Decades-old Japanese game developer Square Enix is setting its sights to upgrade multiple existing IPs to AAA status. This decision comes as the company’s stock fell 30% following the strong but not strong enough sales of Final Fantasy XVI.
As reported by VGC, recently appointed CEO Takashi Kiryu addressed the slump, saying that it needs to put a focus on not just churning out new IPs, but also leveraging its strong library of existing properties. If successful, he believes multiple of its mid-tier IPs could reach that coveted AAA status.
It’s worth pointing out how many missteps the studio has taken over the last couple of years. Marvel’s Avengers will cut its support by the end of the month after its lackluster performance, Final Fantasy’s latest entry didn’t make its high-end expectations, and Luminous Productions’ debut game — Forspoken — didn’t just sell poorly, but also saw middling reviews from critics.
What do you think? Are you excited to see what Square Enix has planned? What IP should it invest more into? Let us know below!