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TikTok maker ByteDance is restructuring its video game business
27.11.2023 - 16:17 / gamedeveloper.com
TikTok maker ByteDance is restructuring its video game business to deliver "long-term strategic growth."
Reuters is reporting the Chinese company plans to shut down its Nuverse gaming brand and exit the mainstream game market.
Nuverse is the parent company of studios including Mobile Legends: Bang Bang developer Moonton and Houchi Shoujo maker C4Games. It has also published globally recognized titles like Marvel Snap and Warhammer 40,000: Lost Crusade.
Four sources familiar with the company's plans claim ByteDance will soon end development on any unreleased titles and look for ways to divest projects that have already launched.
They suggested hundreds of workers will be impacted by the decision to wind down Nuverse and indicated ByteDance has no intention of returning to the video game market.
When approached for comment by Retuers, ByteDance didn't discuss specifics but confirmed it has "made the difficult decision to restructure our gaming business."
"We regularly review our businesses and make adjustments to centre on long-term strategic growth areas," it added.
ByteDance invested heavily in Nuverse since the turn of the decade, acquiring multiple studios and sanctioning hefty investments in others.
As the ongoing trend of mass layoffs across the industry has shown, however, investment and acquisitions are often the precursor to job cuts and game cancellations in pursuit of growth.
ByteDance is no exception. Back in June 2022, the Chinese company shuttered Shanghai-based developer 101 Studios, putting over 100 jobs on the chopping block. A few months later, the South China Morning Post reported the company had also made layoffs at its Jiangnan Studio in Hangzhou.
Game Developer has reached out to Nuverse for more information on ByteDance's restructuring efforts.
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