Sony has confirmed that Destiny 2 has fallen short of expectations, forcing the company to record an estimated $204 million impairment related to Bungie’s assets. During its Q2 FY2025 earnings call, Sony acknowledged that the popular shooter’s player engagement and revenue have been weaker than anticipated since the 2022 acquisition of Bungie for $3.6 billion.
“Regarding Destiny 2, partially due to changes in the competitive environment, the level of sales and user engagement has not reached the expectation we had at the time of the acquisition of Bungie,” CFO Lin Tao explained (translated via The Game Post).
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.” She added that future risks remain for both Destiny 2 and Bungie’s upcoming shooter Marathon if they fail to meet Sony’s goals.
The financial setback comes as Destiny 2 faces some of its lowest engagement levels in years. Steam data indicates that player counts are dropping below the lows of 2018’s Curse of Osiris, while fans have expressed frustration over missing updates and recent gameplay changes. Bungie has pledged to improve communication and focus on both the “immediate and long-term future” of the game.
The studio is banking on its next major expansion, Renegades, launching December 2, 2025, to revive interest. Still, for now, Sony is adopting a more cautious outlook for the once-dominant shooter.
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