Ubisoft hits "major reset" button, cancels 6 games including Prince of Persia remake, delays 7 more reportedly including Assassin's Creed: Black Flag remake, and confirms 4 new IP

Ubisoft will undergo a "major reset" across "organizational, operational and portfolio" levels in a seismic shakeup for the company, which has repeatedly reported disappointing or declining sales and stock prices in recent years. This new organization structure will "start operating" in early April.

This reset has seen the cancellation of six in-development games, including the long-delayed Prince of Persia: The Sands of Time remake. These games did not "meet the new enhanced quality as well as more selective portfolio prioritization criteria," the company says. Four of these canceled games were unannounced, including three new IPs and a mobile game. (For those wondering if Beyond Good & Evil 2 was among the canceled projects, all we can say for now is that Beyond Good & Evil is listed as a company brand elsewhere.)

A statement from CEO and founder Yves Guillemot highlights a "AAA industry" that has "become persistently more selective and competitive with rising development costs and greater challenges in creating brands." Despite these challenges, Ubisoft says "exceptional AAA content, when successful, has more financial potential than ever."

Ubisoft says it will "allocate additional development time" to seven more now-delayed games, including an "unannounced title initially planned for FY26, that has been delayed to FY27." Bloomberg's Jason Schreier reports this lineup includes the long-rumored Assassin's Creed: Black Flag remake.

This portfolio revision covers "the roadmap over the next 3 years."

"We'll have big products coming over the next three years," CFO Frederick Duguet said on a Wednesday investors call attended by GamesRadar+.

As part of cost-cutting measures hoping to shave off "an additional €200m over the next 2 years," Ubisoft has closed two studios – the recently shuttered Ubisoft Halifax and Ubisoft Stockholm.

It will also consolidate its production under five "Creative Houses" charged with specific genres and franchises. These houses will "combine game development and go-to-market functions with a gamer-centric approach," the company says, and have "full financial ownership and account for economic performance." This includes financial accountability for cash generation.

Here's how these houses shake out.

• CH1 (Vantage Studios, Ubisoft's new Tencent-backed initiative) - "Focused on scaling and extending Ubisoft’s largest and established franchises to turn them into annual billionaire brands," includes Assassin's Creed, Far Cry, and Rainbow Six
• CH2 - "Competitive and cooperative shooter" experiences, including The Division, Ghost Recon, and Splinter Cell
• CH3 - "Select, sharp live experiences," including For Honor, The Crew, Riders Republic, Brawlhalla, and Skull & Bones
• CH4 - "Immersive fantasy worlds and narrative-driven universes," including Anno, Might & Magic, Rayman, Prince of Persia, and Beyond Good & Evil
• CH5 - "Focused on reclaiming position in casual and family-friendly games," including Just Dance, Idle Miner Tycoon, Ketchapp, Hungry Shark, Invincible: Guarding the Globe, Uno, and Hasbro

Additionally, the company says it has "4 new IPs currently in development, including March of Giants," a recently acquired MOBA originally made by Amazon.

"Taken together, these measures mark a decisive turning point for Ubisoft and reflect our determination to confront challenges head-on to reshape the Group for the long term," Guillemot said on today's call.

"It is a radical move, relying on a more decentralized creative organization with faster decision making and best-in-class cross functional core services supporting and serving each Creative House," he adds.

Reiterating previous comments, Guillemot says Ubisoft is focusing on "the two core pillars of our strategy, Open World Adventures and [games as a service]-native experiences." Additionally, Ubisoft will see "accelerated investments behind player-facing Generative AI," which the company demonstrated just recently with an AI companion briefing.

All of this aligns with previous remarks regarding Ubisoft regaining its creative edge following several years largely defined by lukewarm experiences that received more middling reviews.

"While these decisions are difficult, they are necessary for us to build a more focused, efficient and sustainable organization over the long term," Guillemot adds.

Former Assassin's Creed boss reportedly sues Ubisoft for nearly $1 million, alleging his departure was the result of "constructive dismissal" following an "unacceptable demotion."