Funcom publishes sharp revenue drop for Q3
has released its financial results for Q3, and it's not pretty. Revenue was down 68.5% to 5.7 million USD, and expected to drop even more in Q4. This time last year they were reporting a profit of $3.3 million, a strong contrast to the current $9.6 million loss. They see a few reasons for this drop, including some stiff competition: "The Company ran a successful re-evaluation campaign during July, increasing the number of subscribers to the game. However, the launch of two major competing MMO-games during Q3 led to a subsequent reduction in subscriber levels."
Funcom remains optimistic, though, thanks to numerous upcoming projects. The Secret World is reported to be "progressing well", Age of Conan is planning a launch in Korea, the "Rise of the Godslayer" expansion for AoC is on its way, and Funcom recently received a grant to create an extreme sports MMO.
The full report can be viewed here.
