge its growth. I am incredibly excited to join Lee and the terrific team at FaZe Clan as we focus on opportunities to expand the business and create value for our stakeholders.”
FaZe Clan has been in the news both commercially and competitively. This year, the company partnered with major corporations like RESPAWN, DoorDash, and Disney. FaZe Clan’s esports CS:GO team is also making waves because, this year alone, they participated in and won major tournaments like the ESL Pro League Season 15, IEM Cologne, and the PGL Antwerp Major.
]]>The allegations were initially brought forward by nine individuals, spearheaded by customer rights activist Alex Neill, and reported earlier on August 22 by Sky News, which was the first to break this big piece of news. The claims made against Sony PlayStation revolve around the company’s alleged abuse of power, which it is believed they exploited to “rip off” customers by compelling them to pay higher prices.
Neill alleges that Sony charged a commission of thirty percent on each digital game and in-game purchase made through the PlayStation store.
Neill said: “The game is up for Sony PlayStation. With this legal action I am standing up for the millions of UK people who have been unwittingly overcharged. We believe Sony has abused its position and ripped off its customers.” Neill added, “Gaming is now the biggest entertainment industry in the UK, ahead of TV, video and music and many vulnerable people rely on gaming for community and connection. The actions of Sony are costing millions of people who can’t afford it, particularly when we’re amid a cost of living crisis and the consumer purse is being squeezed like never before.”
In the lawsuit, it is said that Sony PlayStation’s actions have caused an increase in costs for users, which has led to customers being “unwittingly overcharged” for their purchases of digital gaming goods by up to a total of ￡5 billion over the previous six years.
On Friday, all of these complaints were submitted to the Competition Appeal Tribunal, and anyone who has bought digital games or supplemental material between August 19, 2016, and the present time is eligible for compensation.
However, Ms. Neill also warned that claims of this nature can take a long time to resolve and that people who may be entitled to compensation could be left waiting if Sony PlayStation is unable to resolve the case.
Neill represented by Milberg London LLP. Natasha Pearman, who leads the case, has said, “Sony dominates the digital distribution of PlayStation games and in-game content; it has deployed an anti-competitive strategy which has resulted in excessive prices to customers that are out of all proportion to the costs of Sony providing its services. This claim is only possible because of the opt-out collective action regime that was introduced by the Consumer Rights Act 2015; a regime which Alex fought to introduce. We are looking forward to working with Alex and making sure that the regime achieves its aims of protecting and compensating consumers.”
]]>“Repeat is excited to announce we are now a part of the Sony Interactive Entertainment family, the home of @PlayStation and many amazing game studios,” the statement read.
Repeat.gg has hosted over 100,000 tournaments, with some being for PlayStation. These events, held in over 70 countries and featuring over 30 games, have seen over 2.3 million participants.
Sony Interactive Entertainment’s vice president of global competitive gaming, Steven Roberts, commented on the acquisition. He expressed Sony’s excitement and looks forward to what is attainable in the future.
“At PlayStation, our vision for esports has always been about breaking down barriers for gamers to compete at all levels.
“Together with the talented Repeat.gg team, we’re excited to explore more ways for players to engage in competitive gaming and expand the breadth of our esports offerings. This is just the start of our journey and we look forward to sharing more updates with our community in the future,” Roberts said.
READ: Sony closes deal to acquire Haven Studios
Repeat has said that its aims align with Sony, which is why both parties could come to an understanding. Repeat.gg CEO Aaron Fletcher is thrilled at the prospect of working with Sony to enhance gamers’ experience.
“Repeat.gg was designed to enable new tournament formats that are easy to enter and scalable to millions of players. We’re thrilled to join the PlayStation team and work together to enhance the variety of tournament experiences gamers can enjoy, regardless of their skill level,” he said.
A spokesperson for Repeat, through a press release, answered a few questions fans might have. Repeat revealed that it is business as usual while both companies work in the background to grow.
“At Repeat, we have always focused on ‘Esports for Everyone’. We want to bring the thrill and rush of competition to every gamer, no matter your skill level,” the statement read.
“For the short term it will be business as normal for Repeat, and we don’t expect any significant changes. In the background we will be planning, working and as always getting stuff done! We are so excited for the future and the ability to work alongside such a powerhouse in gaming; we can’t wait to share what we have planned for the future.”
Since the start of 2022, Sony has been making strides in the esports scene. In March, the company announced a partnership with PUBG mobile.
With the deal, Sony has been the primary sponsor of several PUBG global events, including the upcoming PUBG Mobile World Invitational. The event will commence on August 11, promising a $2 million prize pool.
Sony has been aggressive with its growth in the esports scene. Barely one week ago, it completed the deal to acquire Haven Studios. The console developers now have several studios working on new games and innovations, and an in-house tournament organizer.
