育碧重塑：关停6款游戏、削减成本支出

Core Viewpoint - Ubisoft is undergoing a significant restructuring plan to adopt a decentralized operational model, dividing its assets into five creative centers focused on different gaming segments, aiming for sustainable growth and high-quality game production [3][4][6]. Group 1: Restructuring Plan - The restructuring plan includes the establishment of five creative centers, each responsible for specific game genres such as open-world games, shooting games, and casual games, with full financial ownership [3][4]. - The new organizational structure will officially start operations in early April, integrating game development and marketing functions, and ensuring accountability for economic performance [4][6]. Group 2: Financial Performance - For the fiscal year 2024-2025, Ubisoft reported revenues of €1.85 billion, a year-on-year decline of 20.5%, and an operating loss of €15.1 million [8]. - The company anticipates net bookings of approximately €1.5 billion for the fiscal year 2025-2026, with an expected EBITDA loss of around €1 billion [8]. Group 3: Cost-Cutting Measures - Ubisoft has halted the development of six games that did not meet new group standards, reallocating resources to ensure higher quality for seven other titles [7]. - The company is accelerating its cost-cutting plan, aiming to save at least €100 million in fixed costs by March 2026, with a total reduction target of €200 million over the next two years [7]. Group 4: Market Context - The gaming market is becoming increasingly competitive, with global customer acquisition spending projected to reach $25 billion in 2025, reflecting a modest growth of 3.8% from 2024, primarily driven by casual games [5][6]. - The AAA gaming sector faces heightened challenges due to rising development costs and brand-building difficulties, prompting Ubisoft's strategic adjustments [6]. Group 5: Strategic Investment - Tencent completed a strategic investment in Ubisoft's subsidiary Vantage Studios, amounting to €1.16 billion (approximately ¥9 billion), acquiring about 26% of the subsidiary, which is seen as a signal of Tencent's international expansion [9].