2023-09-14 05:20:00
Square Enix shares fell by 30%, resulting in a market value loss of almost US$2 billion (~R$9.84 million).
The Japanese company’s share price reached its peak this year following the launch of Final Fantasy XVI in June, but closed last Wednesday at its lowest value since May last year.
The sharp drop in shares comes shortly following sales of Final Fantasy XVI, exclusive to the PlayStation 5, did not meet the Japanese company’s high expectations. However, the game is not the only culprit.
Other high-budget titles like Marvel’s Avengers, which will end support this month, and Forspoken, the debut game from Square Enix’s Luminous Productions studio, also contributed to the negative results.
In a Bloomberg article analyzing Square Enix’s results, anonymous employees claim that the company is suffering from problems in its game development structure and quality control, demonstrating concern regarding the future.
Square Enix employees also claim that another cause of the problems faced by the company is the amount of freedom that some producers have in the scope of projects. According to them, the games do not have a structured team and adequate documentation.
Developer Michael Prefontaine says filling the market with unfinished, bad and untested games like Marvel’s Avengers, Forspoken and The DioField Chronicle is a bad idea, with Square Enix overloading itself with too many titles.
It is worth remembering that at the beginning of the month, Square Enix announced that the PC version of Final Fantasy XVI is in development, in addition to two paid expansions.
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