Analysis: one in three acquired game studios has been shut down since 2000

Sebastian Cardoso tracked 303 PC and console studios acquired by large companies since 2000 and found one in three has since been shut down completely, half of them within five years of acquisition. He found the buyer was the strongest predictor of a studio's fate, with all of Activision Blizzard's ownership periods ending in decline or closure, 83% for EA, 63% for Microsoft, 58% for Sony, 50% for Tencent and 43% for Embracer, while Nintendo closed none of the six it bought. Closures have accelerated, with one acquired studio shut between 2019 and 2022 but 33 since 2023.