Whew boy, things have not gone well for the peripheral manufacturer and co-publisher of Rock Band 4. In an earnings report that was presented last night, the company revealed that sales of Rock Band 4 were significantly less than projected. What’s more, the under-performing title required extra marketing at retailers, which cost the company enough for that fact to be mentioned. This has resulted in Mad Catz culling 37% of their workforce in a bid to save $5 million over the next year.
Hours before the financial report was scheduled to begin, the company’s top three executives resigned. President and CEO Darren Richardson, senior VP of business affairs Whitney Peterson, and company chairman Thomas Brown all departed from Mad Catz.
It was always a gamble to revive the rhythm genre, and in the case of Rock Band 4, Mad Catz and Harmonix, it looks like that gamble has had very negative consequences.