Deconstructor of Fun

A new guest host, Josh Chandley, is stepping into the arena as we dig into Microsoft’s latest controversial moves and what they signal for the company’s long-term gaming strategy. Then, we unpack the historic $55B acquisition of EA by Saudi Arabia, the largest leveraged buyout in gaming history. What does this mean for EA, for the industry, and for the shrinking pool of public gaming companies? Finally, we explore AppLovin’s surprising push into e-commerce, and why it might be more disruptive than you think.

Timestamps

00:52 Guest Star Host: Josh Chandley

06:23 Microsoft’s Controversial Moves

13:35 The EA Acquisition: A Historic Deal

17:31 Industry Reactions and Analysis

29:12 Saudi Arabia’s Gaming Ambitions

31:39 Financial Concerns and Debt Management

40:16 AppLovin’s E-commerce Expansion

50:58 Unity’s Challenges and Opportunities

No Jen this week — just the boys. Phil loses it on Supercell and Google Play, we wade into the “brain rot” panic, and Simon Hay somehow still gets a shoutout. From Newzoo’s latest report to Supercell’s IPO pipe dreams, Discord going offline, Xbox hiking prices, and Epic trying to AI their way out of irrelevance…Chapters00:00 Introduction00:27 Jen's Neuralink Update00:41 Phil's Rant on Supercell and Google Play01:48 Brain Rot Controversy03:59 Shoutout to Simon Hay and Space Ape04:52 New Zoo Gaming Market Report05:22 Upcoming Events and Conferences09:07 Supercell's Struggles and IPO Speculations18:52 Discord's Decline and Google Play's New Features27:15 Xbox Game Pass and Price Hikes29:35 Microsoft's Struggles and FTC Concerns31:15 Epic Games' Monetization Shift35:52 Epic's New Announcements and AI Integration38:54 European Lottery Giant Acquires Prize Picks45:55 Lingo Kids' Funding and Strategy50:51 Take-Two's Puzzle Game Success54:28 Borderlands 4 Release and Performance Issues

Mobile gaming is slowing down, and the question isn’t if, but who still wins.

www.newzoo.com/resources/trend-reports/newzoo-global-games-market-report-2025

In this conversation, Michail Katkoff and Emmanuel Rosier from Newzoo break down Newzoo’s latest forecast, projecting the industry to hit $103B in 2025 with growth slipping below 3%. The duo explores what this slowdown means for developers, platforms, payment intermediaries, and a new wave of tech financing companies that are quietly reshaping the ecosystem.

Chapters

00:00 The State of Gaming in 2025

05:26 Player Demographics and Engagement Trends

10:22 Regional Growth and Market Dynamics

15:14 Revenue Distribution and Market Focus

22:18 Mobile Gaming Challenges and Opportunities

27:11 Genre Evolution and Player Preferences

38:23 The Shift from Console Wars to Nostalgia

42:06 The Balance of Remakes and Creativity

45:31 Understanding Remakes vs. Remasters

48:35 The Mobile Gaming Landscape

53:37 Roblox's Rise and Its Impact

58:34 The Future of Gaming Platforms and Trends

01:08:58 Outro.mp4

The TWIG crew dives into Unity’s latest missteps and what they signal for the future of game development, breaks down Discord’s push toward a blockbuster IPO, and unpacks how Nintendo’s big announcements could reshape the company’s next chapter. We also examine TikTok’s potential U.S. acquisition, Apple’s quiet but bold moves to redefine its gaming app strategy, the explosive rise of AI-driven apps, and go behind the scenes of Diablo Immortal’s development, while debating what Supercell must do to navigate a turbulent year ahead.

Chapters

01:21 Community Engagement & Updates

02:38 Game Economist Podcast Highlights

07:01 Unity’s Strategic Missteps

11:23 Diablo Immortal Dev Insights

16:04 Apple’s Gaming App Strategy

28:18 TikTok’s US Acquisition Talks

30:59 The Rise of AI-Driven Apps

33:31 Discord’s Upcoming IPO

42:57 Nintendo’s Big Announcements

54:24 Supercell’s Struggles & Future

What really happens when brands collide with games? Mishka Katkoff sits down with Bastian Bergmann, COO of Solsten, to break down why gaming is the most transformative medium of our time, how consumer psychology shapes player engagement, and why authenticity in games runs circles around social media.

