Pixel P&L: Square Enix Restructure, Crunchyroll Price Hike, Prince William Plays Rocket League

Welcome to another Pixel P&L edition. This issue takes 6 minutes to read. If you only have one, here are the 5 most important things:

• Square Enix sees profits jump 39% despite revenue dropping 13%, as its restructuring plan takes hold.

• Crunchyroll launches original games while raising subscription prices up to $2 across all tiers.

• One Piece topped Netflix's most-watched anime list with 643 million hours viewed across 2025.

• Unity beats revenue guidance with $503 million in Q4, but co-founder David Helgason exits the board.

• U.K. 's Prince William played Rocket League against the Saudi esports chief during a diplomatic visit. 

Let's get into it.

Square Enix posts higher profits on lower revenue as restructuring takes hold

Square Enix reported a 13.3% drop in net sales to ¥215.4 billion ($1.4 billion) for the nine months ended December 2025, extending a decline that followed last fiscal year's five-year revenue low. New titles underperformed, and the company's mobile and browser games business continued to weaken.

Profitability moved in the opposite direction. Operating income rose 39% to ¥46.3 billion ($295.7 million), driven by stronger catalog sales and diversified payment methods in its Digital Entertainment division. Profit reached ¥25.6 billion ($165 million), already exceeding last year's full-year figure with one quarter remaining.

The results arrived midway through a restructuring plan that includes closing overseas studios and consolidating development in Japan, which accounts for 52% of digital entertainment sales. Square Enix raised its full-year profit forecast to ¥55 billion ($351 million) from ¥41 billion, while keeping its revenue target unchanged at ¥280 billion.

Crunchyroll bets on original games as it raises subscription prices across the board

Crunchyroll, Sony's anime streaming arm, plans to develop original video games under a new Crunchyroll Games label, with titles built alongside Japanese publishers and global creators. More details are expected later in 2026.

The games will launch exclusively in Game Vault, a mobile gaming library bundled with higher-tier subscriptions. The library has grown from roughly 50 titles in early 2025 to about 80, with a target of 100 by summer 2026. Upcoming additions include Beyblade X XONE and Lost Hellden, both debuting on mobile.

The gaming push arrives alongside Crunchyroll's first base-tier price increase since 2019. U.S. plans now range from $9.99 to $17.99 per month, a $2 hike across all tiers. The company dropped its free ad-supported option at the start of 2026.

With 17 million paid subscribers and a global anime market projected to reach $93.49 billion by 2031 according to Research and Markets, Crunchyroll is following Netflix's playbook: using games to justify higher prices and hold onto paying members.

⚡️Quick Bytes

One Piece tops Netflix's most-watched anime list with 643 million hours

One Piece logged 643.3 million hours viewed across 2025, making it Netflix's most-watched anime series, according to the platform's biannual viewership reports. Naruto Shippuden followed at 626 million hours, with Demon Slayer at 598.3 million. The franchise's momentum continues into 2026 with the anime's Elbaph Arc debuting April 5 and live-action season two premiering March 10.

Unity Q4 revenue rises 10% to $503 million, beating guidance

Unity reported fourth-quarter revenue of $503 million, up 10% year-over-year, exceeding the high end of its own forecast. Grow Solutions revenue climbed 11% to $338 million, powered by its Vector ad platform, while Create Solutions grew 8% to $165 million. The company still posted an $89 million net loss. Co-founder David Helgason and IronSource founder Tomer Bar-Zeev both stepped down from the board.

Prince William competes in Rocket League match against Saudi esports chief

U.K. 's Prince William played a Rocket League match against Saudi Esports Federation Chairman Prince Faisal during a three-day visit to Saudi Arabia, losing 2-0 in a Team UK vs Team Saudi fixture at the SEF Arena. The ceremonial match followed a tour of the federation's academy, where the Prince of Wales met young Saudis in esports training programs. The visit signals esports' growing role in Saudi-UK diplomatic engagement.

⚔️Side Quest

🤣Laugh:

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💡Did You Know

Video games are now a school subject in Saudi Arabia. The Kingdom is integrating game development and esports into its national curriculum, teaching students coding, game design, animation, and digital storytelling alongside traditional subjects. The initiative is part of Saudi Arabia's push to build a local talent pipeline for an industry that generates more revenue than film and music combined. While countries like South Korea, the U.S., and the UK run esports programs in schools, Saudi Arabia's classroom-level integration is among the most ambitious. Students won't just play games, they'll learn how to build them.

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