Sony has come to terms with the numbers and acknowledged that the Bungie acquisition hasn’t delivered as hoped, with Destiny 2 underperforming against internal forecasts.

While the spotlight was on Microsoft’s multibillion Activision Blizzard deal in the United States, Sony opened its wallet too and, just days later, closed its purchase of Bungie, creators of Halo and Destiny, with one promise: the studio would stay independent. Since 2023, a lot has changed, and lingering doubts about the team’s market traction and profitability have dogged Sony. In its latest financials, the company made it plain that the transaction hasn’t met expectations on the financial front.

At the results press conference, Lin Tao, Sony Group’s Chief Financial Officer, said industry shifts had dented Destiny 2’s performance and, by extension, Sony’s Bungie projections. According to Tao, “the level of sales and user engagement has not reached the expectations we had at the time of the Bungie acquisition.” The remark shows a more cautious stance toward the output of Sony’s live service portfolio.

There Was No Mention Of Destiny: Rising, Bungie’s Collaboration With NetEase

In this context, Sony recorded a partial impairment on Bungie’s assets. In plain terms, the company marked Bungie below its carrying value. When Sony acquired Bungie, it expected Destiny 2 to hit certain revenue thresholds, but actuals suggest the economic value of the game and related assets is lower. That doesn’t automatically mean a realized loss, but it does reduce the book value of Bungie and its operations.

Even so, Sony highlighted strong performances elsewhere across PlayStation Studios. Recent titles like Helldivers 2 – for which Sony owns the IP even though Arrowhead Game Studios is external – and MLB: The Show 25 have posted solid results, including on Xbox and PC.

Ghost Of Yotei Has Delivered Solid Sales

Stepping away from multiplayer, Tao concluded that despite the Bungie adjustment, Sony plans to strengthen its studios, expand its franchises, and apply lessons learned to keep improving. The executive also noted other bright spots: Sucker Punch’s Ghost of Yotei surpassed 3.3 million units in a month, positioning it well against its predecessor’s 5 million in four months.

Source: 3DJuegos