The next big one after Valhalla (2020) is going to be Red (2024-2025).
In the middle they'll release Mirage, which is going to be a shorter game, like the old ones made as a bridge because the Infinity project was taking too long. Hexe was announced to mention that Infinity will include multiple games.
They stomped with ACIII, and then decided they were going to have 3 separate teams working each one in a game, to be able to work on 3 main AC games at the same time to allow devs to have more development time.
Yeah, and the result was a string of interchangable games, with deliberately confusing names, that left no impression on the audience and decreased in sales each year. They had to rework the series into the Egypt one (Origins?) for a reason.
Yes, the stock price was affected while ago due to some controversies appearing at the same time some people important enough to affect stock prices wanted to acquire big game publishers, just as happened with Activision.
The difference was that Ubisoft didn't want to sell and secured their ass with the help of Tencent. But after that covid happened, caused some delays or cancellations, some game underperformed and made visible that Ubi had to cut some fat because wasn't as productive as others of the same size, so had to cancel more stuff to cut the fat. And well, a handful projects got delayed by themselves and a handful more underperformed.
Your timeline is all messed up, the various allegations happened years ago while the Tencent purchase happened only a few months back, long after their stock should have recovered. We don't really know what was cut, or even at which studios, so I haven't mentioned it. But the need to cut is a clear sign of mis-management and the fact that they haven't cut costs (headcount) but have cut future output is, well, its not a sign of great management. Perhaps better than letting doomed projects continue on out of pride, but if they were so doomed, why were they all so far along in development in the first place? Did they mis-read the industry? Were they all GaaS? or Fortnite clones? Lol were they all autochess or Marvel IPs?
Now, they made the required adjustments and soon will go back to release big performing games so everything willl go back to normal, and this is why its price has been recovering in the recent months.
The price is a dead cat bounce, the company lost three fourths of its value (and I'm cutting you slack here, if you go from their maximum price to the minimum a few months ago they actually lost four fifths of the value,) regaining ten percent of that doesn't mean they are bouncing back. And it certainly doesn't mean they are one of the best run companies in the business when literally all of their analogs have increased in value -even the one that actually had lawsuits filed against it by government agencies-. And yeah, yeah, they sold to Microsoft. They also declined in value much less than Ubisoft did prior to the sale announcement. AND they launched Warzone. What has Ubisoft launched in that time? It certainly wasn't BGE II, Skull and Bones or the Prince of Persia remaster.
You told me they were "one of the best performing companies in the industry out of hundreds of thousands of companies. Not poorly run." Then when called out on them nearly becoming a junk stock you blame it on the scandal. And yes, it is a scandal. As a poorly run company the studio execs held corporate meetings at strip clubs among any number of other ridiculous things. That isn't why their value tanked though, or if it was they would have recovered by now, that happened because their headcount is twice that of EA or Activision and yet their revenues are only half.
Not true at all. Ubisoft has over 40 studios all around the world and specially in the not top tier countries workers have above average working conditions for the industry in their countries, which at the same time has better conditions than the average people there.
I actually keep a relatively up-to-date spreadsheet of what each company owns. And yeah, their studio list is massive. They have more 50+ headcount studios which have either "N/A" or "???" under the "current project" column than you can shake a stick out. The difference is that you seem to think this is a good thing. Its not, its bad.
Obviously, like in any company some of them are the top studios, then other ones are important and then there are minor support ones. And like any big company, they look for the most attractive tax friendly stuff: this is why most of the biggest western studios are in Canada, because years ago they offered great deals to studios who moved there. Or why many western global corporations are supposedly set in Ireland or similar, and so on.
Yeah, most global players have a support studio in Montreal where they, I suppose, import cobble.jpg into other studios' games. And Ubisoft struck paydirt when they became the first pioneers of that Montreal space back in the 90s. But the difference is that Ubisoft has based their company on building out trash-palaces in tax havens and having them tackle AAA projects, while their competitors only use them for background tasks. And what are the results? Very little. Quebec had one of the bad post-3 AC games, Immortals (which I thought was generic as all get out aside from the funny narration) and is now on Red, which I can only assume will be as devoid of creativity as the previous two. And thats the good example, the one that actually moved on to leading projects without having to back-source them to Paris or Montreal due to quality lapses. Singapore has had one project in dev hell for a decade (but more on
that later,) Bordeaux and Sagenuey (new studios, set up like the others) are dead weights with no hope in sight, the two UK studios (one in the infamous subsidy-hole of Leamington Spa) have had "TBA project" next to their name since I started making the chart a few years ago, then a big long list of studios that are "support" and have never led anything. Just as a counter-example, WB Games has only one single support studio (Telltale Fusion) listed on their chart. Everyone else there actually makes and releases their own projects. There isn't a single dev-hell project on there with the possible exception of Suicide Squad (which looks like it progressed smoothly in development, just with the end result being an unpleasant game.) There's nothing wrong with owning or working with support studios. But when the support teams out-number the real ones three to one you have to wonder how they are still around. Oh, and just one last aside-my chart isn't entirely up to date and still lists S&B as coming out on March 9th of this year. One of its many former release dates, I can only assume.
