Despite the triumphant co branding collaboration, investors punished EA yesterday in after hours trading (shares down 14%) for missing earnings forecasts with a net loss of $17.03 million.
In tandem with the recent 2009 Nissan 370 Z media unveiling, video game partner Electronic Arts has also revealed a preview clip of the 370 Z in their latest Need for Speed Undercover release due in stores November 18 in North American and November 21 in Europe. The double debut marks the first time an auto manufacturer has partnered with a video game company for the world premiere reveal of a car.
“For the past 15 years, Need for Speed has helped define contemporary automotive culture by bridging the gap between gamers and the world’s hottest cars. As such, we are very excited to partner with one of the automotive powerhouses today to exclusively reveal the all-new Nissan ZÒ,” said Keith Munro, vice president of Marketing at Electronic Arts. “Need for Speed is about style, fast-paced action and power; this is definitely a car made for Need for Speed fans. Come November, they’ll be able to test drive the all-new 370Z in the game before the car is released on the market.”
“Our relationship with EA has been instrumental in bringing the Nissan brand to a passionate and unique audience,” says Christian Meunier, vice president, Nissan Marketing. “By launching the all-new 2009 Nissan ZÒ first through Need for Speed: Undercover, we also gain the spirit and energy that EA gamers experience so strongly. Together with EA, we have truly integrated the all-new 370Z in the overall game experience in a meaningful, multi-layered and profound way.”
Despite the triumphant co branding collaboration, investors punished EA yesterday in after hours trading (shares down 14%) for missing earnings forecasts with a net loss of $17.03 million. The larger than expected loss has led EA to reduce expenses by laying off 600 jobs (6% of workforce) saving the company $50 million.