A new report has revealed that Square Enix has lost billions of dollars since the launch of Final Fantasy 16.
According to a report from Bloomberg, Square Enix has lost nearly $2 billion in value since the launch of their big hit Final Fantasy 16 back in June 2023. Some individuals have now casted doubt on the company’s ability to recover.
The company’s shares have now plummeted to nearly 30 percent since June 22, 2023 closing on September 13, 2023 at their lowest point since May 2022.
FF16 did sell three million copies during its launch week, but this has become controversial and made the community doubt if this number has actually met Square Enix’s sales targets. Based on this new report, it seems it has not reached at all. Some have confirmed that the game’s sales had now slowed down considerably since launch, but it was not considered a disaster. Still, it has created losses.
Bloomberg thinks Square Enix has a bleak future due to these losses. Analysts think that the game has failed to make up for the poor performance of previous Square Enix failures like the controversial Marvel’s Avengers and Forspoken. There were also some mobile games that got shut down soon after launch.
The media outlet’s sources claim that the root of the problem is that the producers were given “full reign” over the scope and direction of projects. The worst part of it all is that their goals can shift “without warning”.
Would the creators of Final Fantasy get back on its feet in their upcoming new titles like Final Fantasy VII: Rebirth? Who knows, but they will have big shoes to fill, unfortunately.