Sony has confirmed that its $3.6 billion purchase of Bungie is not meeting financial expectations. The company said that Destiny 2’s performance has declined, with player numbers and revenue both below projections.
In its latest earnings report, Sony revealed that it took a loss of more than 31 billion yen, or about $210 million USD, related to Bungie. The publisher cited weak engagement and lower sales as the main reasons behind the shortfall.
When Sony acquired Bungie in 2022, the goal was to expand its live-service business and strengthen PlayStation’s presence across platforms. Three years later, that plan has yet to deliver. Destiny 2’s player base has dropped to some of its lowest levels, and interest in its seasonal content has faded.
The studio has also faced internal challenges. Bungie CEO Pete Parsons recently stepped down, and Sony has started taking a more direct role in the company’s management. Reports suggest that Bungie’s next project, Marathon, is now a priority, that was delayed indefinitely.
Sony executives say they still believe in Bungie’s long-term potential. They hope closer collaboration with PlayStation Studios will help stabilize the developer and improve its next games. However, the situation highlights how difficult it can be to maintain a live-service game over time.
Destiny 2 remains an important part of Sony’s strategy, but it also serves as a cautionary example. Even major studios with established audiences are struggling to keep players engaged as the live-service market becomes more crowded.