Final Fantasy XVI has captivated the sales market in 2023, launching exclusively for the PS5 and positioning itself as a PlayStation first-party title. Many were curious to see if this gamble would pay off. Initially, Square Enix expressed optimism, boasting about how quickly the game reached the 3-million-units-sold milestone. However, their recent report for Q1 of the 2024 fiscal year tells a different story.
Last weekend, Square Enix released a downbeat report, revealing a 79% decrease in operating income compared to the same period last year, despite the release of Final Fantasy XVI. While FF16 was not a complete failure, it didn’t generate enough sales to compensate for other weaknesses in Square Enix’s business, including the failure of Forspoken and decreasing revenue from Final Fantasy XIV and mobile titles.
A report from Bloomberg states that during a post-earnings conference call, Square Enix’s Takashi Kiryu admitted that Final Fantasy XVI did not meet the company’s high expectations. Kiryu also partially attributed this to the limited user base of the PlayStation 5. However, with PS5 supply constraints now alleviated, Square Enix hopes to boost FF16 sales as more people get their hands on the console.
These recent statements from Kiryu seem connected to the ones he made when announcing that Final Fantasy XIV and all future major Square Enix titles would be coming to Xbox. It appears that Square Enix has lost faith in the PlayStation-exclusive future they once envisioned.
Despite slightly disappointing sales, Final Fantasy XVI is undeniably a remarkable spectacle. As described in Wccftech’s 9 out of 10 review by Francesco De Meo, “Final Fantasy XVI sets a new standard for Japanese role-playing games. While the RPG components adhere to Square Enix’s standards, it is the narrative and gameplay that surpass all expectations. […] A technical marvel, Clive Rosfield and Torgal form one of the best character action duos, and their epic 70-hour adventure across Valisthea will be forever remembered in Final Fantasy XVI.”
Final Fantasy XVI is now available on PS5.
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Basant Kasayap is an entertainment aficionado who delves into the glitz and glamour of the entertainment industry. From Hollywood to Bollywood to regional cinema, she offers readers an insider’s perspective on the world of movies, music, and pop culture.