Sony records $765M Bungie impairment after Marathon launch

Sony recorded a $765 million impairment on Bungie in its fiscal 2025 results after the studio’s first PlayStation release, Marathon, underperformed following a troubled development and launch. The impairment was recorded as a reduction in the carrying value of Bungie and reflected as a loss against net income for the fiscal year.

Sony reported that its gaming business posted a 12 percent year-on-year increase in operating income. The company said that excluding the Bungie impairment, gaming operating income would have risen by about 45 percent.

Bungie was acquired by Sony in 2022 for roughly $3.6 billion. Marathon was the studio’s first title released under the PlayStation banner. Reported development costs for the project exceeded $200 million, and the release experienced delays and disputes over art and creative decisions during production.

Marathon has been described as an extraction shooter and has received positive feedback from some players and critics. Publicly available player and sales data for the game are limited, and Sony did not provide detailed unit or revenue figures for Marathon in its fiscal filing.

Bungie has reiterated its commitment to Marathon, stating it plans ongoing support for the title. Sony’s financial disclosures did not specify additional investment levels or any restructuring measures for Bungie.