Xbox CEO reportedly warns firm will not survive if it only relies on existing franchises

Xbox boss Asha Sharma reportedly warned at a recent town hall that the company will not survive if it only relies on the past, and that it must keep creating enduring new IP with the courage to reach new audiences. She also said Xbox is backing its strongest franchises and wants them to become global billion-dollar franchises. Xbox cancelled several new IP projects last year and last month proposed closing Ninja Theory as part of a business reset that has seen an estimated 3,200 job losses and the divestment of five studios; yesterday it announced Xbox Labs, a team of game makers, engineers and scientists testing new projects, with no new staff recruited.