Video game mega publisher Embracer, which this morning announced a “comprehensive restructuring plan”, says it must now “exploit” the fact it owns the rights to Lord of the Rings and the Hobbit “in a very signficant fashion”.
Speaking via an investor call held in the wake of today’s announcement that it would restructure the company, Embracer’s newly-promoted interim exec Matthew Karch said the business must now prioritise pumping out Lord of the Rings projects ahead of other game ideas which might not perform as well.
“We own Lord of the Rings, and we know we need to be exploiting Lord of the Rings in a very significant fashion and turning that into one of the biggest gaming franchises in the world,” Karch said. “And that’s obviously something we’re going to be doing.
“That’s a much better use of resources than some of the other projects that some of our teams have been working on. Working together we have those oppurtunities and we’re super excited to see that working relatively quickly.”
Embracer has announced plans to close studios, end projects and cut staff to turn the company around following the loss of a lucrative proposed $2bn business deal last month, and after last year’s high-profile failure of the Saints Row reboot.