Funcom has released their Q1 2013 financial details and the news is…good? Revenues have almost tripled compared to the same time last year thanks to the launch of The Secret World last year, which along with Age of Conan now make up the bulk of Funcom’s revenue. As many of you know, Funcom consolidated its live teams to the hub in Durham, North Carolina. Moving forward, the focus is on the developer’s currently operational games as well as a small number of titles currently in development.
As per the above, the company expects the positive effect from the restructuring to materialize in full in the second half of the year. However, significant cost savings were realized in 1Q13 and the operating costs decreased by 1,197 TUSD compared to the previous quarter and by 2,232 TUSD compared to 1Q12.
The Secret World enjoyed its first full quarter under the new buy to play system, increasing player numbers and retention along with the launch of Issue #6: The Last Train To Cairo. Issue #7 releases this summer. Anarchy Online experienced a server merger which increased activity and players on the remaining servers. Funcom continues to work on the major engine upgrade to Anarchy Online. The Lego Minifigures MMO is on schedule for release and is currently in development for the PC in both client and browser form, as well as tablets.
One of Funcom’s lesser known titles, Fashion Week Live, was sold to 505 Games in Q1 2013. Funcom’s Montreal studio is currently working on bringing the Dreamworld technology to tablets, opening new opportunities for the developer. Funcom expects more cost reductions and lower revenues in the second quarter.
(Source: Funcom Finances)
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