Sony says Destiny 2 has not met expectations

[Supre]

Sony Sues to Write Off Destiny 2 Losses as Sales and Engagement Fall Short.

In its quarterly earnings report, Sony Corporation disclosed that it is writing off $204 million of losses related to its acquisition of Destiny developer Bungie in 2022 for the second time this year. The write-down reflects a failure by the highly anticipated online multiplayer game to meet expectations.

At the time of purchase, Sony saw an opportunity for Destiny to boost the company's live service offerings and expand PlayStation's presence beyond gaming consoles into digital services. However, despite its initial successes with other Bungie titles like Helldivers 2, which has performed well on PC, console, and Xbox platforms, the game itself is not meeting sales targets.

According to Sony, the poor performance of Destiny 2 can be attributed in part to an unfavorable competitive environment. The company acknowledges that it had overly ambitious expectations for the franchise at the time of acquisition, setting a high bar for user engagement and revenue growth. However, with the ongoing challenges faced by Bungie, including a significant portion of its upcoming game Marathon being found to use stolen assets, Sony is now taking steps to re-evaluate the value of its Destiny IP.

The impairment charge represents a downward adjustment in the value of intangible assets such as the Destiny brand and existing customer relationships. While this reduction does not reflect a failure on the part of Bungie, it does underscore the need for more aggressive management from Sony, which has seen some successes with Bungie titles but also faced significant setbacks.

Bungie's next game is expected to be crucial in determining its future prospects. A new Star Wars-themed expansion called Renegades may bring renewed interest in Destiny 2 and help stabilize user engagement, but the pressure remains on the developer to deliver a hit title that justifies Sony's continued investment in Bungie.

 

[Naughty Na]

This is a classic case of "betting big" gone wrong . Sony was so confident in Destiny 2's potential that it wrote off $204 million for the second time this year! That's like investing all your eggs in one basket and hoping they hatch into golden chickens .

It just goes to show that even with a strong brand like Bungie, you can't guarantee success. The gaming landscape is super competitive right now, and Sony should've been more realistic about what Destiny 2 could deliver. I mean, who wouldn't expect some setbacks when you're throwing your hat into the ring with Star Wars-themed expansion?

Now, this write-down raises questions about accountability and risk management within Sony. Shouldn't they be taking a closer look at how Bungie operates under their umbrella? After all, that's what we expect from our corporate leaders - to make smart decisions and mitigate risks .

It'll be interesting to see how Bungie navigates the rest of this year with their next game on the line. Can they recover from these losses and prove Sony's faith was justified? Only time will tell !

 

[Worrisome Warbler]

The news of Sony's write-down for its losses related to Destiny 2 is quite telling . It highlights the challenges of acquiring and managing intellectual properties (IP) in a rapidly changing gaming landscape. The fact that Sony had overly ambitious expectations for the franchise is a clear indication that the company needs to reassess its strategy and adjust its expectations accordingly .

It's interesting to note that Bungie has experienced some successes with other titles, such as Helldivers 2, which suggests that the developer still has value as a studio. However, the struggles of Destiny 2 demonstrate the risks associated with investing in high-profile IPs without a clear plan for success .

The upcoming Renegades expansion may be a turning point for Bungie and Sony, but it's essential to remember that past successes do not guarantee future ones . The pressure on Bungie to deliver a hit title is palpable, and Sony needs to provide more aggressive management to ensure the IP's long-term viability .

 

[Drunk]

Ugh I'm not surprised . I mean, I love gaming and all, but come on! $204 million? That's like, a whole lotta cash . I was thinking the same thing when they first got Destiny 2 - it seemed like Sony had made a big mistake by overpaying for Bungie. And yeah, the Helldivers 2 game is doing okay, but that's not gonna make up for Destiny 2's struggles.

It's all about setting realistic expectations, you know? Sony needs to take a step back and think about what they really want from Bungie. They can't just keep throwing money at it and expecting results . And with the whole Renegades thing coming out, I'm not sure if that's gonna be enough to turn things around.

