Unfortunately, Embracer Group is going through a difficult time. After an important deal valued at $2 billion fell through, the company's shares plummeted. This unfortunate situation resulted in game cancellations, studio closures, and layoffs. Among its new strategies is exploiting the potential of one of their most important franchises: The Lord of the Rings.
CEO Lars Wingefors stated that they will reduce the release of third-party games and focus more on internal intellectual properties. Now, interim COO Matthew Karch echoed these statements at a recent press conference.
Matthew Karch is confident that the restructuring process will allow the company to make a better selection of more profitable products that offer greater opportunities for future growth. He also hopes to capitalize on their IP.
Related Video: The Lord of the Rings: Gollum - Story Trailer
It seems that The Lord of the Rings will be very important for the future of Embracer Group
The executive expressed interest in exploiting the potential and scope of The Lord of the Rings and suggested that he has ambitious plans for the fantasy franchise.
"I mean, we own The Lord of the Rings, and we know we need to exploit it in a very significant way and turn it into one of the world's biggest gaming franchises. That's obviously something we will do," said Matthew Karch.
"That's a much better use of resources than some of the other projects our teams were working on. So if we work together, we have those opportunities, and we're very excited to see that put into practice relatively quickly," concluded the executive.
In August 2022, the company acquired the rights to J. R. R. Tolkien's work, which now allows them to make video games, merchandise, movies, and board games. In February 2023, they revealed they had five new titles in the franchise in development, although it is unknown if any of them were affected by the recent restructuring process. In May, they announced a new MMO being developed in collaboration with Amazon Games.
The latest game in the franchise to hit stores was The Lord of the Rings: Gollum, which received extremely negative reviews from players and critics alike.
But tell us, what do you think of these plans? Let us read your comments.
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