After the publication of the financial results of the last quarter, it’s clear that TinyBuild is going through a period of deep crisis. The Washington-based company has seen its revenues drop quite dramatically enough to push the Chief Financial Officer Tony Assenza to resign. All this led the publisher to change course.
Only a few days ago, on June 29, 2023, TinyBuild had announced the collapse of its shares. The reasons are essentially two: from the decrease in investments for non-triple A game distribution platforms and the disappointing results of Red Cerberus and Versus Evil. Due to this significant reduction in revenues, the publisher has decided to abandon third-party games to focus more on developing internal projects.
At the moment, TinyBuild is evaluating several titles: from those already published to those coming soon. The publisher aims to reorganize his studio and for this reason there could be several layoffs. Following the latest announcements, shares fell 78.8% to £7.3 a share – the company’s lowest price since 2021.
In these years, TinyBuild has launched the likes of Hello Neighbor, Potion Craft Alchemist Simulator, and Not for Broadcast IPs. The publisher’s hope is that the most successful titles can continue to sell. As for games like Critter Cove, Slime 3K and Kill it with Fire 2, hopefully they will be enjoyed by gamers as much as possible.
The choice made by Daedalic is very similar. After the bad results of Lord of the Rings: Gollum, the company has decided to give up on internal development.
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Source: Official Site