Today’s Skull and Bones delay was just the tip of the iceberg.
Ubisoft, the video game publisher, announced it is facing difficulties and has decided to cancel three unannounced projects to focus on its existing brands and live services. The company's CEO, Yves Guillemot, stated that the industry is shifting towards "mega-brands and long-lasting titles" and that the economic conditions are affecting consumer spending. The company has also been facing issues in getting its games out the door and has nothing to show for the seven projects it has cancelled this fiscal year. Additionally, Ubisoft has not been able to make the games it has already made.
Ubisoft's ongoing struggles have made it a potential target for acquisition. Despite successfully resisting a takeover bid by Vivendi in 2018 and the Guillemot family, which founded Ubisoft in 1986 and still holds a controlling stake, expressing their desire to remain independent, the company's share price has dropped significantly over the past five years, making it difficult to reject high-priced offers from companies like Tencent. Additionally, Ubisoft has recently faced allegations of sexual abuse and misconduct at various studios, and it is yet to fully address these issues. This is a major challenge for the company, as it not only needs to implement cost-cutting measures but also make significant changes in its ability to develop and release games and fend off potential acquirers.