Ubisoft took a major hit this week, announcing the cancellation of six unreleased titles, including a remake of the beloved classic, Prince of Persia: The Sands of Time, and shuttering several studios in a move that sent shockwaves through the gaming world. The news, confirmed by Ubisoft executives on Tuesday, comes as the company grapples with shifting market trends and a need to "streamline operations," according to a statement released by Chief Financial Officer Frederick Duguet.
The cancellation of the Prince of Persia remake is particularly stinging for fans who have been eagerly anticipating its arrival. Originally slated for release in January 2021, the game suffered multiple delays, with its development bouncing between studios in Montreal and Pune. This marks a significant fumble for a franchise that once dominated the action-adventure scene, drawing comparisons to the early 2000s when the original Sands of Time trilogy consistently scored in the high 80s and low 90s on Metacritic, a feat the remake was hoping to emulate. "We are disappointed to not be able to deliver the game that fans initially expected," Duguet stated, acknowledging the project's struggles.
Beyond Prince of Persia, the other cancelled titles, which remain largely undisclosed, represent a further scaling back of Ubisoft's ambitious development pipeline. This decision follows a period of mixed performance for the company, with recent releases like Assassin's Creed Valhalla achieving commercial success but failing to consistently garner critical acclaim. Industry analysts suggest that Ubisoft is attempting to refocus its resources on its core franchises and emerging technologies like blockchain gaming, despite the lukewarm reception of its initial foray into NFTs.
The studio closures, while not specified in terms of location or size, are expected to result in significant job losses. Ubisoft has not yet released official figures on the number of employees affected, but sources within the company indicate that the cuts will impact both development and support roles. This mirrors similar restructuring efforts seen at other major publishers, such as Electronic Arts and Activision Blizzard, as the industry navigates a period of consolidation and economic uncertainty.
Looking ahead, Ubisoft is pinning its hopes on upcoming releases like Assassin's Creed Mirage and Avatar: Frontiers of Pandora to revitalize its fortunes. The company is also doubling down on its live service games, such as Rainbow Six Siege and For Honor, aiming to cultivate long-term player engagement and revenue streams. However, the cancellation of these six titles and the closure of studios casts a shadow over Ubisoft's future, leaving many to wonder if the company can regain its former glory in an increasingly competitive landscape. The next earnings call will be closely watched for further details on Ubisoft's strategic direction and its plans to navigate these challenging times.
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