LogInThe company will focus on its big projects.
Image credit: Square Enix
Square Enix has allegedly lost almost $2 billion in value since Final Fantasy 16. While it sold 3 million copies the first week after launch and Square Enix said its sales were "extremely strong", a report last month stated the game didn't meet the high end of the company’s expectations.
The recent information from Bloomberg seems to confirm the fact: Square Enix's stock has lost around 30% from its peak this year and on September 13 was moving to its lowest since May last year.
Image credit: Square Enix
Final Fantasy's sales are not the only problem for the company. There are also Marvel's Avengers and Forspoken, both of which were met not very warmly. Square Enix also has a bunch of smaller mobile games that don't get much recognition.
Bloomberg's sources say the problem lies in producers who are "given full reign over the scope and direction of projects" and a shortage of documentation and team structure.
The new CEO, Takashi Kiryu, is reportedly going to reduce the number of smaller titles in the company's portfolio and focus on big-budget games. Additionally, he is overhauling how producers are assigned, but the change will take time.
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