Sony’s financial results for its fiscal year 2025 reveals a hefty impairment of Bungie that’s had a big impact on PlayStation’s operating income.
What that means in a nutshell is that, last year, Sony reduced the Marathon studio’s value by $765 million, a loss measured against net income for the period.
Despite this impairment loss, Sony’s gaming business still recorded profits up 12 per cent year-on-year. If you were to exclude the impairment, however, you’d instead be looking at a 45 per cent increase.
Bungie was acquired by Sony in 2022 for about $3.6 billion, and despite lofty goals for the company to become a sort of guiding light for live service initiatives, the acquisition appears to have been more trouble than it’s worth.
With reported development costs of over $200 million, delays, and art scandals, Bungie’s first game under the PlayStation banner — Marathon — has seemingly had a pretty rough, and costly, path to release.
The game isn’t exactly setting the world on fire, either. By all accounts it’s a great extraction shooter that’s highly regarded by players and critics, but the limited data points we have — SteamDB charts being the main one — suggest it’s not selling particularly well.
Bungie remains committed to the game, though, and has assured players several times that it has long-term goals and plans for the coming years.
All told, it doesn’t place Bungie in a great spot; there may be further redundancies or other cost-cutting measures to try and get the company back on track.
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