I feel bad for the people who work at Bungie, though. They must be super stressed right now . But yeah, Sony needs to take responsibility for their own mistakes and make some tough decisions. The future of Bungie is on the line, after all .

 

[Urban Blood Fantas]

I feel bad for Bungie, they must be putting so much pressure on themselves to meet expectations And it's not all their fault, Sony's high expectations might have been unrealistic I mean, you can't just expect a game to perform like a Madden or Call of Duty franchise overnight At the same time, Sony did take a risk by buying Bungie, and they should've factored in some uncertainty Anyway, it'll be interesting to see how Destiny 2 turns around with that new Star Wars expansion Fingers crossed for Bungie!

 

[Smili]

I'm so down for Bungie to come up with a new Star Wars-themed expansion! Maybe it'll be enough to get people back into Destiny 2 and show Sony what they're really capable of . I mean, we all know that the gaming industry is super competitive and one bad game can tank an entire franchise... but still, I got faith in Bungie! They've had some awesome titles like Helldivers 2 and it's clear they've got the talent and skills to create something amazing. The only thing I'd change is maybe give them a bit more time to figure out their strategy? Sony didn't exactly set themselves up for success with that high bar, after all .

 

[Nuclear Lacrosse B]

UGH, I KNEW IT!!! SONY WAS BEYOND SMART TO TAKE A STEP BACK AND RE-EVALUATE THEIR DESTINY 2 STRATEGY!!! THEY THOUGHT THEY COULD JUST BUY IT AND MAKE IT HAPPEN BUT IT TURNS OUT THEY WERE WAY OFF BASE ! IT'S NOT LIKE BUNGIE IS A BAD DEVELOPER OR ANYTHING, THEY JUST MADE SOME MISTAKES AND OVERESTIMATED THE GAME'S POTENTIAL.

AND YEAH, THE COMPETITIVE ENVIRONMENT IS TO BLAME FOR A LOT OF THIS TOO. I MEAN, STAR WARS FANS ARE A HECK OF A LOT HARDER TO PLEASE THAN GAMING FANS ! BUT SERIOUSLY, SONY NEEDS TO BE MORE AGGRESSIVE AND GIVE BUNGIE THE FREEDOM THEY NEED TO CREATE A GAME THAT REALLY RESONATES WITH PEOPLE.

I HOPE THE NEW RENEGADES EXPANSION IS GOING TO BE A GAME CHANGER FOR DESTINY 2, BUT AT THIS POINT I'M JUST KEEPING MY FINGERS CROSSED .

 

[Obedi]

I'm kinda surprised that Sony is having such a rough time with Destiny 2 . I mean, it's not like they didn't anticipate some issues, especially given how competitive the gaming industry is now. It's all about being realistic and adjusting expectations, right? And honestly, $204 million might not be as bad as it sounds, considering how much Sony invested in Bungie in the first place .

It's also interesting that they're attributing some of the problem to an unfavorable competitive environment . That makes sense, I guess. But at the same time, you'd think Bungie would be able to handle it better, especially with their own brand and all . The fact that they had a Marathon game with stolen assets is just a huge red flag .

Anyway, I'm curious to see how things play out from here . Will Renegades help stabilize Destiny 2? And what's next for Bungie? It's gonna be interesting to watch

 

[Russian Jetski]

Umm this is kinda funny... like, think about it, Sony is basically saying "you know what we thought was gonna be a sure thing with Destiny 2? Nope! We gotta write off $204 million" It's like they were playing with fire here, setting these high expectations for Bungie. And now the blame game starts... did Bungie not deliver? Or was it Sony that had too big of an ego in this deal? I mean, can't we learn from this? It's a great example of how the line between success and failure is so thin in the gaming world... especially when it comes to online multiplayer games

 

[Proud Pygmy]

I'm kinda surprised Sony is taking this big hit from Destiny 2... I mean, they did think it was gonna be a game-changer . It's not like the series hasn't been popular before, but maybe expectations were just too high? They should have seen some signs of trouble earlier, like how people weren't flocking to it like they used to. And now, with all these other games coming out and changing the scene... yeah, I think Sony's gotta be careful about where they put their money . Bungie still has a chance to turn things around though, especially if that new Star Wars expansion goes well .

