Sony is "Disappointed" with Destiny 2's Performance
In its latest earnings report, Sony revealed that it was not satisfied with the performance of Destiny 2, the popular online multiplayer game that was acquired by the company as part of a $3.6 billion deal in 2022.
According to the CEO of Sony's finance department, Tao Lin, the level of sales and user engagement for Destiny 2 did not meet the expectations that Sony had when it made the acquisition of Bungie, Inc., the game's developer. This has led to an impairment of around $204 million on the intangible assets related to Destiny 2, which represents a loss in value.
The impairment is not a direct result of money lost by Sony but rather reflects the fact that Destiny 2 did not meet the sales and engagement models that Sony had anticipated when it made the acquisition. This includes the value of the game's intellectual property, customer relationships, and existing assets.
When Sony acquired Bungie, it expected to leverage its expertise in running online games to expand PlayStation's live service offerings. While this strategy has led to successes such as Helldivers 2, a popular multiplayer game on PC, PlayStation, and Xbox, it has also resulted in catastrophic failures like Concord, which was pulled from digital stores just two weeks after its launch.
Sony's announcement suggests that the company does not believe it made a mistake by acquiring Bungie but is now putting pressure on the developer to perform better. The upcoming Star Wars-themed expansion, Renegades, could potentially bring back some of the mass appeal that Destiny 2 once enjoyed, but this will depend on how well Bungie addresses its recent setbacks.
One such setback is the delay in releasing an extraction shooter called Marathon, after it was revealed that a significant portion of the game used stolen assets. The developer has not announced a new release date for the game since then.
In summary, Sony's disappointment with Destiny 2's performance serves as a wake-up call for Bungie to step up its game and deliver more successful titles. With Renegades and Marathon both under development, it will be crucial to see how these games perform in the coming months.
In its latest earnings report, Sony revealed that it was not satisfied with the performance of Destiny 2, the popular online multiplayer game that was acquired by the company as part of a $3.6 billion deal in 2022.
According to the CEO of Sony's finance department, Tao Lin, the level of sales and user engagement for Destiny 2 did not meet the expectations that Sony had when it made the acquisition of Bungie, Inc., the game's developer. This has led to an impairment of around $204 million on the intangible assets related to Destiny 2, which represents a loss in value.
The impairment is not a direct result of money lost by Sony but rather reflects the fact that Destiny 2 did not meet the sales and engagement models that Sony had anticipated when it made the acquisition. This includes the value of the game's intellectual property, customer relationships, and existing assets.
When Sony acquired Bungie, it expected to leverage its expertise in running online games to expand PlayStation's live service offerings. While this strategy has led to successes such as Helldivers 2, a popular multiplayer game on PC, PlayStation, and Xbox, it has also resulted in catastrophic failures like Concord, which was pulled from digital stores just two weeks after its launch.
Sony's announcement suggests that the company does not believe it made a mistake by acquiring Bungie but is now putting pressure on the developer to perform better. The upcoming Star Wars-themed expansion, Renegades, could potentially bring back some of the mass appeal that Destiny 2 once enjoyed, but this will depend on how well Bungie addresses its recent setbacks.
One such setback is the delay in releasing an extraction shooter called Marathon, after it was revealed that a significant portion of the game used stolen assets. The developer has not announced a new release date for the game since then.
In summary, Sony's disappointment with Destiny 2's performance serves as a wake-up call for Bungie to step up its game and deliver more successful titles. With Renegades and Marathon both under development, it will be crucial to see how these games perform in the coming months.
, I was wandering around Shibuya Crossing and saw this huge queue for a ramen shop... anyway, back to Destiny 2 
... I mean, what's up with Bungie? They're like, super talented developers, but sometimes they just don't deliver, right? 
I've been playing Helldivers 2 on my PS5 and it's actually really fun, kinda like a co-op experience. But yeah, Sony needs to get some more pressure on Bungie to step up their game. Fingers crossed for Renegades! 
- I mean, who wouldn't want a $3.6 billion game? Interesting that they're putting pressure on Bungie now... maybe they just need some new talent or changes to their strategy 
they just spent 3.6 billion dollars on destiny 2 and now they're saying it's not meeting expectations? that's like buying a car and then being all sad because you can't afford to fill up the gas tank every week 
bungie's gonna have to step up their game if they wanna make this work, but honestly i kinda feel bad for them 
sony's just trying to get a return on investment or something 
, this is super tough on bungie devs 
they must be feeling like they let everyone down 
especially after investing so much time & money into destiny 2 
and it's not entirely on them that things didn't go as planned 
sony did invest a lot in bungie, but it's up to the devs to prove themselves again 
maybe renegades will be the game-changer they need 
and who knows, maybe they'll come out even stronger from this 
fingers crossed for them! 
. But let's be real, acquiring a massive game like Destiny 2 ain't easy. There are so many factors that can affect its performance, from server issues to player engagement. I mean, have you seen the community lately? Some people are still super passionate about the game, but others...not so much 
.
.
. But if they keep messing up like Marathon...not so much 
. Either way, I think Sony's right to be cautious and demand better performance from their acquired game