Sony admits that its acquisition of Bungie did not meet expectations

Since being acquired by Sony in 2022, the development path of game developer Bungie has not been smooth.

After multiple rounds of layoffs, the highly anticipated multi person shooting new work “Marathon” under the company has announced a delay, and morale within the company continues to be low.

Sony’s recent public statement has further worsened Bungie’s situation.

At the latest financial meeting, Sony explicitly admitted for the first time that the acquisition of Bungie did not achieve the expected results.

The official pointed out that the user engagement of Destiny 2 continues to decline, and the number of players on the Steam platform has fallen to a new low.

Sony stated, “The performance of Destiny 2 was partly due to intensified market competition, and its sales and user activity did not meet our expectations at the time of acquisition

More noteworthy is that Sony recorded an impairment loss of approximately $204 million on assets related to Destiny 2 in its Q2 2025 financial report, and lowered its overall business expectations for Bungie.

Asset impairment usually occurs when a company believes that the market value of an asset is significantly lower than its book value.

This move means that Sony officially acknowledges that Bungie’s actual value has significantly decreased, and its intangible assets such as patents, trademarks, and goodwill are also considered to have decreased in value.

This impairment not only reflects the lifecycle challenges of Destiny 2, but also highlights the strategic pressure Bungie faces within the Sony system.

With the delay of “Marathon” and weak growth of existing IPs, Bungie urgently needs to reshape its product line and team confidence to meet Sony’s increasingly stringent performance requirements.