Worms and Hell Let Free writer Team17 has launched its monetary report for the six months ending June thirtieth, and it seems to be just like the studio is fairly closely reliant on its again catalog for revenue proper now.
In Team17’s monetary outcomes presentation, the studio says that simply 8% of its income within the first six months of 2024 got here from new releases, constituting round £6 million (roughly $8 million).
In contrast, 92% of Team17’s income, amounting to about £74 million (that is round $98 million), for this era got here from again catalog releases, which basically means any recreation launched previous to January this 12 months.
The studio places this right down to “a aggressive market with a troublesome FY23 comparator”, doubtless indicating that Team17’s 2023 launch schedule was stronger for the primary half of the 12 months; it did, in spite of everything, embody cozy horror recreation Dredge and 2000s shooter tribute Trepang2.
Team17’s again catalog, nonetheless, “carried out very nicely”, in line with the studio. Again catalog gross sales have been up 30% within the first half of 2024, apparently pushed by “glorious lifecycle administration and shopper habits”, in line with the presentation.
In reality, Dredge and Trepang2 each now represent a part of Team17’s again catalog, as does final November’s Blasphemous 2, which I reviewed for this very website. These video games, in addition to others, “delivered robust performances”, Team17 says.
Based on Team17, the primary six months of 2024 evidenced “decrease expensed improvement and advertising and marketing prices” for the studio, with a “vital discount in expensed improvement prices” occurring on account of “studio price restructuring and ongoing price controls”.
Close to its future, Team17 says it should “double down” on its “indie focus”, and that it’ll additionally “prioritize evergreen franchises”, which is sensible given the disproportionate gross sales impression of its again catalog thus far this 12 months.
You are additionally going to see extra mergers and acquisitions from Team17, in addition to a “sharpened greenlight course of”. We’ll have to attend and see what all this implies in sensible phrases, however within the meantime, you’ll be able to learn Team17’s full half-year monetary report right here if you want.