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It looks like things aren’t rosy for Ubisoft as the publisher released its latest earnings report, and there’s more bad news than good. For starters, three unannounced games were just officially announced before we even knew anything about them.
As part of its report, the publisher mentions that they are canceling three projects without notice, in addition to four already in July 2022:
Make sure all our energy is focused on building our brands and live services for some of the strongest in the industry. As a result, we have decided to cancel three unannounced projects, in addition to the four already announced in July 2022.
In addition to this, the company’s focus seems to be more on its major established brands going forward.
As part of our increased strategic focus, we have adapted our organization to a more challenging market, with a net reduction of our fixed cost base of more than €200 million over the next two years. This will be achieved through targeted restructuring, divestment of some core assets and normal natural attrition. Ubisoft will continue to look at hiring highly talented people for its biggest live brands and services.
Ubisoft founder and CEO Yves Guillemot aims for the company’s biggest brands to be a “global phenomenon” with a focus on live service and cites Rainbow Six Siege as one example.
The long-term prospects for the industry remain promising, and I am convinced that Ubisoft is well positioned to benefit from this momentum thanks to the strength of our teams, brands, manufacturing capacity, technology and balance sheet. Our back catalog remains very healthy with particularly strong activity on Rainbow Six Siege, great momentum for our Assassin’s Creed games, and generally solid performance from our live games. We expect our strategy to build long-term live games and transform our biggest brands into a truly global phenomenon with multiple offerings across platforms and business models, which will ultimately generate significant value creation, with strong top-line and operating profit growth in the coming years.” – Yves Guillemot, CEO of Ubisoft
For reference, the known Ubisoft games that have not been canceled and are due out sometime this year are: Assassin’s Creed Mirage, Avatar: Frontiers of Pandora, Skull & Bones. There’s also a Star Wars game being built by Ubisoft’s Massive studio, though we’re not sure when that will hit the market.
source: Ubisoft’s earnings report
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