Square Enix at the moment is in big trouble after it has been reported that the company has lost $16 billion since they released Final Fantasy 16 on June 22nd, 2023.
This has now cast doubt on whether the company will be able to recover after such a huge loss within just a few short months.
The company’s shares have also plummeted by almost 30% since the release of Final Fantasy 16 closing on the 13th of September which is their lowest point since May of 2022.
With Final Fantasy 16 being released as a PlayStation 5 exclusive, within the first week, they sold three million copies and were addressing debates online that were saying they were not making the sales they needed by saying that the company, Square Enix had indeed hit their sales targets and that sales were extremely strong.
It would seem now we are seeing that Final Fantasy failed to make up for the previous flop releases that Square Enix had such as Marvel Avengers and Forspoken.
Seeing a profit decline in August, it is now apparent that Square Enix is now in a bit of a mess that may not be easy for them to get out of.
Square Enix now has a new CEO, Takashi Kiryu. It would seem that he intends to reduce the amount of smaller games that are developed by the company and instead focus on bigger budget games that stand more of a chance of making an impact.
Hopefully, we see them pull through this knockdown and we continue to see great games coming from Square Enix!