]]>Sony welcomed Haven to the PlayStation Studios (PSS) family via a post on Twitter:
“It’s official! The agreement to acquire Haven has closed. Welcome to the PlayStation Studios family, @HavenStudiosInc!”
Led by the brilliant Jade Raymond, Haven has been in operation since 2021 and is exploring ways to make the gaming experience a lot more fun. However, their products will not be under Sony’s banner, as the parent company establishes itself in the Canadian gaming scene.
Even before the deal, Sony and Haven have been working together. They were working on a PlayStation-exclusive IP, and with them being essentially one body now, they will seek to expand PSS further.
Sony now has one more studio working on new games and innovations. Haven has been exploring cloud technology, which might be one of the rollouts from Sony in the future.
While Raymond is undoubtedly the brains in the studio, she is surrounded by experienced developers who have been in the scene for a while. Some of the team members are composed of people who were crucial to the success of titles like Assassin’s Creed and Rainbow Six Siege.
Raymond has spoken about the team, and how they have slowly been expanding with a focus on long-term cloud innovation.
“We had a cloud team initially that was about six people working on new ways to work. Now, we’ve just welcomed another 21 engineers to focus on long-term cloud innovation, because we really believe it’s going to be a game-changer in terms of how games are made,” she said.
Raymond has brought her years of experience working at Google to Haven. She was part of the team that developed Google’s Stadia cloud streaming platform.
But after Google decided to redirect its focus, Raymond created Haven, further exploring cloud technology. While Stadia focused on the consumer aspect of cloud gaming, she revealed that Haven leans more towards the developers.
“There have been people talking about these different forms of cloud gaming from the consumer side, such as: ‘you can now play these AAA games on mobile’ or ‘I can now do these different kinds of games,’ which was the promise of Stadia. But the promise of cloud that we’re really focusing on is more what it means to game developers,” Raymond said.
She talked about how the goal is to ensure that the gaming process gets more efficient while consuming less data.
“Our initial part of ‘studio in the cloud’ was really a focus on starting-up and building tools and the general things to get people working from home really quickly. Now we’re looking at the next step: how do we innovate in terms of certain modules that the live service and engine needs, and how do we do those things in a more scalable way that will really enable us to have a more rapidly evolving game and more productive people? That’s the dream,” Raymond said.
Sony has been a major player in the gaming scene. The gaming giant released its first console in 1994 and has since gradually grown into an industry expert.
Outside of its products, Sony has sponsored several esports events. In March 2022, Sony signed a deal with PUBG Mobile, becoming the official smartphone phone partner for PUBG global tournaments.
Players and teams were supplied with Sony Xperia phones. The Xperia is a high-end smartphone that significantly improves the gaming experience.
As part of PUBG’s global tournaments, Sony is listed as the primary sponsor in the 2022 PUBG Mobile World Invitational.
From August 11, 18 teams will come together for the offline event in Riyadh, Saudi Arabia. Every team will be fighting for a piece of the $2 million prize pool, and seeding to the World Invitational Afterparty Showdown.
]]>As part of the multi-year partnership agreement, the company will become the official headset sponsor of the Valorant Champion Tour, beginning with the Stage 2 Masters competition that will take place in Copenhagen from July 10-24.
The Chief Operating Officer of Riot Games, Whalen Rozelle, commented on the partnership. She conveyed the game developer’s excitement to have the top electronics brand better the experience at the global Valorant event.
“We are excited to have Sony’s audio technology level up the experience at our global VALORANT Esports events,” Rozelle said.
“Communication is a critical aspect of VALORANT and this partnership will enable us to bring our viewing audiences deeper into the most exciting moments of our biggest matches. Sony’s commitment to innovation will further elevate VALORANT as a leading global esport.”
Sony Corporation’s Head of Game Business and Marketing Officer, Yukihiro Kitajima, had earlier made a statement reaffirming Sony’s commitment to the growth of esports.
“The market has been expanding with a higher interest in gaming with the spread of esports tournaments and the advancement of gaming entertainment,” Kitajima said.
“With Sony’s strong history of high-end audio and visual technology products, we believe this new line will offer even more options for those looking to upgrade their current gaming systems.
“We are committed to contributing to the growth of gaming culture by providing PC and PlayStation gamers with a wider range of options to enrich lives through gaming.
“Also, Sony is proud to have a sponsorship with leading global esports leagues, Evolution Championship Series (Evo) 2022 and 2023, PGL DOTA2 Arlington Major 2022, and the VALORANT Champions Tour with our wish for further advancement of gaming culture.”
Introducing INZONE – A new line of gaming products from @SonyElectronics
H9: Wireless Noise Canceling Gaming Headset
— Sony (@Sony) June 29, 2022
?In addition, the company will work together with Riot Games to produce a brand-new broadcast section that will be called ‘Open Mic’. The purpose of this part is to draw attention to how vital communication is throughout the competition.
