By Adam Smith on February 3rd, 2012 at 11:18 am.
Times are hard at THQ and that’s relative to the general hardness of the hour for the majority of people who rely on one of the world’s known currencies to secure food and shelter. The publisher is under threat of NASDAQ delisting, with its stock currently below $1 a share, and over the next year 240 staff will be losing their jobs. The company has shared its release schedule, which shows that Metro: Last Light is now scheduled for an early 2013 release. Other releases of note are the new game from Left 4 Dead’s Turtle Rock. That’s due between April 2013 and March 2014, as are Dark Millennium Online and Del Toro’s inSANE. Before April 2013, it’s Metro and “unannounced core titles”.
Losses in the last quarter were $55.9 million, compared to $14.9 million in the equivalent quarter the previous year. However, with the success of Saints Row: The Third, the company has stated its commitment to “core IP” rather than continuing its ill-fated move into family-focused titles, particularly those on the uDraw GameTablet.
By outlining a release schedule that looks so far ahead, THQ will be hoping investors have faith that it will be able to survive until its next batch of major releases are ready to make some money. As for Dark Millennium Online, which was rumoured to be cancelled recently, Eurogamer confirm that a partner is being sought to help complete the title.
As I see it, THQ now need to convince all and sundry, developers included, that they have the resources in place to fund their upcoming titles. It’s sad that the successful release of the madcap glory of Saints Row: The Third hasn’t been enough to mitigate the disastrous losses from uDraw’s 360 and PS3 release, but hopefully it will help refocus the remaining resources on titles of similar quality.
The stated reason for the lengthy delay to Metro, which has been pushed back from a summer 2012 release, is a need for more polish. Perhaps that’s a positive sign, with the publisher not feeling it necessary to rush titles to release. 4A Games have commented: “[The release] may be a little later than you were expecting, but trust us – the wait will be worth it! You’ll be hearing a lot more about Metro: Last Light closer to E3, so please be patient. We can’t wait to show you what we’ve been up to.”
As always in these situations, we wish the very best to those whose jobs may be affected.
03/02/2012 at 11:22 HexagonalBolts says:
Please, Gods of capitalism, let Metro live.
03/02/2012 at 11:29 Tyrone Slothrop. says:
You free market fundamentalist!
03/02/2012 at 13:18 Raiyan 1.0 says:
I think it’s time to buy a bunch of THQ shares.
03/02/2012 at 13:36 adonf says:
@Raiyan: Definitely. I’m investing my kids’ college fund.
03/02/2012 at 14:00 Lev Astov says:
@Raiyan: I was thinking the exact same thing.
03/02/2012 at 15:05 Raiyan 1.0 says:
Come to think of – companies always try to please shareholders, right? We should buy all the shares of THQ, and make them develop games of our liking!
Think of it! The next Warhammer game could be turn-based tactical! Metro could take up STALKER’s mantle! Homeworld 3!
Not to mention every single Bratz games for the PC OH YEEEAAAAHHH!
03/02/2012 at 15:52 LegendaryTeeth says:
Free. Space. Three.
03/02/2012 at 16:21 Styles says:
*droooool*…..tuuurn based tactical warhammer 40k…….yeeesssss!
03/02/2012 at 16:24 Ultra Superior says:
The next Warhammer game could be turn-based tactical!
DROWNING IN DROOOOOOL
03/02/2012 at 17:04 GenBanks says:
I can’t believe nobody has mentioned Company of Heroes yet.
03/02/2012 at 21:10 Mr_Initials says:
We just need 8 million to get majority share if I am reading the stocks right. Quick set up the lemonade stand!
03/02/2012 at 11:24 UnravThreads says:
I thought it was a case of uDraw was successful *until* someone decided to bring it to the two big consoles?
03/02/2012 at 11:29 Adam Smith says:
True enough. Didn’t intend to imply otherwise but have edited for ultra-clarity.
03/02/2012 at 11:29 Bluerps says:
One thing they shouldn’t have done: Putting a region lock on Saints Row: The Third. Not that I think that that cost them a large number of sales, but still – customer friendly it ain’t. I often order boxed games (yes, I’m one of those strange gamers that still likes to have boxes) from the UK, and if I have to send a game back, because Steam refuses to activate it, then I sure as hell won’t buy it again in the local (german) version.
03/02/2012 at 11:32 Shortwave says:
I’d give the last of my monies out of my pocket this minute if it’d help the guys who make Metro..
>.< Seriously. I've been looking forward to this game more than anything this year..
03/02/2012 at 11:38 Koozer says:
They’re going to rush out Dark Millennium Online as a buggy mess in the vain hope it will make them some some short-term cash, but ultimately sinking them when noone’s playing after a month, aren’t they?
03/02/2012 at 11:46 Dowson says:
Well its sort of nice to see people realising the casual market isn’t as big a cash cow as people thought, and realising core gamers will always exist and be buying products.
03/02/2012 at 13:20 Raiyan 1.0 says:
Not to mention all the money Zynga has been losing recently.
The casual bubble is about to burst for quite a few people.
03/02/2012 at 11:46 ThinkAndGrowWitcher says:
Bloody hell – hope that’s not the Death of Darksiders 2. With the world economy somewhat in freefall, it’s unfortunately just another scythe of the times – but I really hope THQ Styx to the schedule on this one.
