Wall Street analyst: Destiny 2 is “struggling” and “not in a good place” right now


Developer missteps, microtransactions, and a lack of communication are being blamed for Destiny 2’s struggles, according to a Wall Street firm analysis.

The analyst, Doug Creutz of Cowen, said that “Destiny 2 is struggling right now with player engagement appearing to be on the wane,” in a note to clients on Tuesday.

Creutz also noted that Twitch viewership for the series is at a “franchise-low” with just 4,000 to 7,000 viewers last week, down from 14,000 to 17,000 for Destiny 1 just one year ago. This is only exacerbated by the fact that several key Destiny content creators, both Twitch streamers and YouTubers alike, have begun to move on from the game.

Creutz gave four specific examples of why he believes the game is faltering, and they seem to ring true. First, key aspects of the D2 end game “feel neutered compared to D1.” Player complaints since a few weeks after launch in September line up with this fairly well.

Related: Destiny 2’s latest Faction Rally only offers one new weapon

Secondly, microtransaction implementation has turned off a fair amount of the playerbase. This was especially true during the first few weeks of the Curse of Osiris DLC and The Dawning winter event.

Bungie has also been slow with responding to feedback and presenting a road map moving forward, although it has gotten better in recent weeks. Creutz believes the damage has already been done, however.

“We do think Bungie still has some opportunity to fix the game’s problems over the next year and recapture engagement, but we’re not sure they have the ability to pull it off at this point,” said Creutz. “We also note that Destiny currently has more serious competition in its genre from a refurbished Division and the indie title Warframe than it did three years ago, when D1 had its own share of player dissatisfaction.”

With EA’s Anthem set to release some time in the fall of 2018 as well, Destiny now has more competition than ever in the “looter shooter” genre, and it will be a steep climb back to the top, if at all possible.