The last two years have been a disaster for EA and things don’t seem to be improving for the company at the financial front. We previously reported how the company’s stock dropped 44% in 6 months thanks to the botched PR and launch of Star Wars Battlefront 2 and Battlefield V.
EA’s stock value has been in a state of flux since late last year and it seems the continued failure is forcing top EA execs to abandon ship and pull out their money from the company. In the recent week and months, top EA execs have pulled millions from the company which is a clear sign of “every man for himself” mindset among top Electronic Arts execs after the continued failure. Battlefield 5, Star Wars Battlefront games, and even FIFA Ultimate Team aren’t generating enough revenue for the company.
EA’s dubious practices and aggressive monetization is to blame for consumer mistrust that led to the company’s current state. Many of the buyers of Star Wars, Battlefield, and even FIFA were refused refunds. Such buyers took to social platforms to share their stories that went viral. Such shady practices open up Electronic Arts to lawsuits and affect consumer goodwill.
According to a table published by Insider Insights, company CEO Andrew Wilson dumped $716,097 worth of stock recently. COO Blake Jorgensen dumped a total of $892,768 in recent times.
Such large stock dumps show how EA execs have a dismal view of the company’s future. It seems even the company doesn’t have much faith in the success of BioWare’s Anthem, EA’s last chance at redemption.
BioWare’s latest AAA IP is releasing next month but already suffers from critical server issues that are expected to mare the game’s launch as well.
EA’s reputation could affect Anthem’s sales, in fact, many fans on social media are calling for a total boycott of Anthem due to EA’s poor handling of Star Wars license and political agenda behind Battlefield V.