Nearly three years after its high-profile acquisition of Bungie, Sony has admitted that its $3.6 billion purchase has been a financial disaster thus far. Earlier today, Sony Group shared its financial results for the second quarter of FY2025, during which it made the admission above.
Sony has been widely criticized for its expensive purchase of Bungie
Sony blamed “changes in the competitive environment” among several factors for Destiny 2 failing to meet the expectations that it had set at the time of its purchase.
“Regarding Destiny 2, partially due to changes in the competitive environment, the level of sales and user engagement have not reached the expectations we had at the time of the acquisition of Bungie,” Sony said. “While we will continue to make improvements, we downwardly revised the business projection for the time being and recorded an impairment loss against a portion of the assets at Bungie.”
This comes as no surprise. Analysts and industry professionals have been questioning Sony’s decision to pay $3.6 billion for a studio that hasn’t released anything outside of the Destiny franchise, which has been in the doldrums for a while, since 2014.
Other highlights of Sony’s Q2 financial results are as follows:
- PlayStation monthly active users have increased to 119 million accounts
- Network services, including PS Plus, are steadily growing
- Helldivers 2 is doing “extremely well”
- Ghost of Yotei launch sales crossed 3.3 million copies sold, and MLB: The Show 25 continues to perform well
- PS5 sales have now crossed 84.2m units
The post Sony Finally Admits Bungie Acquisition Is a Financial Mess appeared first on PlayStation LifeStyle.
