If you follow gaming outside of the US, you’ll be fully aware of Tencent. Tencent is a Chinese conglomerate that has a percentage stake in many of the studios and games you are already aware of today. But, they are taking the next logical step and opening a studio in Los Angeles.
According to a report from Gamesindustry.biz, Tencent is opening “LightSpeed Studio” in LA to develop AAA, open-world titles for next-generation consoles. The studio will be headed by Steve Martin, a former Rockstar leader who had roles in the success of Grand Theft Auto 5 and Red Dead Redemption 2.
Martin will be both the studio head and executive producer of development. He issued the following statement:
“We’re ushering a new era of game culture by combining world-class development with a stress-free work environment,” Martin said. “From day one, our teams will be focused on building the highest caliber games while promoting integrity, proactivity, collaboration, and creativity.”
While this will likely take some time to develop, the fact that Tencent is moving directly into the US with a major studio should be a wake up call to companies like Activision and Electronic Arts. More competition is on the horizon. As usual, we hope that players are the ones to benefit.