Square Enix has revealed its strategic plans to strengthen its in-house development capabilities during a recent financial briefing for the fiscal year ending on March 31, 2023. The company aims to create new studios and explore acquisitions to bring talented external resources into its fold.
Interestingly, this announcement comes as a bit of a surprise considering that just a year ago, Square Enix sold off several studios and intellectual properties to Embracer Group. The decision was primarily attributed to changes in the global business environment, prompting the company to divest its Western operations, including renowned studios like Crystal Dynamics and Eidos Montreal.
In their recent presentation, Square Enix also highlighted their commitment to ramping up recruitment efforts, with a focus on hiring more developers and engineers. Their objective is not only to develop high-definition (HD) and smart device games but also to create content for future cross-platform endeavors. The term “HD” is commonly used by Square Enix to refer to their AAA console and PC games.
Furthermore, Square Enix openly acknowledged that some of their highly anticipated upcoming titles, such as Forspoken, did not meet their performance expectations.
This admission demonstrates the company’s dedication to evaluating and adjusting its strategies to ensure continued success in the ever-evolving gaming industry.
In other news, during a recent financial briefing, Square Enix outlined its intentions to revamp its strategy, placing a renewed emphasis on major releases with widespread appeal and exceptional quality. While this approach may seem obvious for such a prestigious Japanese organization, it is evident that the company has not been effectively executing this vision in recent times.
Square Enix revealed to investors that it has been actively working on stabilizing its earnings by increasing the number of subscribers to its massively multiplayer online games (MMOs), such as the popular title Final Fantasy 14. This strategic move ensures a consistent and dependable revenue stream, which the company plans to reinvest into the development of blockbuster titles.
By striking a balance between cultivating a reliable income from MMO subscriptions and focusing on creating captivating and globally appealing games, Square Enix aims to reclaim its position as a prominent player in the gaming industry. The company’s ultimate objective is to deliver high-quality, groundbreaking releases that captivate audiences on a global scale and reestablish its prominence in the market.