It was a very difficult project because it was a AAA game, something very difficult that was a new IP, something more difficult, leaded by unexperienced studio, so even more difficult, making a very different and unique game concept, something even more difficult, and was a concept which got outdated due to market shifts twice so had to be restarted twice because didn't convince them.
Those are lazy excuses or ones that stopped being relevant a long time ago. The project got greenlit in the first place because gamers responded to the AC III naval combat so positively. The reboots were entirely unnecessary and a result of poor leadership from company heads, not Ubisoft Singapore itself. The fact that they've consistently been unable to deliver on that vision, though, that is their fault. They aren't a new studio, they've been around since 2008. They'll be old enough to drive next year. If they stayed the course on their first pitch the game would have come out already and its sequel probably as well.
But they aren't the only devs stuck in hell. Lets talk instead about the so called "longest dev hell in game development history", which I am iffy on believing but its not good in any case. The original BG&E was a mid-sized release with some dedicated fans but not exactly the most beloved PS2 era game of all time. I can't comment on the pre-E3 trailer plans for the game, as they have never been publicly available. But that E3 trailer, you know, the one from 6 years ago that everyone hated? The one that was apparently smoke and mirrors with development only starting in 2021 or 2? Yeah, what was up with that? What was the Ubisoft Montpellier team doing for those three years of pre-production? Poor management. Why is Ubisoft putting so much money into an IP that did not, in its one actual release almost 20 years ago, sell or review particularly well? Why is a prestige studio being allowed to sit around not releasing it for over an entire console generation in length? Oh, and I'm not done yet, I'm going to bring that cursed Prince of Persia remaster into this too. Who approved the release of that terrible trailer? The one that somehow looked worse than the original PS2 release? Why wasn't that being monitored? Why did they wait so long to reassign the lead role to Paris? And why is it still not fucking out? Its not even a remake, its a remaster. It should take two years at most. Any one of these games would be egg on management's face. But Ubisoft has all three just sitting there and, in the case of BGE2 at least, its going to continue sitting there for years to come.
Tencent, the biggest gaming company in the world, invested a shit ton of money on them and gave them full control even protecting themselves from being acquired by Tencent itself, because Tencent knows they aren't fucked at all and that they will recover and go back to normal. Which means that will make Tencent earn a shit ton of money.
Tencent owns a lot of stuff, and they probably see value in some of Ubisoft's parts, I do too, there's some great teams in there. But there is far less value there than there was five years ago and its because they have been completely unable to manage a strategic vision and have totally fallen behind trends in studio management.
The Chinese go for win/win business situations, they are not like westerns who go to invade and ask people to change how they work etc. The Chinese put money on people who they are confident that will generate money and let them work on their own way.[/quote]Actually, a Tencent spokesperson recently said that they were going to be re-evaluating purchasing decisions and expect to take a more active say in game development from now on. Their own recently announced label, Level Infinite, looks like its all Chinese-styled GaaS crap with a "made in America" sticker on it so have fun with that. If they do buy a controlling stake in the company (which, assuming they don't go bankrupt, I am not sure the French government would allow) then they will probably have Guillemot out on his ass and their own man in place within two years.
Sure, like Valhalla and Far Cry 6. But the reality is that Valhalla is the top grossing, best selling game in the series and last year was the best year ever for Far Cry. Plus many other GaaS, not only Valhalla or FC6, continued making a lot of money even if released many years ago. Games like Rainbow Six, The Crew 2, The Division 2, For Honor and so on.
One of the reasons of why they can afford to can big projects, have some fails or delays is because the game released in previous fiscal years (mostly GaaS) generate them a huge steady revenue from legacy titles.
Not sure why you think I have something against new-styled AC. I don't, I think they are masterful games. Far Cry on the other hand... its been downhill since 3 with 5 being a notable exception. 6, the one that actually came out last, though, was a flop and got steep discounts almost immediately. I already said my piece on them mismanaging D2 (and the same goes for For Honor.) They did a good job building those games, and people continue to pay into them, but they are also hobbled by technical issues, post-launch incompetence and other indicators that something is wrong up top.