Sony Spends $3.6 Billion on Destiny 2 with Underwhelming Results
The financial health of Sony's gaming division took a hit during its latest earnings report, as the company acknowledged that its $3.6 billion acquisition of Bungie Inc., the developer behind popular online shooter Destiny 2, has not delivered expected sales and user engagement numbers.
According to Sony's Chief Financial Officer Tao Lin, changes in the competitive gaming landscape have contributed to a shortfall in the popularity of Destiny 2, which has led to a significant impairment on the value of Bungie's intangible assets. The impairment represents a decrease in the value of the game's intellectual property and customer relationships, rather than an outright loss.
Sony's investment in Bungie was supposed to bolster PlayStation's live service offerings, but the experience so far has been mixed. While games like Helldivers 2 have achieved success, others, such as Concord, have flopped spectacularly after a brief launch on digital stores. The company's decision to take firmer control of Bungie is now being put to the test.
Bungie is currently working on a Star Wars-themed expansion for Destiny 2, dubbed Renegades, which could potentially attract new players and revive interest in the game. However, another project - an extraction shooter called Marathon - has been delayed indefinitely after it was discovered that the game had used stolen assets. The fate of this title will likely be closely tied to Destiny 2's long-term prospects.
As a result, Bungie now faces significant pressure to deliver its next big hit and justify Sony's investment in the studio.
The financial health of Sony's gaming division took a hit during its latest earnings report, as the company acknowledged that its $3.6 billion acquisition of Bungie Inc., the developer behind popular online shooter Destiny 2, has not delivered expected sales and user engagement numbers.
According to Sony's Chief Financial Officer Tao Lin, changes in the competitive gaming landscape have contributed to a shortfall in the popularity of Destiny 2, which has led to a significant impairment on the value of Bungie's intangible assets. The impairment represents a decrease in the value of the game's intellectual property and customer relationships, rather than an outright loss.
Sony's investment in Bungie was supposed to bolster PlayStation's live service offerings, but the experience so far has been mixed. While games like Helldivers 2 have achieved success, others, such as Concord, have flopped spectacularly after a brief launch on digital stores. The company's decision to take firmer control of Bungie is now being put to the test.
Bungie is currently working on a Star Wars-themed expansion for Destiny 2, dubbed Renegades, which could potentially attract new players and revive interest in the game. However, another project - an extraction shooter called Marathon - has been delayed indefinitely after it was discovered that the game had used stolen assets. The fate of this title will likely be closely tied to Destiny 2's long-term prospects.
As a result, Bungie now faces significant pressure to deliver its next big hit and justify Sony's investment in the studio.
i dont get why they wouldnt just stop investing in bungie now lol they need to think about their money 
not all these games are gonna save them, marathon shooter with stolen assets? what a waste of time... and sony is gonna stick with destiny 2 till it's good or bad, that's the plan 
! $3.6 billion is a HUGE investment for Sony and it's not delivering the expected results 
. I mean, I love Destiny 2 as much as the next gamer but underwhelming results just isn't what Sony was hoping for 
. The mixed bag of games they've released so far hasn't exactly filled me with confidence either... Helldivers 2 is a cool game and all but Concord? 
Yeah no thanks! 
. Bungie's got some big shoes to fill now though, they need to deliver something amazing or else Sony might re-evaluate their investment 
I need some concrete numbers on what was expected to happen with Destiny 2 before Sony got involved. Where are those projections? 
. And don't even get me started on the lack of clear navigation menus... it's like trying to find your way out of a maze 
. I think Sony needs to take a step back and re-evaluate their approach to game development, maybe bring in some fresh blood or new talent to shake things up 
.
. "The truth is rarely pure and never simple" – Oscar Wilde. It looks like they're reaping what they've sown, trying to make Bungie's troubled games shine on PlayStation instead of PC. The question now is can they turn things around with the upcoming Star Wars expansion or will it be too little, too late? 
did u no sony spent like $3.6 billion on destiny 2 and it still not killin it 
cant wait 2 c how bungie handles this situation tho 
gotta see them bring their a game lol 
. The thing is, the new Star Wars-themed expansion could be a total game-changer (pun intended 
) for the series. But on the other hand, that extraction shooter Marathon is like, what even happened there? Using stolen assets? That's just shady 
. The pressure on the studio is real and I'm curious to see how they respond to this setback. Hopefully, Destiny 2 can bounce back and prove all the haters wrong 
. But now, it seems like things might not be as rosy as we thought 
.
. A Star Wars-themed expansion for Destiny 2 could be a game-changer (pun intended 
), but they gotta make sure those assets aren't reused elsewhere 
. And what's up with Marathon? Delaying it indefinitely is like, super sketchy 
. Can we trust Bungie to deliver their next big hit? We'll have to wait and see 
. It's just that the market has changed a lot since then, and I guess they didn't anticipate that change as well as they thought they did 
. Bungie's still got some great talent behind them, but maybe they need to think outside the box more when it comes to new game ideas. The whole stolen assets thing with Marathon is a huge red flag though... can't have games like that slipping through the cracks 
I know Sony is trying to branch out into live services and all but come on $3.6 billion?! That's just crazy talk! 
) if they wanna make Sony happy again. And yeah, the Star Wars expansion is a great idea, but what about all those people who just lost interest in Destiny 2? Can't we get some actual answers on what went wrong? 
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️ they need a new game that's gonna blow people away 
star wars renegades might have some potential, but marathon? cancelled 
i'm calling it now 
bungie needs to get their act together or sony is gonna regret this investment 