Square Enix has admitted Final Fantasy 7 Rebirth, Final Fantasy 16, and Foamstars failed to meet its expectations.
In a financial call reported by Bloomberg, Square Enix president Takashi Kiryu told analysts that sales for all three games failed to hit expected revenue and profit, resulting in an overall hit to operating income for the business.
Square Enix announced launch sales of three million for Final Fantasy 16 after it went on sale in June 2023, but it has yet to announce a follow-up figure since. According to Bloomberg, while this initial momentum was in-line with expectations, sales have slowed.
It’s a worse story for Final Fantasy 7 Rebirth. Initial momentum failed to reach Square Enix’s target, Bloomberg said. Tellingly, Square Enix has yet to announce a sales figure for the game, the second in the company’s planned trilogy of Final fantasy 7 remakes.
As for Foamstars, Square Enix has yet to announce a sales figure for this live-service, Splatoon-like game. Bloomberg reported that Square Enix admitted it had fallen short of expectations.
On the bright side, Square Enix said it’s confident Final Fantasy 16 can achieve its goal over the original 18-month sales plan. And, according to Bloomberg reporter Takashi Mochizuki, Square Enix said sales of Rebirth and Foamstars “aren’t necessarily bad.”
Square Enix said:
-FF16 sales fell short of expectations. Initial momentum was in line with expectations, but the games failed to reach FY goal as its momentum slowed. No updates from sales number last announced at 3 million
-FF7 Rebirth sales fell short of expectations. Initial…— Takashi Mochizuki (@6d6f636869) May 14, 2024
This week, Square Enix announced a significant company reboot amid tumbling profits. Final Fantasy 16 and Final Fantasy 7 Rebirth both launched as PlayStation 5 exclusives, but Square Enix said it will now “aggressively pursue a multiplatform strategy that includes Nintendo platforms, PlayStation, Xbox, and PCs.”
Overall, it’s a tough time for Square Enix, which had already absorbed ¥22.1 billion (approx $140.9 million) in what it called “content abandonment losses” ahead of today’s financial report. Square Enix did not name the canceled or rescoped in-development titles. It has, however, made a number of layoffs across its western business amid extensive restructuring.
Looking ahead, Dawntrail, the expansion for ongoing MMO Final Fantasy 14, launches in late June. Square Enix also has Kingdom Hearts 4, the third game in the Final Fantasy remake trilogy, and Dragon Quest 12 in the works. In January, Final Fantasy 16 producer Naoki Yoshida said it might be time for a younger generation to lead the franchise and helm Final Fantasy 17.
Wesley is the UK News Editor for IGN. Find him on Twitter at @wyp100. You can reach Wesley at wesley_yinpoole@ign.com or confidentially at wyp100@proton.me.
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