Enad Global 7 Cancels Daybreak’s Marvel MMO, Sees Huge Revenue Growth In Q1 2022
When Dimensional Ink Games CEO Jack Emmert jumped Daybreak’s ship to head up NetEase’s first U.S. studio earlier this month, there have been worries about what that might mean for his untitled Marvel MMO. Well, the time worrying is over as Enad Global 7 has just revealed in their Q1 2022 financial report that its already canceled the game.
EG7 plans to distribute the resources allocated for the canceled game to other more profitable titles in its portfolio, particularly Lord of the Rings Online, DC Universe Online, and new first-party original IP titles.
For context, Enad Global 7 acquired Daybreak Games and its subsidiaries and mini-studios back in 2020, including PlanetSide 2’s Rogue Planet Games, EverQuest’s Darkpaw Games, and DC Universe Online’s Dimensional Ink Games.
“EG7 today announced it will be discontinuing the development of the Marvel project at Daybreak Games. Based on the re-evaluation of the development risk profile, size of investment, and the long-term product portfolio strategy for the group, the board has decided to change the development priorities and reallocate resources within the group to focus on alternative long-term projects.”
Following the reallocation, EG7 expects to write down roughly SEK 230 million in project-related assets. Since the Marvel MMO was a long-term investment, the holding company said that it won’t have any significant effect on near to mid-term revenues.
On the subject of revenue, Enad Global 7 saw a huge increase in net revenue in Q1 2022 at SEK 452.2 million (roughly USD 45.8 million), a 49% increase compared to Q1 2021. The report also mentioned their plans to divest itself of Russian publisher Innova to get rid of Russia-related risks and “baggage,” apparently at no material risk to the entire group.
You’ll find the full Q2 2022 financial report on the company’s official site. Disappointed fans might want to keep an eye out for Ben Brode’s new Marvel collectible card game, Marvel Snap, that’s coming to mobile devices later this year.
