Embracer Group Reveals Impressive Amount of Games in Development

You've probably heard about the Embracer Group before, this Swedish gaming giant rose to attention when it was revealed that Square Enix had sold off Crystal Dynamics, Eidos-Montreal, and Square Enix Montreal to the company. Since then, we haven't heard much from the group, however, the company has revealed that they have over 211 new games currently in development, many of which have yet to be announced.

This may come as a surprise to many as it was also confirmed that Embracer had plans to cancel multiple games projects and close some of the studios that it had acquired as part of a comprehensive company restructuring. The company, which is based in Karlstad, Sweden has become well known for its spending habits for quite a few years now. Just in 2022 alone, the company had reportedly spent over $8 billion on acquisitions.

 

Just last year, it was revealed that Embracer Group had merged with various gaming companies such as Gearbox Software, Grimfrost, Fractured Byte, and well over half a dozen others. More recently, it was confirmed that the conglomerate owns 12 operative groups which spans over 138 internal studios with a total headcount of 16,601, this is according to the company's newly published sustainability report.

Also seen in the same sustainability report, we learn that the company has over 221 game projects that are currently in development, with 165 of these games yet to be announced. This means that the company has seen a 47% increase in game production than the year prior which had over 150 games in development. Despite how impressive these numbers sound, it's yet to be seen if any of these projects actually make it to the market, as development won't be easier, considering the corporate restructuring that is taking place.

The company's CEO, Lars Wingefors said the reason for the project cancellations was meant as a response to the slowing global economic growth, which has sadly inhibited the gaming industry throughout 2022 and continues to do so currently this year. Yet it would seem that this slowed economic growth didn't stop the company from doubling its record high revenue, making over $3.24 billion during the 2022 fiscal year.

Thanks to their acquisition spending spree, Embracer Group is now the proud owner of IPs such as Lord of the Rings, Borderlands, Saints Row, Tomb Raider, just to name some of the 896 IPs that are currently under the company's ownership. The report has also sadly revealed that due to the restructuring taking place, many of the 211 current gaming projects may be shelved and many studios also shut down.

Daman Shelley (@UndeadandTired)
Editor, NoobFeed