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Square Enix’s bet on Marvel’s Avengers was an ambitious attempt to combine a story-driven superhero game with a continuing Games as a Service model. By November 2020, then-president Yosuke Matsuda said initial sales were below expectations and development-cost amortization and launch advertising had weighed significantly on the HD Games segment. In its 2021 annual report, the company said the project had not been as successful as desired and drew a lesson about matching game designs to the strengths and preferences of the teams making them.
What Square Enix was betting on
The plan joined two ambitions: tell an original Avengers story and keep the game going with cooperative play and continuing content. In January 2020, developer Crystal Dynamics described its commitment as an original story-driven campaign, engaging co-op, and compelling content “for years to come.” Square Enix’s later description of the project as an ambitious Games as a Service effort makes clear that this was more than a one-time campaign release: the company was taking on an ongoing-service model as well as a high-profile Marvel license.
That combination helps explain the “betting big” framing. It required substantial development and launch investment, while the service model made the game’s prospects depend on more than its initial release. The company’s public statements support that as a description of the risk, but do not quantify its expected return or break out the project’s lifetime profitability.
How the release plan changed
Marvel announced the game at E3 in 2019 with a May 15, 2020 release date. In January 2020, Square Enix moved the planned release to September 4, 2020, saying the additional time would be used to deliver the experience the team intended. The revised announcement named PS4, Xbox One, Stadia, and PC. Those were the platforms in the historical release plan; they do not establish what is currently sold or compatible.
#1 Best Overall
- Marvel's Avengers is a unique take on these iconic Super Heroes, including Captain America, Iron Man, the Hulk, Black Widow, and Thor. This character-driven story celebrates authentic Marvel heroism and humanity in a cinematic campaign filled with single-player and CO-OP missions.
- unlock powerful skills and new gear to build your ideal version of Earth's mightiest heroes. When combined with original, fan-favourite, and classic outfits, there are nearly limitless ways to customise these iconic heroes.
- up to four players can assemble online to defend the Earth from escalating threats. The narrative will be delivered over multiple years, With no random loot Boxes or pay-to-win scenarios. Every new Super hero and region will be delivered to players at no additional cost if you own The core game.
- Pre-order for Beta access. Beta access release date(s), duration(s), platform Availability, and region Availability to be announced
What Matsuda said about the financial impact
At Square Enix’s November 6, 2020 financial-results briefing, Matsuda said initial sales were below expectations. He also identified development-cost amortization for Marvel’s Avengers and a major advertising campaign at launch as significant factors in the HD Games segment’s results.
In the same briefing, Matsuda said: “Absent factors associated with ‘Marvel’s Avengers’ the sub-segment would have been in the black.” This is a statement about the HD Games sub-segment in that specific reporting context. It is not an audited estimate of the game’s lifetime loss, and it does not provide a standalone figure for the game’s total development or marketing cost.
Rank #2
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An analyst raised an estimate of roughly ¥7 billion in operating losses for the HD Games sub-segment in the second quarter, but Matsuda did not validate that estimate in his answer. It should not be treated as a company-reported loss figure.
What Square Enix said it learned
In its 2021 annual report, Square Enix described Marvel’s Avengers as an ambitious Games as a Service project and said it had not been as successful as desired. Matsuda wrote that taking on the model highlighted the need to select game designs that fit the distinctive attributes and tastes of the studios and development teams.
Rank #3
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The lesson was about organizational fit, not a claim that every live-service game is unworkable. A continuing service can demand different design and development capabilities from a self-contained story campaign. Square Enix’s retrospective says the company saw a mismatch worth learning from; it does not quantify how much any one factor—service design, development challenges, marketing, or sales—contributed to the result.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Why the timeline matters
- 2019: Marvel revealed the game and announced a May 15, 2020 release plan.
- January 2020: Square Enix revised the planned date to September 4, 2020.
- November 2020: Matsuda discussed sales below expectations and the effect of game-related costs and launch advertising on the HD Games segment.
- 2021: Square Enix characterized the project as an ambitious service effort that fell short of its aims and described a lesson about matching design to studio and team strengths.
This sequence matters because the financial comments came shortly after launch, while the annual report offered a later company reflection. Neither source supports turning the story into a precise calculation of the title’s lifetime financial outcome.
Quick Recap
Best Value
- Marvel's Avengers is a unique take on these iconic Super Heroes, including Captain America, Iron Man, the Hulk, Black Widow, and Thor. This character-driven story celebrates authentic Marvel heroism and humanity in a cinematic campaign filled with single-player and CO-OP missions.
- unlock powerful skills and new gear to build your ideal version of Earth
- up to four players can assemble online to defend the Earth from escalating threats. The narrative will be delivered over multiple years, With no random loot Boxes or pay-to-win scenarios. Every new Super hero and region will be delivered to players at no additional cost if you own The core game.
- Includes exclusive Obsidian Outfit Pack offering a new look for the Avengers, an Obsidian themed plate and 1-month free Marvel unlimited
Rank #4
- Available on September 4th, 2020 for PlayStation 4, plus PlayStation 5 owners can upgrade to the PS5 version of the game at no additional cost; Players can also enjoy cross-gen play between PlayStation 4 and PlayStation 5
- Marvel’s Avengers is a unique take on these iconic Super Heroes, including Captain America, Iron Man, the Hulk, Black Widow, and Thor; Unlock powerful skills and new gear to build your ideal version of Earth’s Mightiest Heroes
- Up to 4 players can assemble online to defend the Earth from escalating threats
Sources and what they establish
- 3DJuegos’ Spanish-language report attributes its discussion of Matsuda’s bet to a VentureBeat interview. The original interview text was not available to verify, so this article does not present paraphrases from it as Matsuda’s exact words.
- Square Enix’s November 2020 results briefing is the primary source for Matsuda’s comments on initial sales and the HD Games segment.
- Square Enix’s January 2020 announcement documents the revised release date and planned campaign, co-op, and ongoing content.
- Square Enix’s 2021 annual report provides the company’s retrospective on the service model and studio fit.
- Marvel’s 2019 announcement records the earlier release plan and platforms, which were later superseded by the January 2020 update.
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