A new report sheds more light on the situation at Xbox that led to the big news this week that Microsoft was cutting 3,200 jobs at the gaming company, divesting from studios, and making other cutbacks to "reset" the business.
Bloomberg reported that Microsoft spent "nearly $80 billion" in the past 10 years on deals to help revitalize Xbox and realize its dream for Xbox Game Pass, but those plans did not pan out the way Microsoft envisioned.
Xbox CEO Asha Sharma said this week that the big bets made under previous leadership–including Game Pass, acquiring studios, and putting its games on rival platforms–"did not grow at the pace we expected." Sharma said these efforts drove "meaningful value," but that wasn't enough with the growth piece.
To that end, Microsoft said in a filing from the Microsoft-Activision acquisition proceedings that it was aiming to have 77 million Game Pass subscribers by the end of fiscal year 2026. That was on June 30. What was the number of subscr
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