Destiny makes huge bank – but it’s not good enough

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Destinynotgoodenough

We previously told you that thanks to expectations, Activision had sold 500 million Dollars worth of stock in to retailers. Yesterday, Activision was proud to announce that its grindy, epic space loot-a-thon had sold through – that means sold to customers – $325 Million worth of that stock in just five days.

That officially makes Destiny the biggest selling new IP in the history of video games, and is frankly an achievement worth celebrating.

“Destiny fans played more than 100 million hours of the game in the first week. That’s on par with the engagement levels of our most popular Call of Duty games, which obviously is an industry leader,” said Eric Hirshberg, CEO, Activision Publishing.

“Millions of gamers are having a great time playing Destiny and can’t put down their controllers. And this is just the beginning. Destiny is a platform that will grow and evolve and we will continue to work closely with our partners at Bungie to bring a long line of new experiences and content to life in the game.”

That’s good news for Activision and Bungie, who’ve invested a lot of time and money in to making Destiny a household name.

It’s not good enough for investors though. It’s come to light that since the announcement, Activision’s stock has actually dropped. In the past week, Activision Blizzard stock has lost over 10% of its valuation from an all-time high on the day that Destiny was released.

Read  Bungie delays launch of Destiny 2 Prestige Raid by a week

Because it didn’t sell out, and there’s $175 million worth of stock sitting in warehouses around the globe, it’s dropped from $24.18 per share to around $21.52. The effect of that is that Activision-Blizzard has had $1.5 billion wiped out from its market cap.

It’s frankly ludicrous  – but this is how the people who fund the big games we play work. Remember, this is a planet on which 3 million sales of Tomb Raider in a month was considered a failure.

Last Updated: September 18, 2014

Geoffrey Tim

Editor. I’m old, grumpy and more than just a little cynical. One day, I found myself in possession of a NES, and a copy of Super Mario Bros 3. It was that game that made me realise that games were more than just toys to idly while away time – they were capable of being masterpieces. I’m here now, looking for more of those masterpieces.

  • Jedi Consular Kromas

    I sense a great disturbance in the force. Like a billion wallets cried out and then suddenly went silent.

    Kinda like apocalyptic Steam summer sales.

    • Admiral Chief Assassin

      I see what you did there…

      😀

      • Jedi Consular Kromas

        I am way to overhyped for everything Star Wars after confirmation of an Obi-Wan movie.

        Also 30 Days till Star Wars Rebels!

        Also the force will be with you … always.

    • Cers1960

      Start making cash right now… Get more time with your family by doing jobs that only require for you to have a computer and an internet access and you can have that at your home. Start bringing up to $8012 a month. I’ve started this job and I’ve never been happier and now I am sharing it with you, so you can try it too. You can check it out here…….

      http://GOOGLEBESTJOB/2014/8/18..,,..

  • Spaffy

    Our expectations are to damn high

  • Jonah Cash

    If I work it out at an average of R850 per game that is +- 4 205 000 units sold…. That is not bad if you ask me, but after the reviews they will have to step it up to get new people in!! I’m still having fun with the game…

  • Hendrik

    Good Lord Geoff, did you write this whilst being drunk?

    • Nah; just left words in from edits that shouldn’t have been there. on that note, being drunk sounds like a good plan.

  • OVGrounded new game+++

    So did the Kardasians, Rebeca Black, Angry Birds, Flappy Birds…
    Its just the world we live in now.

    MEMES sell, not quality.

  • Hammersteyn

    So what happens if MW:AW doesn’t sell as expected either? Would I sacrifice Destiny if it means the world is rid of COD? Yes I would.

    • Ryanza

      If Call of Duty fails to sell. Then we all can buy stocks. Buy the next Call of Duty and sell the stocks.

      So can no1 buy Call of Duty this year please.

  • Hammersteyn

    Also how silly do they feel not releasing this on PC as well. The sales would surely have seen them in the green then, you know, before everyone starting hating on Destiny

    • Alien Emperor Trevor

      It probably wouldn’t have made that much difference. You know what our buying habits are like hehe.

      • Hammersteyn

        O yeah. Hahaha

    • Ryanza

      Destiny has no depth. So not a good fit for the PC.

      • Dutch Matrix

        And Call of Duty has WAY MORE DEPTH than Mass Effect, right? RIGHT? RIGHT????

  • MakeItLegal

    this makes me sad , biggest new ip launch , and its considered a failure by some , i predict the game crash of 2019 here and now…fucking ludicrous

    • Ryanza

      2019 is when new consoles should get released. I think this generation of gaming will be known for games needing to be online in order to play just like Destiny and Evolve. So new consoles will be released with online DRM in 2019 and the gaming industry crash 2020.

      • MakeItLegal

        U are spot on mate spot on

      • Guest

        Wait, Evolve is always online too?
        Can’t play offline against the AI?
        That’s disappointing.

  • Alien Emperor Trevor

    That’s the price of unrealistic expectations.

  • Anon A Mouse

    Apparently there are still people out there that are unable to connect to Destiny since launch. This is the customer care response:
    “We are working diligently to provide information that helps players resolve their Destiny
    issues. We are finding that many guardians are quite adept at coming up
    with new and interesting solutions to a number of the error codes they
    receive. If you received an error code and were successfully able to fix
    the issue, post your steps here.”

    In other word sort our shit out among yourselves. o.O

    • MakeItLegal

      what ? thats heavy tjo

    • Weanerdog

      So the new consoles are really like PCs.

  • Weanerdog

    Any bets on the next story being that Activision executives were selling shares prior to launch date. Or that someone is being investigated for making a killing selling short.

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