3A大作的高定价策略终究迎来反噬，玩家们渐渐没有了原价购买游戏的习惯。日前海外知名评测媒体 eTeknix爆料称，育碧在内部会议中探讨了近期英国乃至全球游戏销量普遍下滑的现象，并发出预警， 指出玩家以全价购买游戏的意愿已经大不如前。 根据官方公布的财务数据显示，尽管育碧英国的营收增长了11%，但其同期产品销量却大幅下滑29%。 而这样的数据，则代表了全价游戏购买量出现萎缩。育碧英国在业务简报中更是直白地指出，"消费者 游玩的游戏数量在减少，但单款游戏的游玩时间却在延长。这种趋势就导致除了少数特例外，许多新游 戏将难以在市场中突围。" 那么问题就来了，为什么玩家不愿意原价购买游戏，更喜欢化身为"等等党"呢？这个问题的答案，是作 为数字游戏分发代名词的Steam，以及育碧为代表的游戏厂商主动将用户塑造成了"早买早享受，晚买享 折扣，不买免费送"的消费习惯。 如果将时间往前推就不难发现，早期在游戏行业中晚买享折扣都不存在，就更遑论将游戏免费送给玩家 了。 事实上，千禧年之前的实体游戏时代，游戏行业还是"早买早享受，晚买玩不到"。没错，实体游戏光盘 的刻录、运输、仓储都需要时间，这就直接导致热门游戏在上市初期经常会出 ...

Key Takeaways ED outlines $38B in 2025-2029 capital spending to strengthen energy infrastructure.The plan includes major investments in clean generation and climate resilience projects.Regulator-approved rate plans may limit ED's pricing flexibility and cost recovery.Consolidated Edison’s (ED) systematic capital investment plan should further boost its operations and improve its service reliability. The expansion of the company’s renewable energy portfolio enhances its ability to derive economic value and m ...

如何定义Steam？ 不同视角下的数据，会导向迥异的答案。根据今年8月Valve业务发展负责人Erik Peterson在科隆展上披露的信息，5年来，Steam平台的同时在线用户量由 2020年的2000万增长到如今的4000 万以上，游戏内同时在线用户数峰值也突破了1200万。 同时，2024年Steam的游戏发行收入也创下历史新高，多达224部游戏在这里拿下了百万美元以上的营收。不夸张地说，这一平台的影响力、渗透率和商业 号召力仍在飙升，哪怕它早已是全世界PC游戏市场中最庞大的分销枢纽。 但在另一些人眼中，这种"庞大"本身也蕴含着隐忧。 不久前，来自PC游戏分发平台ROKKY的白皮书《PC游戏分发现状（The State of PC Game Distribution）》，就用一连串独立调研数据昭示了行业内的普 遍焦虑。今年5月，Atomik Research对英美背景的306位游戏从业者开展访谈，受访者大多来自50人以上规模的游戏工作室，其中四分之三身处管理层岗 位。 报告指出，Steam营收已经占到了大多数游戏工作室收入总量的75%以上，超过半数的开发者承认团队对 Steam"过度依赖"。并且，这些信 ...

Core Insights - Gabe Newell, co-founder and president of Valve Corporation, recently celebrated significant milestones, including the launch of new hardware products and the acquisition of a $500 million superyacht named "Leviathan" [2][5][8] Group 1: New Hardware Launch - Valve Corporation introduced three new hardware products, including a compact gaming console, a game controller, and a VR headset [2] Group 2: Acquisition of Oceanco - Newell acquired the Dutch shipyard Oceanco, known for luxury yacht construction, although the transaction amount was not disclosed [2][8] Group 3: Features of "Leviathan" - The "Leviathan" superyacht measures 364 feet (approximately 111 meters) in length and 58 feet (approximately 17.7 meters) in width, ranking as the 50th largest yacht globally and the largest delivered by Oceanco [5] - The yacht can accommodate 26 guests and 37 crew members, featuring a submarine garage, diving center, fully equipped laboratory, onboard hospital, and a 3D printing workshop [5] - Additional amenities include an esports room with 15 high-performance gaming terminals, two racing simulators, two gyms, a 250-square-meter beach club with a spa and bar, a diving platform, and a basketball court [5] Group 4: Environmental Considerations - "Leviathan" is equipped with a diesel-electric hybrid power system and energy storage batteries, allowing for long periods of silent, zero-emission navigation [7] - The yacht features advanced wastewater treatment and waste heat recovery systems, with a total of 280 miles (approximately 451 kilometers) of cabling installed to support various systems [7] Group 5: Newell's Vision and Collaboration - Newell expressed satisfaction with the collaboration with Oceanco, highlighting the team's professionalism, creativity, and enthusiasm in realizing his vision for the yacht [7][8] - Oceanco described Newell as a hands-on visionary who respects the ocean and values craftsmanship [8]

