Ubisoft Postpones Assassin's Creed Shadows, Adjusts Financial Targets, and Returns to Steam

Following the softer-than-expected launch of Star Wars Outlaws, Ubisoft has adjusted its financial targets, postponed Assassin's Creed Shadows to give its development teams more time to polish it, and announced the return of day-one releases on Steam. "We are departing from the traditional Season Pass model," the company added.

At a meeting of its Board of Directors, Ubisoft updated its financial guidance for fiscal years 2024-25. The company now expects net bookings to be approximately €1.95 billion and non-IFRS operating income and free cash flow to be approximately breakeven. For the second quarter of fiscal year 2024-25, the company now expects net bookings to be in the range of €350 million to €370 million, Star Wars Outlaws was released during this period. In the first quarter, net bookings were €290m. The revised targets mainly reflect decisions made for Assassin's Creed Shadows and the weaker than expected launch of Star Wars Outlaws.

Based on player feedback and in line with the company's "player-centric approach", the following decisions have been made for Assassin's Creed Shadows. The new AC game will now be released on 14 February 2025. It was previously scheduled for release on 15 November 2024. "While the game is feature complete, the learnings from the Star Wars Outlaws release led us to provide additional time to further polish the title," Ubisoft said, adding, "We are departing from the traditional Season Pass model. All players will be able to enjoy the game at the same time on February 14 and those who preorder the game will be granted the first expansion for free." Furthermore, the game will mark the return of new releases from Ubisoft on Steam on Day 1. Previous pre-orders will also be cancelled due to all these changes.

Despite solid reviews and user ratings, early sales of Star Wars Outlaws were weaker than expected. "In response to player feedback, Ubisoft's development teams are currently fully mobilized to swiftly implement a series of updates to polish and improve the player experience in order to engage a large audience during the holiday season to position Star Wars Outlaws as a strong long-term performer," the publisher states. The game will be available on Steam on 21 November.

Yves Guillemot, Co-Founder and Chief Executive Officer, said: "Our second quarter performance fell short of our expectations, prompting us to address this swiftly and firmly, with an even greater focus on a player-centric, gameplay-first approach and an unwavering commitment to the long-term value of our brands. Although the tangible benefits of the Company’s transformation are taking longer than anticipated to materialize, we keep on our strategy, focusing on two key verticals - Open World Adventures and GaaS-native experiences – with the objective to drive growth, recurrence and robust free cash flow generation in our business."

"In the light of recent challenges, we acknowledge the need for greater efficiency while delighting players. As a result, beyond the first important short-term actions undertaken, the Executive Committee, under the supervision of the Board of Directors, is launching a review aimed at further improving our execution, notably in this player-centric approach, and accelerating our strategic path towards a higher performing model to the benefit of our stakeholders and shareholders."

"Finally, let me address some of the polarized comments around Ubisoft lately. I want to reaffirm that we are an entertainment-first company, creating games for the broadest possible audience, and our goal is not to push any specific agenda. We remain committed to creating games for fans and players that everyone can enjoy."

Further details will be provided during Ubisoft H1 results announcement on 30 October 2024.

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