Square Enix acknowledges disappointment with FFVII Rebirth and FFXVI
Square Enix has expressed its disappointment with the commercial performance of Final Fantasy 16 and Final Fantasy 7 Rebirth. These games didn't meet the company's expectations.
The financial report, released on September 18, 2024, revealed that Takashi Kiryu, President of Square Enix, acknowledged the underperformance. He stated that despite releasing major titles, the profits didn't meet their goals.
Challenges in the Gaming Sector
Kiryu admitted that the digital entertainment sector faces challenges. The recent big games failed to improve the situation. The company also struggled with internal scheduling, causing their games to overshadow each other.
Final Fantasy 16 launched in June 2023, followed by Final Fantasy 7 Rebirth in February 2024, both as PS5 exclusives. While Square Enix shared sales figures for FF16, they haven't done so for the second game in the FFVII remake trilogy.
Future Strategy
To regain profitability, Square Enix plans a significant overhaul. They will move away from exclusivity deals and adopt a multiplatform release strategy. This means future games will launch on PlayStation, PC, and potentially Xbox and Nintendo consoles.
- End exclusivity deals
- Adopt multiplatform releases
- Better manage game release schedules
Recently, Final Fantasy XVI was released on PC, reflecting this new approach. Square Enix aims to manage its game catalog better and plan releases more effectively over the next three years.
Other Struggling Titles
Final Fantasy isn't the only struggling franchise. Foamstars also flopped and is now free-to-play. Despite these setbacks, Square Enix has upcoming big titles like Kingdom Hearts 4, the final part of the FFVII Remake trilogy, and Dragon Quest 12.
For the next mainline Final Fantasy game, Naoki Yoshida, producer of FFVXI, mentioned it's time for a new generation to take over and develop Final Fantasy 17.
What's Next for Square Enix?
Square Enix will focus on:
- Releasing games on multiple platforms
- Improving internal scheduling
- Developing new titles with fresh perspectives
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Author: Streamers Visuals