Core Insights - The future trend of the gaming industry is shifting towards the PC platform and a more open ecosystem, as stated by Take-Two's CEO Strauss Zelnick [1] - While console gaming offers a closed, high-quality experience, it is becoming less dominant as the business model leans towards openness [1] - The traditional console market is experiencing stagnation, with major players like Sony, Nintendo, and Microsoft competing for existing user bases rather than expanding into new markets [1] - In contrast, the PC gaming market is thriving, with platforms like Steam achieving record sales, indicating a robust consumer base [1] Group 1 - The gaming industry is moving towards a more open ecosystem, with a focus on PC gaming [1] - Console gaming will continue to exist as a significant form of entertainment, despite the shift [1] - The competition among major console manufacturers is primarily about market share within existing user groups [1] Group 2 - The PC gaming ecosystem is attracting new developers and players, showcasing its growth potential [1] - The emergence of diverse hardware forms, such as Steam Deck and ROG Ally, is enhancing the PC gaming experience while maintaining its openness [2] - These portable PC devices may capture market share from traditional console manufacturers, further promoting the prosperity of the PC gaming ecosystem [2]

IT之家 11 月 17 日消息，据数据分析公司 Alinea Analytics 估算，Valve 公司旗下数字发行平台 Steam 在 2025 年 1 月至 11 月中旬期间已实现营收逾 162 亿美元（IT之家注：现汇率约合 1151.15 亿元人民币），该数字涵盖付费游 戏销售收入及免费游戏内购收入。 若上述估算准确，2025 年将超越 2024 年，成为 Steam 平台历史上营收最高的年份。Alinea Analytics 指出，Steam 2025 年迄今的收入已比 2024 年全年总收入高出约 5.7%；随着年末促销活动（如冬季特卖）临近，这一差距有望 进一步扩大。 此外，Alinea Analytics 估算显示，Steam 平台运营方、游戏发行商 Valve 公司仅 2025 年已通过平台抽成及自有游 戏销售收入获得超 40 亿美元（现汇率约合 284.23 亿元人民币）收入；该公司暂未公布其他年份的对比数据。 Valve 公司近日发布了全新 Steam Machine 主机。据官方介绍，其图形处理性能较 Steam Deck 掌机提升逾 6 倍。 该设备定位为紧凑型家用游戏 PC，专为 ...

Key Takeaways Consolidated Edison's Q3 adjusted EPS rose 13.1% to $1.90, topping estimates by 7.9%.Total operating revenues climbed 10.7% to $4.53B, led by higher electric and gas sales.The company lifted its 2025 EPS outlook to $5.60-$5.70, narrowing to the upper half of guidance.Consolidated Edison, Inc. (ED) reported third-quarter 2025 adjusted earnings of $1.90 per share, which topped the Zacks Consensus Estimate of $1.76 by 7.9%. The bottom line also improved 13.1% from $1.68 recorded in the prior-year ...

