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Ubisoft CEO: "We're definitely disappointed with our performance"


SirMadsen

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In the past six months, Ubisoft has discontinued seven games. Most unknown but not all, such as Splinter Cell VR. On Wednesday, an emergency meeting was held with Ubisoft and investors, where closures and further Skull and Bones delays were agreed upon. Ubisoft CEO Yves Guillemot expresses disappointment. He highlights industry changes and the economic situation of the rest of the world.

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We are clearly disappointed by our recent performance. We are facing contrasted market dynamics as the industry continues to shift towards mega-brands and everlasting live games, in the context of worsening economic conditions affecting consumer spending.

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Ubisoft has reportedly spent the past four years adapting its major brands, Assassin's Creed, Far Cry, Ghost Recon, Rainbow Six and The Division , to keep up with industry changes.

However, they have not yet been able to reap the benefits, while new games have underperformed. For example, Mario + Rabbids Sparks of Hope did "significantly and surprisingly" worse than expected.

Changes await - unclear exactly which ones

In the next fiscal year (April 2023 through March 2024), it plans to release Assassin's Creed Mirage, Avatar: Frontiers of Pandora and "other yet-to-be-announced premium games, including a major, as well as promising free-to-play game that builds on some of our biggest brands".

Guillemot concludes with optimism. He believes Ubisoft can reverse the trend and that they have the ability. The board has also approved "additional strategic and operational decisions", for the good of the company.

However, it is unclear how these look concretely, but presumably money will be saved. The CEO also notes that older games, like Rainbow Six, continue to perform and the future looms.

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We expect our strategy to build long-lasting live games and transform our biggest brands into truly global phenomenon with multiple offerings across platforms and business models, to ultimately generate significant value creation, with strong topline and operating income growth over the coming years.

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