Riot Games has confirmed a relationship with Sony INZONE for the 2022 VCT season, making this the company’s fourth confirmed partner. Other confirmed partners include the first-person shooter (FPS) performance and training platform Aim Lab.
]]>While the product has been widely accepted and welcomed, the company has had to struggle with a global component shortage. The demand continues to soar but supply chain issues have limited its reach, leaving customers without the consoles.
The head of global sales and business operations at Sony Interactive Entertainment, Veronica Rogers spoke about the issues surrounding the product. She started by thanking the fans for their continuous support, stating that their support drives and inspires the brand.
“Since PS5’s launch, our teams have worked tirelessly to deliver a truly next-gen gaming console that has won the world over and we want to take this time to thank the fans for their support,” Rogers said. “Your passion for the PlayStation brand is what drives us and what inspires us to innovate new technology, engineer the future of gaming, and continue creating the best place to play.”
She went on to apologize to those fans who are yet to access the console, revealing that the company is working towards increasing productivity. She shared that the team is working endlessly to make the PS5 console available in large quantities for people who need them.
“To those fans who have yet to get their hands on a console, please know that we are planning on a significant ramp-up in PS5 production this year and we are working endlessly to make sure that PlayStation 5 is available for everyone who wants one,” Rogers concluded.
By the end of the year, Sony will be looking to put the issues of the PS5 not meeting demand to rest as the company assure the public it is aware of the problems they face.
Although the PS4 has made more sales than the PS5 considering the same duration from their release date. Sony is keen on getting the PS5 sales up by fixing the supply problem. The company predicts that in the fourth year of sales, the PS5 console will have surpassed the PS4.
According to the senior analyst at Niko Partners, Daniel Ahmad, the PS5 is said to have hit the 20 million in sales mark after over one year, six months of release, an approximate total of 568. While this feat was attained by the PS4 in about three months (97 days) less time than it took the PS5 console. PS4 had hit the mark in about one year and three months, a total of 471 days.
“For reference, the PS4 sold 20m units in 15 months and 14 days (471) days,” Ahmad tweeted. “The PS5 hits 20m units after 18 months and 22 days (568 days). It’s worth noting that the PS5 actually hit 10m faster than the PS4 did. But the issues with supply is the reason why it’s behind now.”
He had also revealed that the PS5 hit the 10 million unit market faster than it took the PS4. Clarifying that the supply chain problems were the reason being the sales slowing down.
?More esports news
Following Sony’s very recent investor presentation, the company predicted that new PlayStation 4 titles would stop being released as early as 2025. It’s bad news for people who have been debating whether or not to buy Sony’s latest hardware due to scarcity or the reseller market. But it does indirectly push players to acquire a new PlayStation 5.
The presentation revealed a lot about Sony’s evolution from the previous generation of consoles to the current one. It also indicated future IP plans and development possibilities for partners.
Its morning business briefing included a graphic that appeared to totally wipe first-party PS4 game income off the charts, as discovered by Push Square.
Sony’s revenue off PS4 and PS5
Sony expects its revenue split in 2025 to be significantly more leaned towards PS5, mobile, and PC, with no mention of PS4. According to Sony, the PS5 outsold the PS4 in its first year before falling behind the PS4 in its second year due to supply problems. The PS5 is expected to eclipse the PS4 in sales in the future, according to Sony.
The supply constraints with the PS5 are of heightened priority that the company is working to overcome. If it does continue to offer first-party PS4 games till 2025, that will be more than any preceding console generation’s post-PS5 support.
This again implies that PS4 owners still have several years to switch to its most up-to-date hardware. Third-party developers must still decide if they want to create games for both the PS4 and the PS5 or just one of the two. Upgrades from PS4 to PS5 games will remain ￡10 for first-party titles and at the discretion of the developer for third-party products.
Sony disclosed that in the fiscal year of 2021, the PS4 generated 65 percent of its store sales, as opposed to PS5’s 35 percent sales rate. PS4 accounts for 69 percent of all PS Plus subscribers.
Despite Sony’s promises to make PS5 supply concerns a thing of the past, the problem appears to be gradually resolving. New PS5s are in stock at major UK and US retailers, according to a quick web search.
Sony’s consensus to move away from the PS4 is likely to be determined by its ability to resolve these supply issues. With both Russia’s invasion of Ukraine and the impacts of COVID-19 on production still causing a backlog for new systems to hit the market.
While the PS4 is still earning so much cash from digital sales and in-game purchases through the PS Store. Suspending content releases for the older console would almost certainly result in considerably slower revenue growth. Especially, if so many users are still having difficulties purchasing the PS5 console in two years.
