Sony Takes A $204 Million Hit As Destiny 2 Falls Short Of Expectations

"Tao noted that Sony has "downwardly revised the business projection for the time being and recorded an impairment loss against a portion of the assets at Bungie." The ¥31.5 billion (approximately $204 million) impairment, combined with an additional ¥18.3 billion (about $118 million) expense tied to development cost corrections. Tao said these adjustments were necessary to reflect the game's current performance, which has been affected by lower player activity and market competition."

"When asked whether this impairment could be the start of further write-downs, Tao clarified that the goodwill from the Bungie acquisition remains secure. "This is an impairment loss of [Bungie's] intangible assets," she said. "As for goodwill, that is supported by the whole game segment, so there will not be any impairment loss for goodwill. For this time, Destiny 2's game performance did not reach the expectations we had when we acquired Bungie.""

Destiny 2's player engagement and revenue have been weaker than expected since Bungie's 2022 acquisition for $3.6 billion. Sony recorded a ¥31.5 billion (about $204 million) impairment against Bungie assets and added a ¥18.3 billion (about $118 million) expense for development cost corrections after downwardly revising business projections. The impairment affected intangible assets, while goodwill remains supported by the whole game segment and was not written down. The game's current performance reflects lower player activity and increased market competition. Steam data shows player counts dropping below 2018 lows, and fans have reported frustration over missing updates and recent gameplay issues.

Read at GameSpot