I recently ran an article about the problem with decade long development cycles in which I shared my fears that, despite Persona’s newfound mainstream popularity, it would still take a very long time to get a new installment in the franchise. This was partly due to the fact that the key players at Atlus’ P-Studio were now working on a brand new IP. This happened previously with Catherine, a game that Atlus’ Persona team released in 2011 and that took time away from the development of Persona 5, which started full development around 2012/2013 with the last entry, Persona 4, having released in 2008 stateside.
This new IP, Project Re Fantasy, aims to go back to the very roots of JRPG’s from the 80's and 90's while putting a spin on it for modern audiences. It was a logical conclusion to make that the development of this game would take away from the development of a Persona 6, after all the three team leads are on that project. However, it was revealed in December 2016 that Project Re Fantasy was not being developed by P-Studio, but instead by a brand new team called Studio Zero. You can find the article here: