Sony admits Destiny 2 hasn't met its expectations since the $3.6 billion Bungie acquisition
Sony admits Destiny 2 hasn't met its expectations since the $3.6 billion Bungie acquisition. The company's Chief Financial Officer (CFO), Lin Tao, confirmed that sales and player engagement for Destiny 2 have been lower than anticipated when Bungie was acquired.
Sony's latest earnings report revealed a drop in profit for its gaming division. This loss is mainly due to "impairment losses" against some of Bungie's assets tied to Destiny 2. Essentially, Sony had to write down the value of its investment because Destiny 2 isn't performing as well as hoped.
CFO Lin Tao explained that "changes in the competitive environment" are partly to blame for Destiny 2 not reaching expected sales and user activity levels. She added that while improvements will be made, Sony has lowered its future business predictions for the game, leading to the recorded loss.
Despite this, Tao noted that Sony's live-service games overall are doing well, accounting for over 40 percent of its first-party software revenue. She highlighted the success of games like Helldivers 2 and MLB: The Show 25, including their releases on Xbox.
Destiny 2 has seen a significant drop in player numbers recently, raising concerns about its long-term future. Finding consistent success with live-service titles continues to be a major challenge in the gaming industry.
In other news from the earnings report, the PlayStation 5 has now shipped over 84.2 million units. Also, Ghost of Yotei sold more than 3.3 million copies in its first month.
