this post was submitted on 23 Oct 2024
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For those saying they didn't know about this, it's because they never actually released anything. They got shut down unexpectedly before they finished any projects. Allegedly there are still some in-development games based on Netflix properties that will still be released on their gaming service, and the service itself will stay up. It's just the studio itself that was shut down.
Why even join a new studio now if the owners randomly shutter them after - checks notes - the best financial quarter ever ?
Because it was a pandemic fueled rush. Everyone thought gaming was the best bet because we're all at home. Companies like meta, Microsoft etc.. grew astronomically on tax payer subsidies making it even better money. Other companies tried to invest or spin up game divisions.
Now the party is over, it doesn't even matter if these games are good or have potential. They put the sunk cost in the "pandemic's fault" spreadsheet, and take all the liabilities and costs from the expense spreadsheet. It looks fantastic on paper to investors, the real numbers dont really matter.