Destiny 3 hits early development amid Destiny 2 falling $200 million short of expectations

Bungie is currently going through a rough patch, with Sony recently confirming that the once-esteemed studio has fallen $200 million short of expectations, and most of that shortfall can be attributed to the declining performance of Destiny 2.

Sony stated during a recent earnings call that Destiny 2's underperformance has resulted in Sony having to record a $204 million impairment loss against Bungie's assets, which means that Sony has put on the books that Bungie's assets are now worth $200 million less than what it originally valued them at when it purchased the studio in 2022.

Most of that reduction in value can be attributed to the declining Destiny 2 player base, which has shrunk from the once-316,000-player peak nearly three years ago to just 15,000 daily players today. Despite Destiny 2's struggles, leaks have surfaced suggesting that Destiny 3 is in very early stages of development, with two separate sources, Colony Leaks and CheddaLeaks, both writing in X posts that Destiny 3 is in the works at Bungie.

So, when will it release? According to the leakers, not any time soon, with an expected release date around 5 years away. However, a timeline hasn't even been established yet.