Funcom reveals poor sales for The Secret World
Market, critics to blame as company loses money on MMO
Posted by Alex 'SpectralShock' V on Aug 29, 2012 - 3:03pm EST (Aug 29, 2012 15:03)
Funcom's financial reports for Q2 2012 showed falling revenue behind disappointing sales for their new subscription MMO, The Secret World.
The game has sold just 200,000 copies since its launch on June 29, despite more than double that number of gamers signing up for the beta.
"Initial sales of The Secret World have been below expectations, as communicated in the stock notice of August 10. The Company still considers it likely that sales for the 12 months period following launch of the game will be less than half of what was presented in the Conan-like scenario in 1Q presentation," said Funcom.
Lower than expected scores in the press, and the proximity and popularity of the Diablo III and Guild Wars 2 launches were blamed for the disappointing sales.
The publisher added: "Funcom will concentrate it's new development on more focused, systems-driven games that have a high degree of community and player interaction. These games require less time and development cost to bring to market."
Funcom will also be making cost-cutting measures due to lower profits, including staff cuts that are already underway.