Funcom has released their third quarter financial performance and the results are up and down. Revenue is down from $7.5 million last year to $5.4 million this year which can be blamed on Conan Exiles having a strong launch in Q2 and Q3 of 2018. Funcom did not launch a title in Q3 2019, however they did admit that Conan Unconquered has underperformed to Funcom’s expectations.
Funcom’s MMO library has been relegated to a tiny corner of their report, simply mentioning “community events” for activities encompassing Age of Conan, Secret Worlds Legends, and Anarchy Online (The Secret World isn’t referenced at all). The financial report also notes that Tencent recent acquired a 29% stake in Funcom over the quarter, offering no cash infusion to Funcom itself as the stocks were purchased from KGJ Capital AS.
“We are very pleased to see Tencent come in as the largest shareholder of Funcom. Tencent has a reputation for being a responsible long-term investor, and for its renowned operational capabilities in online games. The insight, experience, and knowledge that Tencent will bring is of great value to us and we look forward to working closely with them as we continue to develop great games and build a successful future for Funcom.“ Rui Casais
After quarter activities so far have included the launch of 2015’s The Park on Nintendo Switch, as well as the release of Moons of Madness on Steam. The report does not discuss sales figures, however Steamspy estimates 20,000 to 50,000 total sales and Steam charts show the game peaking at 519.
Funcom’s upcoming titles include a Dune open world title that is currently in pre-production, a cooperative shooter set in the Mutant: World Zero IP, Conan Chop Chop set for launch in Q1 2020, Moons of Madness releasing on consoles in January, and two unnamed titles in development by Games Farm and The Outsiders, a studio created by former Battlefield developers.
Source: Funcom
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