Unity的问题可以追溯到前CEO John Riccitiello的任期。Riccitiello于2023年底离职，其领导下的Unity被指失去方向，核心游戏引擎技术问题频出，同时还进行了数十亿美元的收购。这些问题导致客户不满情绪高涨，特别是当Riccitiello试图改变游戏引擎的定价结构，计划按每次游戏安装收费时，开发者的抗议达到了顶峰。尽管Unity随后取消了该计划并恢复传统的订阅软件模式，客户信任已经受损。Meme stock investors reinterpret the social media dynamics of "Roaring Kitty".
Investors in "MEME stocks" have once again interpreted the social media dynamics of "Roaring Kitty" focusing this time on Unity Software (U.US). According to the Zhito Finance APP, on Wednesday, Keith Gill (also known as "Roaring Kitty") posted a short animation on his X account featuring a comedian impersonating Rick James, who has a song titled "Unity." Following this post, Unity's stock price surged by 16% on Thursday.
Although Roaring Kitty provided a short-term boost to Unity's stock price, it does not solve Unity's core issues. The company primarily sells game development platforms and provides advertising monetization tools for mobile game publishers. In 2024, Unity is one of the worst-performing Technology stocks, with its stock price dropping by 45%, far trailing the Nasdaq Composite Index's increase of 29%, and unable to compare with its competitor AppLovin (APP.US), which surged by 713%.
The problems at Unity can be traced back to the tenure of former CEO John Riccitiello. Riccitiello departed at the end of 2023, during his leadership, Unity was criticized for losing direction, facing frequent core game engine technology issues, while also making several billion-dollar acquisitions. These problems led to surging customer dissatisfaction, especially when Riccitiello attempted to change the pricing structure of the game engine, planning to charge per installation, prompting developers' protests to reach a peak. Although Unity later canceled this plan and restored the traditional subscription software model, customer trust had already been damaged.
Additionally, Unity is facing multiple challenges, including business restructuring, layoffs, and the new CEO's assumption of office, but these measures are unlikely to repair customer relations in the short term. Many developers have expressed plans to abandon Unity after experiencing uncertainty in pricing structure and stagnation in game engine improvements.
Unity's performance struggles are also reflected in its Earnings Reports. According to the latest quarterly report, Unity's revenue decreased by 18% year-on-year, and it recorded a GAAP net loss of $0.125 billion. Additionally, the rapid development of generative AI poses a threat to Unity's future. Analyst Mike Hickey from Benchmark noted in a recent report that generative AI "has the potential to disrupt traditional platforms like Unity," believing that Unity may be surpassed by competitors utilizing AI for game development.