00:20 The Power of Reading and Writing

01:12 Video Games as a Medium for Transformation

02:57 Parenting and Gaming: Finding Balance

08:25 Understanding Consumer Psychology

13:39 The Importance of Human Connection in Marketing

19:50 Gaming and Emotional Engagement

23:09 Games Driving Social Change

28:37 The Business Impact of Gaming on Brands

30:42 Navigating Risks in Gaming Investments

32:56 Starting Small: Testing the Waters in Gaming

36:08 Key Performance Indicators for Gaming Initiatives

39:26 Authenticity in Gaming vs. Social Media

43:49 Integrating Brands into Games: Challenges and Opportunities

45:47 Myth Busting: Data, Creativity, and Gaming Audiences

From Roblox’s RDC bombshells to Destiny Rising’s flop, this week’s DoF crew breaks down the biggest shifts in gaming. We get into NetEase’s bets, China’s growing power, and why analytics from Newzoo’s 2025 report matter more than ever. Plus: Blizzard’s messy leadership shakeups, Roblox’s new monetization tricks, Xbox’s subscription struggles, and the hype around Hollow Knight: Silksong. Oh, and yes, Jen’s got a big personal update too. <3

Chapters

00:00 Introduction and Personal Updates

03:55 Shills and Upcoming Events

06:00 Medical Leave and Personal Challenges

10:40 Corrections and Analytics Discussion

15:13 Destiny Rising and Community Reception

18:54 Chinese Developers and Western IPs

23:56 Warframe: A Case Study in Game Development

31:56 Market Trends and Player Demographics

36:26 Blizzard's Mobile Strategy: A Shift in Focus

40:40 Silksong: Success of Indie Games

45:11 Developer Exchange Rate and Its Implications

45:39 Roblox RDC: Key Announcements and Changes

54:33 Monetization Strategies: Rewarded Ads and Developer Insights

58:34 Roblox Moments: The TikTok Integration and Its Impact

01:00:31 Concerns Over Aggregation and Control in the Gaming Industry

Jen Donahoe is joined by Joe Ferencz (GameFam) and Stephen Dypiangco (Max Power Gaming) to break down the biggest takeaways from Roblox Developer Conference (RDC) 2025.

The crew digs into Roblox’s massive milestone of 112M DAUs, the 8.5% bump in the developer exchange rate to lure in more professional talent, and the new “ad flywheel” that streamlines campaigns while adding rewarded video into the mix. They also tackle the tricky business of bringing IP into Roblox, how AI is supercharging UGC, and why the company is doubling down on safety with 100+ new tools and policies.

00:18 Roblox's Growth and Platform Dominance

00:51 Overview of RDC 20250

4:39 RDC Vibes and Attendee Insights

09:48 Roblox's Monetization and Developer Payouts

18:21 Advertising and Rewarded Video Innovations

26:29 Brand Integrations and Campaigns on Roblox

28:34 Integration vs Standalone Brand Experience

30:46 Rewarded Video and Its Benefits

32:22 Challenges with Brand Hubs on Roblox

36:26 New IP Platform and Licensing

42:53 AI Tools for Developers and Players

46:11 Roblox Moments: TikTok Meets Roblox

50:38 Safety Measures and Brand Concerns

53:31 Roblox's Growing Influence

Mishka Katkoff sits down with Pranav Singhvi (General Catalyst, Customer Value Fund) and Joe Wadakethalakal (PVX Partners) to unpack the rise of UA financing, a new capital instrument that lets gaming and app companies scale user acquisition without giving up massive chunks of equity.