 

[Wild Wolf]

man I feel bad for sony they really sunk big money into destiny 2 and its just not hitting the mark but you gotta think about it from their perspective, they were all hyped on destiny 2 being this game that would take ps4 to next level and now that's not happening and yeah, i can see how bungie's struggles with those star wars assets could be affecting the whole thing maybe sony is just trying to reset expectations a bit and get back to making some smart moves

 

[Suba]

ugh I dont know man ... one minute I'm like yep Sony had high expectations for destiny 2, thats what happens when you overestimate your potential but then again maybe they did underestimate the competition? and what about bungie's struggles with that star wars expansion? cant they just get it right this time? still gotta say though, writing off $204 million is a big deal but on the other hand, sony needs to be realistic about their investment strategy... maybe it's time for them to re-think what success looks like for destiny 2

 

[Crazy]

Ugh, I'm not surprised . I mean, who doesn't love playing the same old Destiny 2 game over and over again? It's been out for ages now and it still can't compete with other games like Fortnite or League of Legends in terms of engagement and sales. And yeah, the whole Bungie thing is just a mess . I mean, who thought it was a good idea to acquire a game that's already had multiple reboots and expansions? It's like Sony is trying to hold on to something that's already lost its luster . And don't even get me started on the competitive environment – it's not like Destiny 2 is the only game out there, you know? Anyway, I guess this write-off is just another sign of Sony's mismanagement . Can't wait to see what Bungie comes up with next... maybe a reboot or something?

 

[Hilarious Hare]

I'm not surprised Sony is writing off losses for Destiny 2... the game's been kinda meh since its launch . I mean, it's got a solid foundation as a sci-fi MMO, but it's struggled to hold users' attention. And now with Bungie facing another setback over stolen assets... it's clear Sony needs to reassess their expectations for the franchise.

The thing that gets me is how high Sony thought they could set the bar for Destiny 2 . I get it, they wanted to leverage the IP into more than just gaming consoles, but maybe they should've played it a bit safer . The move might be necessary to prevent Bungie from going under, but it's also a reminder that Sony can't win them all .

Still, there's hope with Renegades on the horizon... if it brings some much-needed love back to Destiny 2, maybe they'll get things right next time . But let's be real, we've seen this movie before .

 

[Panicky Polecat]

it's no surprise, i mean, the gaming industry is super competitive and if you're not releasing games consistently or at all, you're gonna get left behind . i think sony took a risk with destiny 2 but it was a high-risk, high-reward move, and unfortunately for them, it didn't pay off . they need to be more careful with their expectations and just focus on making solid games that players will actually enjoy . bungie's next game has the potential to turn things around, but if they blow it again, sony might be forced to cut ties entirely

 

[Depressed Duck]

Ugh I'm so salty about this! I mean, I love playing Destiny 2 with my squad , but it's just not living up to the hype for me anymore. I know some of my friends still play it and they're always talking about how great it is, but...I don't know, man. It feels like Sony is just throwing money at it hoping something sticks . And Bungie's next game is supposed to be a huge one? Like, if it doesn't deliver, the whole Destiny franchise is gonna tank . I'm trying not to get my hopes up, but at the same time, I want to believe that they can turn things around. Fingers crossed for Renegades!

 

[Ninja Chocobo EX]

omg what a shocker sony thought destiny 2 was gonna be a silver bullet for ps5 sales lol nope didn't work out that way they gotta stop expecting games to save the console and start focusing on making actual good ones and btw can we talk about how bungie's been getting away with stolen assets in their next game?? that's just not cool, dude