The game has pulled in about $1 billion in revenue on average each year since its launch in 2016, according to Sensor Tower. “We also face an AR market that is developing more slowly than anticipated, because of technology challenges and because larger players are slowing down their investments,” Hanke said.Īccording to Hanke, “Pokemon Go” will remain a top priority for the company, since it remains the most successful game. According to Hanke, in the years since Niantic’s release of “Pokemon Go” the mobile market has become crowded and the advertising landscape has made it difficult to launch new games at large scale. He added that the mobile market is oversaturated and there is an “overall macroeconomic slowdown,” as well as “unique challenges” for the AR gaming segment. This change will bring expenses and revenue back into line while preserving our core assets and long-term upside.” “New projects in games and platform have not delivered revenues commensurate with those investments. “We have allowed our expenses to grow faster than revenue,” Hanke said in the email, adding that there was a surge in popularity for its games and platforms during the pandemic but that tide has been turning. Niantic will also be closing its Los Angeles-based game studio, as well as sunsetting its AR basketball game “NBA All-World,” and ceasing production on its upcoming superhero-based game “Marvel: World of Heroes.” These games will follow “Harry Potter: Wizards Unite,” which was shuttered in 2022.
The maker of the augmented reality “Pokemon Go” game, Niantic Inc., will lay off about a quarter of its workforce, or 230 employees, the company said in an email shared Thursday with employees by Chief Executive John Hanke.
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