Crytek Acknowledges Financial Crisis, It Was Just a ‘Transitional Phase’

By   /   Jul 26, 2014

Over the past few months, we have been listening to rumours and reports related to Crytek and the financial issues that the studio has been facing. At last, the studio has issued out a statement to press, detailing its financial crisis and long-term plans.

The studio acknowledges that it has been in a ‘Transitional Phase’ as it transforms from being a developer to an online publisher. This effort, however, not only demands significant capital, but also a complete change of strategies:

Like the games industry as a whole, Crytek has been in a transitional phase. Our evolution from a development studio to an Online-Publisher has required us to refocus our strategies. These challenges go along with an increased demand for capital which we have secured.

Crytek has also stated that since they have acquired required capital, they are well prepared to carry out their long-term plans. Sadly, they didn’t share any information on developments and progress:

We can now concentrate on the long term strategic direction of Crytek and our core competencies. We kindly ask for your understanding, that we won’t be communicating further details about our developments and progress.

Considering the facts that the company cancelled a sequel to Xbox One exclusive Ryse, R&D graphics engineer left the job, and producer of Ryse: Son of Rome and Crysis 3 Mike Reed left the company; it looks like the company has been in a pretty bad shape, but it’s good to see that they are finally coming back strong.

For the complete letter, head over to GamesIndustry.Biz!

Featured Videos

Hot Right Now

Video Game Remasters

Untold Stories of Video Game Remasters – the Good, Bad, and Ugly

In today’s video, we discuss something subjective – are video game remasters good or bad? And...

by   /   Sep 9, 2016
Video Game Villains

Top 10 Invincible Video Game Villains Who Just Won’t Die, No Matter What

We all are accustomed with video game villains and the story usually concludes with the fall of...

by   /   Aug 18, 2016
Panasonic 3DO

Top-10 Retro Consoles You Never Knew Existed

Video gaming has come a long way! While we are well-acquainted with the likes of Xbox Scorpio and...

by   /   Aug 17, 2016
Insanely Priced Retro-Games

Top-10 Insanely Priced Retro Games

It goes without saying that video gaming is a luxury and an expensive hobby. While most of the...

by   /   Aug 17, 2016
Video Games Past

Why Some Video Games Should Let Go of Their Past

We all have favorite video games franchises that we so dearly love the way they are and yet we also...

by   /   Aug 8, 2016
Load More