SEGA can't continue relying on nostalgia, according to the publisher's president Mike Hayes.

Speaking to Gamasutra, he explained:

"We have had experiences where we've tried to reinvent old Sega IP ... Actually, we haven't done it hugely successfully.

"And therefore we only embark upon something that uses the existing Sega IP if we can make it highly relevant for a modern audience."

Hayes goes on to say that SEGA hasn't been able to find its footing in the last few years.

"I think we realized about three or four years ago where we were perhaps going wrong on certain platforms, mostly PlayStation and Xbox. And I think it was because we didn't actually realize that we've got these two broad audiences.

"We were trying to make something that the whole fan base to enjoy it, but then maybe ten year olds will play it, and it was just like oil and water. I think what we've understood now is that we need to try and drive the product in two ways."

Using Sonic 4: Episode 1 as an example of a game designed for gamers who grew up on the franchise, however the publisher doesn't plan to cash in with modern remakes of old titles.

"To try and reinvent something, we have to create a whole new game, and therefore we're very selective of what we do.

"When Sonic 2 came out, that was the Call of Duty of its time; that was the first core game. Gaming has moved on, Sonic is still as relevant now as he was then, but the way in which you play is different. The relevance is completely different, and Sonic's never going to become a 'modern Call of Duty' as he was then."

SEGA currently has a multi-title deal with Platinum Games, which has so far produced Madworld, Infinite Space, Bayonetta, Vanquish, and Anarchy Reigns.