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Lots of interesting stuff.
"Business-focused site MobileGamer.biz cites multiple "sources from inside Unity and across the mobile games business" in reporting that Unity received some significant pushback from senior-level managers before rolling out its initial fee-restructuring plans. "Half of the people in that meeting said that this model is too complicated, it’s not going to be well-received, and we should talk to people before we do this," one anonymous source told the site. "It felt very rushed. We had this meeting and were told it was happening, but we were not told a date. And then before we knew it, it was out there."
The big mover apparently was the need to draw people into using Unity's mobile advertising mediation system instead of a system called AppLovin, a dominant player that pulls in almost $2,000,000,000USD annually! They wanted a slice of that pie, and they blew it.
And the capper: "Inside Unity, that kind of hardball push for more ad mediation customers may have been seen as necessary to make up for a huge hole in the company's balance sheet. Despite bringing in over $1.8 billion in revenue in the 12 months ending in June 2023, Unity was nearly a billion dollars away from profitability during that same period, thanks in large part to a wave of expensive acquisitions. The perilous financial situation was reflected in Unity's tumultuous stock price, which grew from a 2020 IPO price of $68 a share to a peak of nearly $200 a share in late 2021, only to tumble to $37 a share by the beginning of September."
Classic. IPO, huge amount of cash available, spend lots of cash on acquiring companies with no clear plan on how they generate revenue for you. And then when they don't magically generate more than they cost you, you find you've blown a great big hole in your balance sheet. Yeah, Unity is in an awful lot of trouble.
https://arstechnica.com/gaming/2023/10/behind-the-scenes-of-unitys-rushed-out-install-fee-program/
"Business-focused site MobileGamer.biz cites multiple "sources from inside Unity and across the mobile games business" in reporting that Unity received some significant pushback from senior-level managers before rolling out its initial fee-restructuring plans. "Half of the people in that meeting said that this model is too complicated, it’s not going to be well-received, and we should talk to people before we do this," one anonymous source told the site. "It felt very rushed. We had this meeting and were told it was happening, but we were not told a date. And then before we knew it, it was out there."
The big mover apparently was the need to draw people into using Unity's mobile advertising mediation system instead of a system called AppLovin, a dominant player that pulls in almost $2,000,000,000USD annually! They wanted a slice of that pie, and they blew it.
And the capper: "Inside Unity, that kind of hardball push for more ad mediation customers may have been seen as necessary to make up for a huge hole in the company's balance sheet. Despite bringing in over $1.8 billion in revenue in the 12 months ending in June 2023, Unity was nearly a billion dollars away from profitability during that same period, thanks in large part to a wave of expensive acquisitions. The perilous financial situation was reflected in Unity's tumultuous stock price, which grew from a 2020 IPO price of $68 a share to a peak of nearly $200 a share in late 2021, only to tumble to $37 a share by the beginning of September."
Classic. IPO, huge amount of cash available, spend lots of cash on acquiring companies with no clear plan on how they generate revenue for you. And then when they don't magically generate more than they cost you, you find you've blown a great big hole in your balance sheet. Yeah, Unity is in an awful lot of trouble.
https://arstechnica.com/gaming/2023/10/behind-the-scenes-of-unitys-rushed-out-install-fee-program/
