{"id":35042,"date":"2023-09-13T18:00:20","date_gmt":"2023-09-13T17:00:20","guid":{"rendered":"https:\/\/www.xtremeservers.com\/blog\/square-enix-loses-nearly-2-billion-in-value-since-final-fantasy-16\/"},"modified":"2023-09-13T18:00:20","modified_gmt":"2023-09-13T17:00:20","slug":"square-enix-loses-nearly-2-billion-in-value-since-final-fantasy-16","status":"publish","type":"post","link":"https:\/\/www.xtremeservers.com\/blog\/square-enix-loses-nearly-2-billion-in-value-since-final-fantasy-16\/","title":{"rendered":"Square Enix Loses Nearly $2 Billion in Value Since Final Fantasy 16"},"content":{"rendered":"<div>\n<section class=\"article-page\">\n<p>Square Enix has lost nearly $2 billion in value since the launch of Final Fantasy 16 in June, and a new report has cast doubt on the company\u2019s ability to recover.<\/p>\n<section data-transform=\"mobile-ad-break\"><\/section>\n<p>Shares in the company have plummeted nearly 30% since Final Fantasy 16 came out on June 22, closing on September 13 at their lowest point since May last year.<\/p>\n<p>The PlayStation 5 exclusive <a href=\"https:\/\/www.ign.com\/articles\/final-fantasy-16-sold-3-million-copies-during-launch-week\"><u>sold three million copies during launch week<\/u><\/a>, a figure that sparked a debate online about whether it had met Square Enix\u2019s sales targets. Square Enix told <a href=\"https:\/\/www.ign.com\/articles\/square-enix-responds-to-final-fantasy-16-sales-concern-points-to-ps5-install-base\">IGN<\/a> in July sales of Final Fantasy 16 were \u201cextremely strong\u201d, and insisted the game had sold well relative to the PS5 install base.<\/p>\n<p>IGN sources familiar with the performance of Final Fantasy 16 confirmed sales had slowed considerably since launch but that the game was not yet considered a disaster. Earlier in September, Square Enix announced <a href=\"https:\/\/www.ign.com\/articles\/final-fantasy-16-is-getting-two-dlc-expansions-and-its-pc-port-is-officially-in-development\">Final Fantasy 16 is set for two paid DLC expansions<\/a>, and confirmed a PC port was officially in development.<\/p>\n<section data-transform=\"slideshow\" data-slug=\"final-fantasy-vii-rebirth-summer-game-fest-2023-trailer\" data-value=\"final-fantasy-vii-rebirth-summer-game-fest-2023-trailer\" data-type=\"slug\" data-caption=\"\"><\/section>\n<p>A new report from <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-09-13\/underwhelming-final-fantasy-xvi-costs-square-enix-2-billion-in-market-value\">Bloomberg<\/a> painted a bleak picture of Square Enix, which reported a sharp profit decline in August. Analysts told the publication that Final Fantasy 16 failed to make up for the poor performance of previous Square Enix flops, such as <a href=\"https:\/\/www.ign.com\/articles\/marvels-avengers-review-2\">Marvel\u2019s Avengers<\/a> and <a href=\"https:\/\/www.ign.com\/articles\/forspoken-review\">Forspoken<\/a>, and mobile games that were shut down soon after launch.<\/p>\n<p>The root of the problem, sources told Bloomberg, is that producers were given \u201cfull reign\u201d over the scope and direction of projects, whose goals can shift \u201cwithout warning\u201d. The upshot of this is volatility in the quality of the final product.<\/p>\n<p>Square Enix has a new CEO, Takashi Kiryu, who intends to reduce the number of smaller games in the works to focus on big-budget games that have a greater chance of making an impact on the company\u2019s bottom line. Square Enix declined to comment.<\/p>\n<p>Apparently there\u2019s a rebuild of development practices currently being worked through. One source close to Square Enix told IGN that Kiryu has called for change across the company globally, but that change will take time.<\/p>\n<p>Upcoming Square Enix games include <a href=\"https:\/\/www.ign.com\/games\/final-fantasy-vii-rebirth\">Final Fantasy 7 Rebirth<\/a>, <a href=\"https:\/\/www.ign.com\/games\/star-ocean-the-second-story-r\">Star Ocean: The Second Story R<\/a>, <a href=\"https:\/\/www.ign.com\/articles\/foamstars-is-splatoon-with-a-different-lick-of-paint\">Foamstars<\/a>, and <a href=\"https:\/\/www.ign.com\/articles\/dawntrail-officially-announced-as-final-fantasy-14s-fifth-major-expansion\">Final Fantasy 14 expansion Dawntrail<\/a>.<\/p>\n<section data-transform=\"divider\"><\/section>\n<p><em>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.<\/em><\/p>\n<\/section>\n<\/div>\n<p><a href=\"https:\/\/www.ign.com\/articles\/square-enix-loses-nearly-2-billion-in-value-since-final-fantasy-16\">Go to Source (IGN.com)<\/a><\/p>\n<p>All content and images belong to their respected owners. This article is aggregated for informational purposes only with full credit to the source.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Square Enix has lost nearly $2 billion in value since the launch of Final Fantasy 16 in June, and a new report has cast doubt on the company\u2019s ability to recover. Shares in the company have plummeted nearly 30% since Final Fantasy 16 came out on June 22, closing on September 13 at their lowest<\/p>\n","protected":false},"author":3,"featured_media":35043,"comment_status":"registered_only","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,9],"tags":[7456,408,86,410,3488,1744,830,30,15,904,407,9777],"class_list":["post-35042","post","type-post","status-publish","format-standard","has-post-thumbnail","category-pc","category-reviews","tag-billion","tag-enix","tag-fantasy","tag-final","tag-june","tag-lost","tag-nearly","tag-pc","tag-playstation","tag-since","tag-square","tag-value"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Square Enix Loses Nearly $2 Billion in Value Since Final Fantasy 16 | Xtreme Servers<\/title>\n<meta name=\"description\" content=\"View Square Enix Loses Nearly $2 Billion in Value Since Final Fantasy 16 for free, here on XtremeServers. 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