Blackbird, a new game from ZeniMax Online Studios, impressed Xbox boss Phil Spencer earlier this year. Microsoft just canceled it. https://t.co/i48fFfN36q ...

Company Overview - Blackbird plc is a developer of a cloud video platform and a browser-based collaborative video editor, elevate.io, which has recently completed a £2 million top-up raise to accelerate its growth phase [1][5]. Product Features - elevate.io is a collaborative online video editor that operates entirely in the browser, providing professional-grade tools that mimic a high-performance desktop application [2]. - The platform utilizes Blackbird's patented technology to deliver smooth, frame-accurate editing with real-time and asynchronous collaboration, making professional video production accessible globally [2][3]. Market Opportunity - The global creator economy is projected to reach $500 billion by 2027, with elevate.io targeting a serviceable market valued at $6.9 billion [5]. - The platform launched its paid Creator Plan in February 2025, indicating market validation and a growing subscriber base [5]. Strategic Vision - Blackbird's Executive Chair, Ian McDonough, expressed confidence that elevate.io will revolutionize video editing in a manner similar to Figma's impact on design, enhancing collaborative workflows for creators and brands [6].

Group 1: Company Actions - Microsoft is implementing mass layoffs, cutting approximately 4% of its workforce, equating to about 9,000 roles across the company [1] - Microsoft Gaming chief Phil Spencer indicated that the company will end or decrease work in certain areas to focus on strategic growth and increase agility by removing layers of management [2] - Xbox Game Studios head Matt Booty confirmed the cancellation of several games, including "Perfect Dark" and "Everwild," and mentioned the closure of The Initiative studio [3] Group 2: Game Cancellations - The cancellation of "Perfect Dark," a reboot of the classic FPS series, is significant, with development ongoing since 2018 and gameplay footage shown in June 2024 [4] - "Everwild," a new IP from Rare, has also been canceled after a tumultuous development period, having been announced in 2019 and rebooted in 2021 [5][6] - An untitled MMORPG from Zenimax Online Studios, codenamed "Blackbird," which was intended as a successor to "Elder Scrolls Online," has also been put on hold [6][7] Group 3: Industry Impact - The layoffs and game cancellations highlight job instability in the gaming industry, raising concerns about the future of major game releases and overall confidence among gamers [8][9] - The cancellations of high-profile titles like "Perfect Dark" and "Everwild" could impact Microsoft's release schedule in the coming years, although all games showcased during the 2025 Xbox Games Showcase will continue development [9]