Tequila Works' bankruptcy is part of the video game

Tequila Works’ bankruptcy is part of the video game industry’s worst crisis in years.

Madrid-based studio Tequila Works’ bankruptcy was one of the day’s surprises, but industry watchers won’t be surprised. The developer of ‘Deadlight’ and ‘Rime’ is one of many video game companies that have fallen from grace recently.

Management change. Last week, Térence Mosca became general manager, while founders Raúl Rubio and Luz Sancho resigned. The studio released ‘Song of Nunu’ a year ago with Riot Games, creators of ‘League of Legends’ The cancellation of two of their planned projects caused Tequila’s bankruptcy.

Dominoes. The chaos began in early October when Riot Games canceled one of its games due to staff loss. Riot Games closed Riot Forge in January, which produced the Tequila games and focused on ‘League of Legends’ spin-offs. The announcement was made on Linkedin and was the last of a series of layoffs. We lost 11% of staff, 540 jobs.

“Prolonged market conditions.” Térence Mosca, representing Tequila, blames these conditions for the studio’s closure. He adds that they’re “proud of what we have accomplished together” and “We are doing everything we can to offer support and guidance to our teams in these difficult times.” Tequila Works says it won’t comment beyond the statement. We contacted the former studio management and will update this post if they respond.

Bad times for Spain’s industry. Tequila signed the two best-selling Spanish video games in history, ‘Deadlight’ (4,900,000 copies) and ‘Rime’ (4,000,000 copies), making their bankruptcy significant. Tencent acquired a portion of Novarama, the Spanish studio that created the ‘Invizimals’ franchise, in March 2022, and Novarama closed. The Spanish Video Game Trade Union Coordinator also mentioned Smilegate Barcelona and ERES like Codigames and Pendulo Studios. The May Devuego survey found that over half of those laid off in the sector in our country were still unemployed.

13,000 international layoffs. Including recent events like NaturalMotion, Cryptic Studios, and Tequila Works, the Game Industry Layoffs website estimates these numbers. 2024 has been a devastating year for the industry ( 10,500 layoffs in 2023, 8,500 in 2022), with massive layoffs like Microsoft’s (around 4,000), Sony’s (900), and EA’s (650). A deep crisis caused by post-pandemic excesses and investments being rebalanced.

It howled Yeti-like. Before Stadia, it was Yeti. The roar came from racks, metal frames that house a device’s electronics, in this case the development kits for the long-awaited Google platform. With hope and dread. Because the big question floats like a coin: Will it pull?

Tequila Works, the only Spanish studio to present Stadia, believes it. The studio believes ‘Gylt’, its exclusive Stadia game, is its first Next Generation game. Beyond PlayStation 4 and Xbox One in graphics and AI.

The highly anticipated ‘Death Stranding’ by Hideo Kojima premieres in November 2019, so we must wait until then to prove it. Google will need to prove its 1080p, 60 fps product is sufficient. Two figures the average user would be happy with, compared to a competing AAA, presumably weaker PlayStation 4 and Xbox One.

To learn about developing for Stadia and sometimes encountering NDAs, we met with Tequila Works’ ‘Gylt’ leaders. The creative directors of Tequila Works, ‘Gylt’, Isaac Fernández, Raúl Mellado, and Estefanía Salcedo met with Xataka for an hour in the studio’s meeting room. This is what we gained.

From Barcelona to Madrid, 60 fps
“They’re still going to make me look bad.” When Stadia visited Tequila Works’ offices, founder and creative director Raúl Rubio recalled a half-joking thought. His team doubted Rubio: “Come on, the latency, it can’t be, the streaming doesn’t work…” Stadia ran at 1080p 60fps.

Tequila Works’ bankruptcy is part of the video game

By knl9j

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