Assassin’s Creed maker Ubisoft bets on ‘Black Flag’ remake to turn its ship around

By Leo Marchandon

April 23 (Reuters) – Ubisoft said on Thursday that “Assassin’s Creed Black Flag Resynced”, a remake of its 2013 pirate-themed hit title, would launch on July 9, marking the video game group’s first major release since its profit warning in January.  

Ubisoft’s market capitalization has collapsed 93% from its 2018 peak of more than 12 billion euros ($14 billion). It expects an operating loss of 1 billion euros in 2026, driven by the cancellation of six games.

“If the showcase succeeds, I think a positive market reaction is likely. But they can’t afford to disappoint,” Corentin Marty, analyst at Paris broker TP ICAP Midcap, told Reuters.

Primarily developed by Ubisoft Singapore, “Black Flag Resynced” will include updated visuals, new gameplay features, and an extended storyline, Ubisoft said, adding Grammy-nominated artist Woodkid is returning on the soundtrack.

The game, to be priced at 59.99 euros, will be available on PlayStation 5, Xbox Series X|S, and PC via Steam, Epic Games Store and Ubisoft’s own store, the company said. 

The critical launch echoes Japan’s Capcom, which revived its acclaimed “Resident Evil” franchise to overcome a dire financial state.

Capcom, suffering steep losses in spring 2013, halved its profit forecast and cancelled projects, before making a strategic turn towards a tight portfolio of core franchises and a riskier approach on creative decisions. The launch of “Resident Evil 7” in 2017 was the first in a series of commercially successful remakes and new entries.

Capcom has now recorded 12 consecutive years of operating profit growth, while its market capitalisation rose nearly 1,200% over a decade.

($1 = 0.8551 euros)

(Reporting by Leo Marchandon in Gdansk, editing by Milla Nissi-Prussak)