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Microsoft Plans To Expand Cloud Gaming Product Service To TVs

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Microsoft is developing dedicated streaming hardware that people will be able to hook up to their TVs to use its Netflix-like cloud gaming service.

The company is betting the future of video games will be a subscription-based model where people pay a certain amount of money each month to get access to a plethora of titles.

Its Xbox Game Pass service does exactly that, offering access to a library of games developed both in-house and by third-party studios.

That’s mostly digital downloads, but last year streaming was added with Microsoft publicly releasing Xbox Cloud Gaming. The feature is sort of like a “Netflix for games,” allowing gamers to play games that are hosted on remote servers and then streamed to users over the internet.

A number of other companies have launched similar game-streaming services, including Google with Stadia and Amazon with Luna.

Now, Microsoft is aiming to push its cloud gaming product to other platforms. It started rolling out Xbox Cloud Gaming to some users via a web browser on iPhones, iPads and PCs in April (Microsoft couldn’t launch a proper mobile app for cloud gaming on Apple devices due to a dispute over App Store policies). And on Thursday, the company announced it wants to expand the service to TVs as well.

One way it plans to do that is by partnering with manufacturers to add cloud gaming to smart TVs. But Microsoft is also developing streaming devices that users can plug into their TV or computer monitor to stream games from the cloud. The company didn’t elaborate on what those devices could look like, though it’s reminiscent of Amazon’s Fire TV and Google’s Chromecast dongles, both of which now support cloud gaming.

In addition, Microsoft says it is working with mobile carriers like Telstra in Australia to offer new Xbox, subscription models. It’s also expanding cloud gaming to four new countries — Australia, Brazil, Mexico and Japan — later this year, and aims to publicly launch the browser-based version of the software to all members of its $15-a-month Xbox Game Pass Ultimate subscription in the coming weeks.

Microsoft said it plans to add cloud gaming to its new Xbox Series X console, which launched last November to compete with Sony’s PlayStation 5. In the next few weeks, the company will also upgrade the servers that power its cloud gaming service from its old Xbox One hardware to the Xbox Series X.

Microsoft competes aggressively with Sony when it comes to gaming. But it’s taking a different strategy to its Japanese counterpart. While Sony is known for blockbuster exclusives that can only be played on a PlayStation console, Microsoft is focusing on embedding its Xbox services onto multiple platforms, including mobile and PC.

Microsoft has been stepping up its investments in gaming, buying the iconic studio Bethesda for $7.5 billion in its biggest video game-related acquisition yet.

The company is holding a joint event with Bethesda on Sunday as part of the E3 gaming conference to show off new games, with fans speculating they will reveal some details about a hotly-anticipated sci-fi game called Starfield.

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Fintech

From Trading to Credit: Robinhood Launches No-Fee Credit Card with Gold Membership Perks

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Robinhood Markets Inc. has announced the launch of its highly anticipated no-fee credit card and it was accompanied by exclusive perks for Gold membership subscribers.

This bold move is a step in the company’s mission to evolve into a comprehensive financial services provider.

The Robinhood Gold Card boasts an array of enticing features. Chief among them is the absence of annual costs or foreign transaction fees, positioning it as an attractive option for consumers seeking financial flexibility.

Moreover, cardholders stand to benefit from a generous 3% cash back on all categories of purchases, a competitive offer in comparison to industry rivals.

Vlad Tenev, CEO of Robinhood, emphasized the company’s commitment to innovation and industry leadership in an interview.

He expressed the intention to not merely introduce a credit card, but to revolutionize the market with a product that sets new standards for customer satisfaction and financial empowerment.

The announcement has sparked enthusiasm among investors, with Robinhood’s shares witnessing a 6.9% surge in early market trading following the news.

This surge further underscores the market’s confidence in the company’s strategic direction and its potential to disrupt traditional financial services.

Beyond the credit card venture, Robinhood has been steadily diversifying its offerings. With the introduction of retirement products and the expansion of commission-free trading services internationally, the company is positioning itself as a formidable player in the global finance landscape.

As Robinhood continues to innovate and expand its suite of services, its trajectory suggests a promising future as a leading force in democratizing access to financial tools and services.

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Telecommunications

NCC Files Copyright Infringement Charges Against MTN Nigeria and Others

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The Nigerian Copyright Commission (NCC) has taken legal action against MTN Nigeria Communications Ltd. and four individuals, including its Chief Executive Officer, Karl Toriola, over alleged copyright infringement.

The charges, filed in the Federal High Court, Abuja Division, revolve around the unauthorized use of musical works belonging to artist Maleke Idowu Moye.

According to the NCC, the defendants are accused of offering for sale, selling, and trading musical works of Maleke without his consent between 2010 and 2017. These works were allegedly used as Caller Ring Back Tunes without proper authorization.

The musical pieces in question include popular tracks such as “911,” “Minimini-wanawana,” and “Stop racism,” among others.

The commission further alleges that the defendants distributed these musical works to subscribers without authorization, infringing upon the rights of the artist.

The charges are based on provisions of the Copyright Act, Cap. C28, Laws of the Federation of Nigeria, 2004.

As the case awaits assignment to a judge and a fixed date for mention, it marks a significant development in the ongoing efforts to uphold copyright protection in Nigeria’s telecommunications sector.

This legal action underscores the NCC’s commitment to safeguarding the intellectual property rights of artists and creators within the country.

MTN Nigeria, a major player in the telecommunications industry, now faces a legal battle that could have broader implications for how intellectual property rights are respected and enforced within Nigeria’s digital landscape.

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Telecommunications

MTN’s MoMo Sees 32.2% Surge in Transaction Volumes

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MTN Group’s mobile money platform, MoMo, has experienced a 32.2% surge in transaction volumes.

With 72.5 million active users, MoMo continues to solidify its position as a leading fintech service provider in Africa, tapping into the continent’s burgeoning mobile banking sector.

The company’s success underscores the growing trend of Africa’s young and tech-savvy population embracing mobile technology to address financial needs.

Mobile phones are increasingly becoming a tool for bridging gaps in services, particularly in banking, presenting a lucrative opportunity for wireless carriers like MTN to capitalize on the burgeoning fintech market.

MTN’s achievement comes as it finalizes a deal with Mastercard Inc., valuing its fintech business at an impressive $5.2 billion.

This strategic partnership further enhances MTN’s position in the digital finance space, positioning it for continued growth and innovation.

However, MTN is not alone in its fintech endeavors. Rivals such as Airtel Africa Plc, Safaricom Plc, and Vodacom Group Ltd. are also making strides in digital transformation, with plans to separate and monetize their fintech businesses in the long term.

Airtel Africa, for instance, is reportedly considering an IPO for its mobile money unit, indicating the high stakes and intense competition within the sector.

Despite the remarkable success in its fintech ventures, MTN faced challenges in its core telecommunications business, with service revenue growth slowing to 6.8%.

Inflation and currency devaluation in key markets, particularly Nigeria, impacted profitability, highlighting the complexities of operating in diverse African markets.

As MTN continues to expand its fintech footprint and invest in infrastructure to enhance connectivity across the continent, it remains poised to capitalize on the immense potential of Africa’s digital economy.

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