U - Why Unity Software Stock Dropped 12% This Week
2023-09-21 18:21:46 ET
Shares of Unity Software (NYSE: U) are down 12% this week as of Thursday's close, according to data provided by S&P Global Market Intelligence , after the company announced it would backtrack on recent impending changes to its pricing structure.
For perspective, on Sept. 12, 2023, Unity announced plans to introduce a new runtime fee for clients starting in 2024 based on the number of game installs.
"We chose this because each time a game is downloaded, the Unity Runtime is also installed," Unity wrote in the initial blog post explaining the fees. "Also we believe that an initial install-based fee allows creators to keep the ongoing financial gains from player engagement, unlike a revenue share."
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Why Unity Software Stock Dropped 12% This Week