This is the latest in a series of big changes at the company, one of which was the fact that Bungie split from Activision to self-publish earlier this year. We already knew that Activision was disappointed with the sales of Destiny 2, but now Coddy Johnson - President and Chief Operating Officer at Activision Blizzard - has revealed a few more details on the matter.
Speaking in the recent financial earnings call, as reported by MP1st (originally from Seeking Alpha), Johnson said that selling the commercial rights back to Bungie was a part of their overall strategy. They didn't own the Destiny IP after all, which meant they it didn't give them the "chance to move with new experiences and new engagement models which also come with new revenue streams and of course structurally higher economics when you own the IP."
Johnson also describes Destiny as "highly critically acclaimed, high quality content, but it was not meeting our financial expectations. As we went through at the end of the year our financial planning for 2019, it indicated that Destiny would not have been a material contributor in operating income to our business."
What's more is Johnson also explained that internal resources were going towards Bungie's game, which meant resources that could have been used elsewhere. Under the new agreement these will be freed up during a transition period, so they can be used in other areas.
Do you think this was the best deal for everyone?