Square Enix: Final Fantasy VII Rebirth, Final Fantasy XVI, and Foamstars Sold Less Then Expected - News
by William D'Angelo , posted on 03 July 2024 / 4,366 Views
Square Enix president Takashi Kiryu told analysts Final Fantasy VII Rebirth, Final Fantasy XVI, and Foamstars all failed to meet revenue and profit expectations, according to Bloomberg.
Bloomberg's Takashi Mochizuki via Twitter reports Kiryu said initial sales for Final Fantasy XVI were in line with expectations, however, sales fell faster than expected and it fell short of the fiscal year goal.
Initial sales for Final Fantasy VII Rebirth fell short of expectations and the initial momentum did not reach an internal target set by Square Enix. Foamstars also fell short of expectations and the initial momentum did not reach an internal target.
Square Enix did not share sales figures for Final Fantasy VII Rebirth or Foamstars. However, the company is confident Final Fantasy XVI will be able to achieve its goal over the original 18 month sales plan. Also says Fantasy VII Rebirth and Foamstars sales aren't necessarily bad even though they sold less than expected.
Final Fantasy VII Rebirth, Final Fantasy XVI, and Foamstars all launched as PlayStation console exclusives.
Square Enix in its latest earnings report said it will be putting less focus on releasing exclusive titles and shift its strategy to release more multiplatform titles for Nintendo consoles, PlayStation, Xbox, and PC.
The company will also be laying off staff in its American and European divisions over the course of the next month, according to employees who attended an internal meeting.
It isn't known how many will be laid off, however, publishing, IT, and Square Enix's Collective indie games are where the majority of the layoffs will happen. Those laid off will be informed this week.
A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012 and taking over the hardware estimates in 2017. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.