Pete Hines (SVP Global Marketing & Communications, Bethesda Softworks) Discusses Bethesda's Purchase by Microsoft

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To say we have. Worked closely. With Microsoft, for pretty much my entire time at them, the FESDAY, it's a company we know well They were the ones who really gave us the incentive to change from just being a PC only developer which we were when I started back in ninety nine we we developed and made games only on the PC and decided to make the leap for a game called the eldest group elder scrolls, three more wind for the original xbox and honestly in in part because at their urging, hey, this this console could could handle could do the kind of games that you all make an RPG like yours. Could do pretty well on our system and that was sort of the early days of what has become no a two decade relationship between ourselves and a lot of folks over there who we very much like and respect to chief amongst them obviously being Phil, Spencer and. In terms of his vision how how he sees the the future of Microsoft how we fit in that future? and how this this acquisition can lead to. A future for for both of us, that is sort of win win win. In that we get support and resources that allow us to make even bigger and better games with their help. You know if I've I've worked with I've worked as a publisher who is a third party publisher and developers who have all had to be third party developers for very long time. The opportunity of join somebody and essentially be treated as a first party. Developer publisher is pretty darn appealing in terms of. Access to resources or the conversations you get to have not just in like what are you need to make the? Game better but like from console support standpoint from a systems level standpoint are there things you need us to do, and again we've been in this industry a long time, and so we hear the stories behind the scene about first party games. They get a certain features or special support from Sony or Microsoft Nintendo to lower a first party game to do something particular and you know you talked our developers that's pretty appealing I. Think it's Great for Microsoft as well because I think we bring a lot of additional pedigree to an already very strong lineup and stable of developers look I believe in walking softly and carrying a big stick but. I've been doing this for a long time like we're pretty good catch like we make a lot of really good games. We've made a lot of game of the year stuff and bestseller stuff and in a variety of different. Genres and if I step it, take my Bethesda hat off for a minute. were pretty good get and I, think we ultimately make them better as a company to be a part of what they're doing. And the other one is I think this will ultimately be a win for fans and for gamers because at the end of the day, the thing that we have always believed first and foremost is look making games as a pain in the ass it's hard. It's a lot of work over a lot of years on a lot of people. Spent big chunks of their lives working on these games, and we spent a lot of money making them, and at the end of the day, we want as many people as possible to be able to play what what it is. We make and Microsoft is very much in the same camp of we want to help you get your games to the widest audience possible which. Means that you people are going to be able to play our games you know all over the place you know not just on a specific console, not just on your PC, but what they do with X. God streaming, and now streaming being something that we as a company have looked into and worked on some some things there in terms of moving that forward as viable. Technology that you know. Sure. I'll I'll have people playing sky rim doom fallout fill in number here on his many devices as we can, and so at the end of the day I think it is a good cultural fit at think it's a good philosophical fit and I think it's a good fit where our strengths play welded their strengths and advisers. Yeah. So so just falling because there's another question was sort of desperate Ted to ask in S, which is so you said you know protest is a good gap ripe and totally agree I mean they're assuming credible brands in the portfolio that s to has, but also you guys weren't cheap. You know the acquisition is William. It's worth mentioning your benchmark right as we as a benchmark on the. Might might benchmarked requisitions is Star Wars Disney bought star wars that was like two billion dollars, right? That's kind of my benchmark. So I large acquisitions I value in multiple. Multiple. Star. Wars. Yeah. But then. Again, I mean three point, five star wars like that is a lot of. A lot of stars that's actually more star wars than actually art films, in stores, mainland. So Seriously, though like just. Valuation, obviously, you know Microsoft sophisticated buyer you know you guys must've deserved it. But where is that value coming from? Is it the IP juicy? The value in elder scrolls fall out things like that is at the studios in the talent is it something else like if Microsoft we're gonNA say there were seven billion dollars for X. Y. and Z. What are the buckets that value is getting created We'll. Certainly it's the things that you mentioned we we do have a lot of pretty strong IP's. Elder scrolls a massive brand for US fallout doom Wolfenstein. We've we've got a lot of stuff that has value and legacy right and not stuff that we just came up with five years ago right? Doom started and Wolfenstein started the popularity of were the existence of first person shooters a really long time ago so whether it's RPG's or first person shooters I do think we have very strong piece I also believe we have really good pedigree in our studios in terms of every studio that we have. That is part of our company that we've shipped a game with has won at least one game of the year award for what they've made a except for one developer and that's pretty impressive. When you talk about a whole wide variety of studios different locations, very different genres, actions you know first person send stuff, really bloody violent kill Nazi stuff kill demons post apocalyptic fantasy. We do a lot of different stuff. So I do think there's a lot of talent I also think that and I've I've heard Phil talk about this is he had a lot of respect for the fact that it's Not just that we have talent but that were willing to take chances and try and push things forward and break ground right? We didn't just participate in Vr like we were you know primary catalyst for VR

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