Tencent Closes TiMi Montreal Studio Amid High Development Costs
Chinese tech giant Tencent has officially closed its TiMi Montreal studio, marking a significant retrenchment in its North American operations. The closure comes as the company grapples with persistently high development costs in the region. Established in 2021 and led by former Assassin’s Creed creative director Ashraf Ismail, the studio was originally positioned as a hub for developing AAA open-world, multi-platform games. However, over its operational period, it failed to release any standalone titles, instead contributing to existing projects like Pokémon Unite and Call of Duty: Mobile. Several former employees have confirmed the shutdown on social media, although Tencent has not yet issued an official statement. This move follows a broader pattern of adjustments to Tencent's overseas strategy, including the closure of its Los Angeles-based studio in 2023. The decision highlights the challenges major gaming corporations face in sustaining expensive international development centers without immediate commercial successes. Industry observers note that this contraction reflects a cautious approach to global expansion amidst economic pressures and shifting market dynamics in the gaming sector.
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Tencent Closes TiMi Montreal Studio Amid High Development Costs
Chinese tech giant Tencent has officially closed its TiMi Montreal studio, marking a significant retrenchment in its North American operations. The closure comes as the company grapples with persistently high development costs in the region. Established in 2021 and led by former Assassin’s Creed creative director Ashraf Ismail, the studio was originally positioned as a hub for developing AAA open-world, multi-platform games. However, over its operational period, it failed to release any standalone titles, instead contributing to existing projects like Pokémon Unite and Call of Duty: Mobile. Several former employees have confirmed the shutdown on social media, although Tencent has not yet issued an official statement. This move follows a broader pattern of adjustments to Tencent's overseas strategy, including the closure of its Los Angeles-based studio in 2023. The decision highlights the challenges major gaming corporations face in sustaining expensive international development centers without immediate commercial successes. Industry observers note that this contraction reflects a cautious approach to global expansion amidst economic pressures and shifting market dynamics in the gaming sector.
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