Square Enix GIVES UP on PS5 Games?!
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Square Enix has announced a significant company reboot amid tumbling profits.
Reporting its financial performance for the financial year ending March 31, 2024, sales in the Digital Entertainment segment, which includes video games, rose by 2.6% but profit fell by 15.8%. This despite the sale of Final Fantasy 16, Final Fantasy Pixel Remaster, Foamstars, and Final Fantasy 7 Rebirth. Specifically on HD games, the subcategory Square Enix uses to encompass all the above games, the company saw a significant operating loss of ¥8.1 billion (approximately $51.9 million).
Final Fantasy 16 and Final Fantasy 7 Rebirth both launched as PlayStation 5 exclusives, and while Square Enix has announced a sales figure for Final Fantasy 16, it has yet to do so for Final Fantasy 7 Rebirth, the second game in the company’s trilogy of Final Fantasy 7 remakes. In its financial report, all Square Enix would say is it has suffered from an “incomplete journey to better profitability in HD game development”, and that it had “launched many titles but some failed to live up to profit expectations, especially outsourced titles and some AAA titles.” It seems likely Final Fantasy 7 Rebirth, at least, is included in that.
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