Square Enix's Six-Month Financials Are Down, Thanks To FF7R Decline And Lackluster New Titles
Company released NFTs in October and is "contemplating robust entry into blockchain games."
Just a few days after announcing its six-month financials for the period ending on March 31, 2021, Square Enix let loose with another six-month report, this time covering the period from the end of that last report to September 30, 2021. Overall net sales for the half were slightly below the first half of last fiscal year, down from 172.7 billion yen to 168.9 billion yen ($1.52 to $1.49 billion).
Since the last report lauded Final Fantasy VII Remake for its strong performance, it shouldn't come as a surprise that the more recent one saw net sales and revenue decrease year-over-year due to that game being a year old and not as big of a factor. In fact, the company said it "Launched multiple new titles, but did not reach level seen last year, when we released major titles." Though not specifically named, Marvel's Avengers, Outriders, and Balan Wonderworld were probably all contributors to that lack of success.
On the MMORPG front, "recurring revenue was brisk" and "monthly paying subscribers for Final Fantasy XIV rose sharply YoY." That was likely due in part to the game's extensive free trial over the summer, which resulted in a lot of coverage from press and influencers. The next expansion, Endwalker, launches on the 23rd and should further drive revenue. Dragon Quest Online is also scheduled to receive an expansion on the 11th.
And if you were worried that Square Enix might miss out on the hottest new trend in gaming, have no fear! The company announced the initial release of Shi‐San‐Sei Million Arthur NFT digital cards on October 14, and following their success, "will transition to full commercialization phase" for the product. The company is also "contemplating robust entry into blockchain games," which should be great news for somebody, but probably not you or me.
About the Author
Jason Winter is a veteran gaming journalist, he brings a wide range of experience to MMOBomb, including two years with Beckett Media where he served as the editor of the leading gaming magazine Massive Online Gamer. He has also written professionally for several gaming websites.
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