We break down:

1. Why traditional VC or debt financing is often a poor fit for customer acquisition.

2. The origins of UA financing and why treating cohorts as “assets” changes the game.

3. The differences between PVX Partners’ gaming-first model and General Catalyst’s broader CVF.

4. Success stories like Superplay’s $2B exit, powered by UA financing.

5. How founders should think about timing, risk, and capital allocation.

6. Why CAC is the new CAPEX, and how EBITCAC could replace EBITDA as the real profitability metric for gaming and app businesses.

00:00 – Guest Intros (Pranav Singhvi & Joe Wadakethalakal)

01:00 – What is UA Financing

05:30 – PVX Partners vs. Customer Value Fund

15:00 – Equity vs. UA Financing: Which Capital Fits Which Stage?

19:15 – Founders as Capital Allocators: Balancing Risk, Growth & Dilution

22:30 – What Returns Look Like in UA Financing (Real Economics)

24:30 – Scaling Beyond Balance Sheet Limits

28:00 – When Is the Right Time to Use UA Financing?

32:00 – LTV Curves, Incremental ROAS & Product Readiness

35:30 – Case Study: How Superplay Used UA Financing to Reach a $2B Exit

38:50 – PVX Success Stories

41:40 – Managing Risk: Oversight & Skin in the Game

48:00 – What Counts as CAC? Influencers, Celebs, and Brand Marketing

49:40 – The Future of UA Financing & Cohorts as a New Asset Class

52:40 – CAC is the New CAPEX: Rethinking EBITDA as EBITCAC

57:30 – Why Tech Companies Look Unprofitable but Aren’t

59:00 – Advice for Founders Considering UA Financing

01:04:00 – Capturing Market Share Before Competitors Catch Up

01:07:00 – Final Takeaways & Closing Thoughts

This week, we cover Google’s latest courtroom headaches, the evolution of KPIs in gaming analytics, and the incoming Call of Duty live-action movie. We unpack Rec Room’s layoffs, compare Roblox vs Rec Room head-to-head, and dig into Microsoft’s IP bets from Perfect Dark to Halo. Plus, we debate Star Wars: The Old Republic, break down Roblox’s latest monetization trends, and ask what the rise of real-money gaming in India means for the global market.

00:00 Introduction and Hosts’ Banter

02:38 Upcoming Gaming News Highlights

03:35 Cress’s Personal Update

05:39 Phil’s Podcast Review

07:16 Debate on Star Wars: The Old Republic

10:32 Google’s Legal News and Impact

12:58 New KPIs in Gaming Analytics

20:19 Call of Duty Live Action Movie Discussion

29:15 Google Play’s New Public Profiles

31:15 Rec Room Layoffs and Analysis

34:05 Capital Deployment and Venture Capital Concerns

34:47 Roblox vs. Rec Room: A Comparison

38:12 Perfect Dark and Microsoft’s IP Strategy

39:11 Halo and Hell Divers Collaboration

44:29 Destiny Rising and the Mobile Shooter Market

55:26 Roblox’s Monetization and UGC Trends

01:03:57 Real Money Gaming in India

01:07:00 Conclusion and Final Thoughts

Phillip Black and Michail Katkoff break down why they left the Nordics, trading modesty-maxxing for Mediterranean chaos and a bit more sun. The two dive into the quiet conservatism baked into Scandinavian life, the erosion of hunger that comes with too much comfort, and the calculus behind moving to Cyprus and Greece.

00:00 The Conservative Psyop of Scandinavia

04:31 Cultural Reflections and Personal Experiences in Sweden

09:07 Transitioning to Cyprus: Opportunities and Challenges

13:37 Understanding the Swedish Welfare State

18:03 Career Reflections and the Consulting Path

24:30 Navigating the Gaming Industry's Landscape

26:54 The Challenges of Client Management

29:51 Decisiveness in Consulting

32:41 The Emotional Rollercoaster of Consulting

34:36 Building a Sustainable Deal Flow

37:26 Establishing Expertise vs. Personality

41:39 Life Choices and Career Reflections

42:34 Balancing Work and Personal Life

46:13 Relocation and Family Decisions

48:58 Cultural Differences and Education Challenges

55:28 Economic Growth and Finland's Future

61:04 Reflections and Future Aspirations