I think it's a bunch of BS. They claim they lose money on Blizzcon, but they are making WAY more money on the games and products promoted at Blizzcon! They do not need to pull key people at Blizzard out of their jobs to set up Blizzcon, all they need is a special department to handle Blizzcon while the regular employees do their own things.
I thought Blizzcon was a "for the fans" yearly celebration of the game (..just as with other MMO Fan Fairs). Good job placing a taint upon that idea with your greed ridden excuses. But you appear to have the time energy and effort to put into hosting a Battle.net World Championship. Also you really couldn't tell that ActiBlizzard loses money on Blizzcon based on the ticket prices and sheer number of them sold. Lastly, with an expac coming out that has the community divided like never before, this is just a flat out BAD IDEA. Its a great way of adding fuel to the fire for portions of the player-base already pissed about Kung Fu Panda. Blizzard you're already hemorrhaging players in large numbers, why would you do this? Between MoP and this, 2012 looks to be the year of poor business choices for Actiblizzard.
To bad they aren't holding it. Most people will rage at this (people under me *cough*) but they ARE working on 4 different games atm i believe, and saying they want some extra time to put into those games isn't completely unreasonable. Blizzcon is a nice thing that they do for the fans, clearly. It's not a requirement. They did not even cancel it. They are still trying to atleast have a nice competition in it's place, and reintroducing it next year. Everyone needs to calm down and stop getting so butt-hurt about it, like they owe you something. Just be happy with what you get. (Lots of well developed game, and a big ass international tournament. yeah i know~ thats it? how selfish and pathetic. really shows their sleezy character.)
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Not having Blizzcon 2012 is a bad idea.