Ubisoft remains hopeful for Assassin’s Creed: Shadows despite further layoffs
Ubisoft recently unveiled its financial report for the nine months ending on December 31, 2024, which demonstrated a significant downturn for the renowned gaming company. Once celebrated for its blockbuster AAA titles, Ubisoft’s latest financial figures and stock value reflect a downward trajectory in its performance.
During the specified period, Ubisoft’s revenue amounted to €990 million ($1.07 billion USD), marking a substantial 31.4% decline compared to the previous year. Net bookings for the company also witnessed a stark 34.8% decrease, totaling €944 million ($1.02 billion USD), while digital net bookings experienced a decline of 33.8%, reaching €784 million ($850 million USD). Additionally, back-catalogue net bookings dropped by 27.7% to €762.3 million ($827 million USD).
Despite these unsettling figures, Ubisoft remains hopeful about its prospects for the upcoming quarter. The launch of Assassin’s Creed: Shadows on March 20 has garnered strong pre-sales, with Ubisoft’s Chief Financial Officer Frederick Duguet noting that these initial figures are on par with the successful release of Assassin’s Creed Odyssey, which ranks as the company’s second highest revenue-generating game after Valhalla, the first Assassin’s Creed installment to surpass $1 billion in revenue.
Ubisoft’s Co-Founder and CEO, Yves Guillemot, expressed optimism about the early reception of Assassin’s Creed: Shadows, citing positive reviews of its narrative depth, immersive gameplay, and innovative dual protagonist approach. Despite these positive indicators, Ubisoft has revealed plans for a strategic restructuring initiative, involving staff layoffs. The company has already shuttered two production studios and laid off nearly 300 employees as part of its cost-cutting measures.
Guillemot emphasized the necessity of these difficult decisions, noting that Ubisoft is on track to surpass its cost reduction targets before the end of FY25, ahead of schedule. The company intends to continue its restructuring efforts into FY26, surpassing the initial objectives by a considerable margin.
In conclusion, Ubisoft’s recent financial report paints a challenging picture for the company, with significant revenue declines and restructuring measures in place. However, the anticipation surrounding the release of Assassin’s Creed: Shadows and the positive feedback received thus far provide a glimmer of hope for Ubisoft’s future prospects in the gaming industry.