Core Insights - Consolidated Edison (ED) reported a revenue of $4.53 billion for the quarter ended September 2025, marking a year-over-year increase of 10.7% and exceeding the Zacks Consensus Estimate of $4.16 billion by 8.82% [1] - The company's EPS for the same period was $1.90, up from $1.68 a year ago, representing a surprise of 7.95% compared to the consensus estimate of $1.76 [1] Revenue Performance - Operating revenues for O&R were $349 million, surpassing the average estimate of $332.21 million, reflecting a year-over-year change of +6.1% [4] - CECONY's operating revenues reached $4.18 billion, exceeding the three-analyst average estimate of $3.85 billion, with a year-over-year increase of +11.1% [4] - Steam operating revenues were reported at $56 million, compared to the average estimate of $54.1 million, showing a +14.3% year-over-year change [4] - Con Edison Transmission reported operating revenues of $1 million, slightly below the average estimate of $1.02 million [4] - CECONY's Gas operating revenues were $392 million, exceeding the average estimate of $346.7 million, with a year-over-year increase of +16.3% [4] - O&R's Electric operating revenues were $308 million, surpassing the two-analyst average estimate of $288.21 million, reflecting a +5.1% year-over-year change [4] - Gas operating revenues totaled $433 million, exceeding the average estimate of $388.81 million, representing a +16.1% change compared to the previous year [4] - Electric operating revenues were reported at $4.04 billion, compared to the average estimate of $3.7 billion, indicating a +10.1% year-over-year increase [4] - CECONY's Electric operating revenues reached $3.73 billion, surpassing the average estimate of $3.42 billion, with a +10.6% year-over-year change [4] - Operating Income for CECONY was $914 million, slightly above the three-analyst average estimate of $901.84 million [4] Stock Performance - Shares of Con Ed have returned -4.7% over the past month, while the Zacks S&P 500 composite has changed by +1.3% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Core Viewpoint - ByteDance is launching a new gaming distribution platform called GameTop, aimed at overseas markets, which signifies a strategic shift in its gaming business focus from traditional development and distribution to a self-owned platform model [2][6][22]. Group 1: GameTop Platform Launch - GameTop is designed to provide personalized gaming content and integrate game distribution, creation tools, and social features for users [2]. - The platform aims to leverage TikTok's global influence to promote its offerings and reduce reliance on third-party platforms like Google Play and App Store [22][23]. - ByteDance's recruitment for GameTop indicates that the platform is still in its early stages, focusing on user engagement and monetization strategies [19]. Group 2: Strategic Adjustments in Gaming Business - ByteDance's gaming strategy has evolved from aggressive expansion to a more focused approach, emphasizing resource integration and innovation for long-term stability [6][8]. - The company has previously invested heavily in the gaming sector, with over 300 billion yuan spent on 22 investments across 19 gaming companies from 2019 to 2022 [7]. - The management's goal is to potentially achieve an independent IPO for its gaming business while ensuring stable operations rather than seeking short-term explosive growth [6][8]. Group 3: Competitive Landscape - ByteDance's GameTop will face significant competition from established platforms like Steam, which currently holds a dominant market share of approximately 70%-75% in the global PC gaming distribution market [13][14]. - Unlike Steam, which caters primarily to hardcore gamers, GameTop is targeting casual gamers, which may limit its ability to directly compete with Steam's established user base [19]. - The gaming market is witnessing a shift towards mobile platforms, and GameTop aims to capitalize on this trend, potentially positioning itself as a "mobile version of Steam" [20]. Group 4: Market Opportunities - The global gaming market is projected to see substantial growth, with Chinese game exports expected to reach $18.557 billion in 2024, marking a 13.39% increase year-on-year [22]. - ByteDance's GameTop could benefit from the growing trend of game exports, particularly in regions like Southeast Asia and the Middle East, where competition is less intense compared to Western markets [22]. - The platform's focus on casual gaming and social interaction may create new opportunities for user engagement and retention, leveraging TikTok's existing user base [19][22].

Group 1 - Consolidated Edison, Inc. (NYSE:ED) is recognized as one of the 13 most undervalued dividend stocks according to Wall Street analysts [1] - The company serves approximately 3.7 million electric and 1.1 million gas customers, operating the largest steam system in the United States [2] - Wells Fargo initiated coverage on Consolidated Edison with an Equal Weight rating and a price target of $99, highlighting a preference for companies with growth prospects and undervalued utilities [3] Group 2 - Consolidated Edison announced a quarterly dividend of $0.85 per share, maintaining its payout and marking 51 consecutive years of dividend increases [3] - The stock currently supports a dividend yield of 3.51% as of October 29 [3]