Tencent-backed TiMi Montreal is closing, just four years after it opened. The studio never released a game and highlights a trend of Chinese companies reducing their investments in North American gaming.
The news broke on LinkedIn. A programmer expressed sadness, saying, “I am genuinely heartbroken that the public will never get to experience what this team was capable of producing.” Many shared the sentiment, noting the talent and dedication of the team.
Founded in 2021, TiMi Montreal aimed to develop multi-platform AAA games. It joined TiMi’s other North American branches in Los Angeles and Seattle. Known for hits like Honor of Kings and Arena of Valor, TiMi was trying to enter the big-budget space, hoping to attract talent from local companies like Ubisoft.
Ironically, the studio was seen as a prime opportunity to tap into Ubisoft’s talent, especially with the hire of Ashraf Ismail in 2022. He was previously the creative director for Assassin’s Creed Valhalla and had a controversial departure from Ubisoft.
Unfortunately, TiMi Montreal never revealed a game in progress. Its L.A. counterpart, Team Kaiju, faced a similar fate and was shut down in 2023. The rising costs of development in the U.S. market and competition from companies like NetEase have made it challenging for studios to sustain themselves.
A recent survey from the International Game Developers Association showed that nearly 60% of game developers face funding issues. This highlights the tight financial landscape that many studios are grappling with.
The closure of TiMi Montreal serves as a reminder of the unpredictable nature of the gaming industry. As competition intensifies and costs rise, studios may have to rethink their strategies and approaches to survive.
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