In other PlayStation news, Sony Interactive Entertainment Chief Executive Officer, Jim Ryan announced that the company is developing Horizon Zero Dawn and Gran Turismo TV programs in addition to Twisted Metal, The Last of Us, and God of War.
?More esports news
An update on the all-new PlayStation Plus regional
rollout plan: https://t.co/Z8P70Tq7TB pic.twitter.com/fzOULnycKR— PlayStation (@PlayStation) April 22, 2022
CEO and president, Sony Interactive Entertainment Jim Ryan addressed the PlayStation community, thanking them for their continuous support. He also stated that the rollout will commence in a few weeks and promised to share more details over time prior to the launch.
“We’ve been working on this massive global effort to provide flexible options, quality games and greater value for our members for quite some time now – and we’re just a few weeks away from our first regional rollout. We want to thank our PlayStation community for the ongoing support, and we’ll have more to share as we get closer to launch.”
The soon to be launched PlayStation plus, is said to have three subscription features which are the Essential, Extra and Premium.
PlayStation Plus Essential and PlayStation Plus Extra
The Essential tier maintains all the old features of the PlayStation Plus, such as multiplayer access online, cloud storage for saved games, exclusive discount, two monthly downloadable games and also the price remains the same.
The Extra has all features of the Essential tier firstly, then it adds a catalog of up to 400 PS4 and PS5 games. Also the games in the Extra level can be downloaded.
PlayStation Plus Premium
For the Premium membership which is the top tier package, it contains all features of PlayStation Plus Extra, it has up to 400 PS4 and PS5 games, with another 340 games along with PS3 games that are available through cloud, with PS1, PS2, PSP games that can be accessed through cloud and can be downloaded. Games that are time bound will be for trial, to enable consumers choose games before purchase is made.
In Ryan’s earlier announcement about the new services, he stated that the new services ‘represent a major evolution for Playstation Plus.’ He reiterated the focus of the brand is in offering the best quality content.
“The new Extra and Premium tiers represent a major evolution for PlayStation Plus. With these tiers, our key focus is to ensure that the hundreds of games we offer will include the best quality content that sets us apart.”
Sony has made mention that the inclusion of the Extra and Premium categories marks a significant step for PlayStation Plus. The hundreds of titles to be featured will be of best quality and content, making them stand out amongst others.
PlayStation has been a viable platform for esports betting titles such as Fortnite, League of Legends, Rocket League, Valorant, and Call of Duty.
Thus, Ryan has stated that they intend to include titles such as Marvel’s Spider-Man, Returnal, Mortal Kombat 11, God of War, and many others in their premiere.
Furthermore, expanding cloud stream access under the PSP Premium tier to Poland, Croatia, the Republic of Cyprus, Bulgaria, Greece, and Malta, bringing the total to 30 markets.
]]>A joint statement was released by all three brands expressing their hope for the future and the direction the funding will be targeted to. In the statement, the funding was said to be going towards the “vision to build the metaverse and support its continued growth”.
“??They reinstated their commitment to the creators and players likewise. Stating that the objective is to create great social entertainment, whilst exploring the link between digital and physical,” the statement read.
?”All three companies highly value both creators and players, and aim to create new social entertainment exploring the connection between digital and physical worlds.”
The investment was made possible by the Japanese tech giant Sony and the private holding and investment company KIRKBI, who both invested a billion dollars each. In a bid to maintain cohesion within the company, Epic Games will be retaining its Founder and CEO, Tim Sweeney. ??
Speaking about the investment, the Chairman, President, and CEO of Sony Group Corporation, Kenichiro Yoshida, shared his strong confidence in Epic and its efforts towards creating an amazing experience for the esports and gaming community.?
“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,” he said.
??There’s been a huge interest around the metaverse, NFTs, and Web3 and their endless offerings from various esports companies, including BAYZ, EVOS Esports, and Yesports. While there was scarce information as regards the actual products to be developed or impacted, whether or not it will include esports betting in the metaverse. They promised to create a new digital experience for fans, which could involve their esports games and possible betting options for a reward-based experience.
??About Epic Games
?The American video game developer and publisher was formerly known as Potomac Computer Systems, which launched in 1991. It was initially operational from founder Tim Sweeney’s parents’ house in Potomac, Maryland.
?After several name changes, like Epic MegaGame, Sweeney and partner Mark Rein settled for a much simpler name with Epic Games. Its headquarters was moved to Cary, North Carolina, in 1999.
?Epic Games is also known for Unreal Engine, a commercial engine available for game creators to build on. The engine has overtime powered popular games and has also been used in various other industries such as automotive, film and television, and manufacturing, amongst others.
?Epic is the leading interactive gaming platform with its flagship product, Fortnite. The battle royale title, which has over 350 million registered accounts and 2.5 billion friend connections, has grown into one of the biggest games in the world.
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