Swedish industrial giant Embracer Group struggled in the spring when it became clear that it had missed a major deal, sending its shares tumbling. We already know that some studios, projects, etc. will be impacted as a result. The company’s CEO Lars Wingefors confirmed that times ahead will be tough, but it seems he sees this as a necessary evil – all so Embracer can become more focused. Now it’s clear that the focus is on Lord of the Rings.
According to newly appointed chief executive Matthew Karch, it’s now a question of milking brand value, saying at a press conference:
“IVery confident that this whole process will easily translate into better product selection, be more profitable, provide us with greater opportunity for future growth, and help leverage the intellectual property we have within the organization,” “IMeaning, we have The Lord of the Rings, we know we need to take The Lord of the Rings in a really significant way and turn it into one of the biggest gaming franchises in the world, which is obviously what we’re going to do.
Finally, he also emphasized that this new unified vision is the best path forward for the company.
“So it’s a much better use of resources than some of the other projects that some of our teams have been working on. So working together, we have these opportunities and we’re very pleased to see them play out relatively quickly.
So, what do you think of the future of The Huggers and The Lord of the Rings?