For much of the modern corporate era, brand has been treated as surface area. A story told outward. A set of signals designed to persuade, attract, and differentiate. When companies spoke about brand, they were usually talking about perception: how they looked in the market, how they sounded, how they were received. That framing made sense in a world where markets moved a little more slowly, organizations were stable, and leadership could afford to separate strategy from culture, product from meaning, execution from belief.
After a short delay, Ubisoft has posted its first-half earnings figures for 2025-2026. The company says that its Q2 net bookings exceeded expectations and its deal with Tencent to invest $1.2 billion in Vantage Studios--a new subsidiary focused on its three main franchises--is expected to close within a few days. Ubisoft says that its Q2 net bookings were up 39% year-on-year, driven by stronger-than-expected performance across its games catalogue and TV projects.