As Bloomberg reports, Wizards of the Coast is said to have canceled a total of five video games. The Hasbro-Daughter did this due to an internal strategy change.
Apparently something is happening at Wizards of the Coast in terms of corporate strategy. Recently, the cause of Magic: The Gathering was declared, now, according to a report by the US financial magazine Bloomberg, several video game projects are being canceled.
WotC takes position
It's not just a rumor, as Wizards of the Coast issued a statement to Bloomberg. It explains that while Hasbro's gaming division is still committed to leveraging digital games, it has made some changes to its long-term portfolio to focus on game titles that are strategically aligned with the development of existing brands. In addition, they want to focus on those games that are promising to "expand or win the audience in new ways."
This is particularly surprising given that Wizards of the Coast has opened several new video game development studios in recent years while also making strategic purchases from existing publishers. Among other things, Tuque Games was bought, which became Invoke Studios in 2022. The team had previously worked on, among other things, the Dungeons & Dragons game Dark Alliance, which would eventually launch in 2021 and received mixed reviews.
The financial magazine Bloomberg names the two indie studios Hidden Path Entertainment and Otherside Entertainment as the companies affected by the project cancellations. This is again surprising, because Hidden Path was working on a new Dungeons & Dragons video game, for the development of which they had open positions in late summer. According to the execution, Otherside Entertainment should also have been working on a Dungeons & Dragons game. Wizards of the Coast and Hasbro are apparently putting two projects on one of the group's top-selling brands on hold. With the acquisition of the toolset platform "D&D Beyond", the two companies only got the franchise rolling in spring 2022.
Many employees are not directly affected by the project cancellations: Less than fifteen are said to lose their jobs at Wizards of the Coast. According to Bloomberg, everyone should be given the opportunity to apply for other positions within the company.
According to Bloomberg, the decision is due to an internal strategy change. Announced last year Hasbro said it wanted to refine its “Brand Blueprint” business model, which focuses on building different brands through toys, games and TV or films.
Hasbro also stated that it wanted to concentrate on a smaller number of brands. At Wizards of the Coasts, Magic: The Gathering and Dungeons & Dragons will be the focus of the coming years. WotC President Cynthia Williams recently stated that the Dungeons & Dragons brand was being significantly under-monetized.
At least with the trading card game, the parent company had recently suffered a severe blow. Although Magic: The Gathering was the group's first billion mark, it stood due to the Masses of new releases under criticism. The share price slipped.
* Update *: As the studio Hidden Path Entertainment stated, the "epic D&D project with Wizards of the Coast" has not been put on hold. They are even looking for new employees for the team. However, this is contradicted by a recent statement by Bloomberg journalist Jason Schreier, who is sticking with the report. A source and a spokesman for Wizards of the Coast have therefore confirmed the end of the Hidden Path Entertainment game.
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