Square Enix reportedly cancels titles, FF7 Rebirth sales underwhelm
Square Enix seems like it's been on top of things recently, especially when it comes to Final Fantasy. Fans have been in love with the company's recent output, keeping Final Fantasy 14 online, offering a medieval adventure in 16, and showing them the return of Cloud Strife in Final Fantasy 7 Rebirth.
Players have been hooked on all things Final Fantasy, but new reports suggest that there might not be enough of them to match up to the publisher's grand plans for the IP.
New reports indicate Square Enix is dropping huge projects
Click to enlargeA new document claims that Square Enix has axed a collection of its ongoing projects in hopes of streamlining its development and process, which has created considerable losses for the company. The Financial Accounting Standards Foundation (FASF) states that the company's approach to creating games has been changed and will face some big financial hits.
"As a result of a close examination of the Group’s development pipeline undertaken in keeping with this revised approach," the statement reads, "The company expects to recognize approximately ¥22.1 billion in content abandonment losses on its books for the fiscal year ended March 2024." That equates to roughly $140 million.
It's a huge loss to make just for the name of streamlining development at Square Enix - but as new reports rear their heads, fans think they've tracked down one of the culprits that has led to the gaming giant making such a change.
Final Fantasy 7 Rebirth is reportedly a financial flop
Click to enlargeA now-deleted claim by Matt Piscaletta on X (formerly Twitter) has left fans thinking that one major company has been struggling financially in the face of a recent launch from a "famous RPG franchise," with a full report set for May 1.
Players expect the company to be Square Enix and the game creating the struggle to be Final Fantasy 7 Rebirth. This comes as a few analysts have claimed that the game didn't perform in terms of sales, and though we've had no confirmation of this, things look a little rough.
If there's any truth to these claims, it isn't a good look for Square Enix, especially as Cloud Strife's rebooted adventure was expected to be a huge hitter for the company. Confirmation is still waiting in the wings, but as of right now, there are plenty of whispers in Final Fantasy circles.
