Sky News reports that Nintendo’s shares dropped by 5% on the 15th December, knocking approximately $2 billion dollars off of their market value in Tokyo today. Partner DeNA Co., the company which helped Nintendo develop the title, also took a hit, with a reported drop in shares of 6.8 percent.
This is despite the fact that Super Mario Run is already the highest grossing app in 14 countries, and the top download on the App Store in 68, according to SensorTower. The game was made available on IOS devices across the globe yesterday, and early reviews have been largely positive.
While the initial three levels of Super Mario Run are available for anyone to try out for free, unlocking the full game costs $9.99, which may explain the lack of confidence from Nintendo’s shareholders. The title is also unavailable for Android devices, and requires users to be constantly connected to the internet in order to play.
The game’s official page on the App Store is currently replete with one star user reviews, largely complaining about the unexpected paywall required to unlock the remaining 21 levels.
Speaking to MCV, Niko Partners analyst Daniel Ahmad explained that “The upfront cost is something rarely seen in mobile games today that are targeting a large player base, as Nintendo clearly is through the promotions on the app store and use of their most popular mascot. The spending cap is certainly being seen as an obstacle stopping Nintendo from generating revenues as high as Pokémon Go back in July.”
It remains to be seen whether enough players are willing to invest in Super Mario Run’s uncharacteristically high asking price, but this recent news certainly doesn’t bode too well for Nintendo’s first foray into mobile gaming.