03/02/2012 at 12:07 amorpheous says:
You get a C for trying (maybe a little too hard).
03/02/2012 at 13:16 Raiyan 1.0 says:
He might lack talent in the art of puns… but don’t kill his enthusiasm.
03/02/2012 at 13:19 Chris D says:
Who hasn’t made a slightly dodgy apocalypse based pun in their time? It’s not the end of the world.
03/02/2012 at 13:32 JackShandy says:
Hell’s Bells, don’t thell me you couldn’t forethell that this this bombshell would be the death’s knhell for THQ?!
03/02/2012 at 13:53 ThinkAndGrowWitcher says:
It’s deathided then – those puns were tomb much.
03/02/2012 at 14:00 Dys Does Dakka says:
I am positively mortified at the quality of puns here. RPS should be more rigorous with their quality control.
03/02/2012 at 14:55 Raiyan 1.0 says:
Alright Witcher, enough. That puts the nail on your pun coffin.
03/02/2012 at 20:02 Steven Hutton says:
No puns since three o’clock. This is a grave situation.
03/02/2012 at 11:47 mrwout says:
I’ll support THQ by buying some of the Warhammer games that are on sale right now on steam ! :)
03/02/2012 at 11:49 Shortwave says:
Thanks for the protip!
03/02/2012 at 11:52 Fierce says:
If you really want to support them, maybe you should buy them through THQ’s website? So Valve doesn’t get a cut?
03/02/2012 at 11:59 mrwout says:
My wallet likes Steam’s current price point more.
03/02/2012 at 14:09 Shortwave says:
Wish I could honestly. Oddly enough I had a debate earlier about the benifits of buying from the source itself.. DAMN YOU HYPOCRISY! DAAAAAaaamn you! Sadly, I just can’t afford to.. I’m struggling to afford the DLC on sale right now with currently online funds.. : ( But, I should manage with some girlfriend heckling.. Sad I know.
03/02/2012 at 11:47 Diogo Ribeiro says:
We are not going through financial woes! Everything is alright with us! We have no news of this, there are no enemies at the gates!
03/02/2012 at 12:43 Windward says:
There are no Americans in Baghdad!
03/02/2012 at 11:47 The Sombrero Kid says:
This is a strategic decision, they’re trying to buoy up their FY 2013 profits as high as possible to convince investors there has been a turn around & it will almost certainly work because investors are both idiotic and self fulfilling prophets.
03/02/2012 at 11:48 foda500orama says:
Fuuuuck, I really hope THQ doesn’t go belly up.
03/02/2012 at 11:52 iARDAs says:
If only 1/4th of the pirates would stop pirating and purchase games, than PC would evolve in gaming and companies would have much better profits.
03/02/2012 at 12:02 The Sombrero Kid says:
THQ are in this position because of the loses they made on hardware bundled with bad software, the only thing that has saved them is easily pirateable games like Saints Row 2 & DoW2, this is actually evidence of the opposite argument that publishers stand to make more profit from ignoring piracy than trying to design piracy proof products.
03/02/2012 at 13:43 fitzroy_doll says:
@ iARDAs: don’t believe the hype
03/02/2012 at 19:52 Lamb Chop says:
Still, if you know anyone who pirated metro, punch them in the head. Then, while they’re unconscious (come on, I know years of twitch gaming have honed your arms into finely tuned fighting machines), take all the money in their wallet and mail it to THQ. You’ll feel like Batman.
03/02/2012 at 11:53 Fierce says:
Wow, I didn’t know THQ was in such dire straits.
I mean, <$1 a share? AFTER Saints 3rd?? The possibility that Darksiders 2 and CoH 2 might DIE?!
If only I had money, I would…
03/02/2012 at 12:04 TormDK says:
Agreed – THQ as a publisher has not let me down in the games I’ve purchased. (Metro, All PC warhammer titles, CoD)
03/02/2012 at 14:03 werix says:
Yeah, I’m kind of surprised myself. The DoW games I thought have always sold well, SR:3rd seemed to do wonderfully, and I was under the impression Space Marine, for all its un-PC multiplayer decisions still sold like hotcakes among the contards. Guess they didn’t sell as much as I thought? Or they just pissed away money on stupid stuff?
03/02/2012 at 11:53 AlternatePFG says:
Forgive me for my ignorance, but how did THQ get to such a state? I thought they had a decent year last year as far as new releases go, but I guess I’m wrong?
I hope Metro doesn’t go under though. I loved the original Metro 2033, warts and all.
03/02/2012 at 11:59 Cerius says:
Homefront and Udraw
03/02/2012 at 12:05 The Sombrero Kid says:
Homefront made a profit, despite being terrible. It was just uDraw, it cost money to manufacture units (unlike software games) & they failed to sell half their xbox 360/ps3 inventory which would be in the millions of units unsold which could’ve cost them as much as $30 a unit.
03/02/2012 at 12:43 Monkey says:
uDraw sounds like a disaster but it would be irrelevant if Homefront had been the ‘call of duty killer’, which it clearly wasn’t or ever was going to be. Bad decisions, i just hope the CEOs bonus wasn’t too big
03/02/2012 at 13:44 adonf says:
I know, 100% hindsight and all, but still: when did a third-party console peripheral that is not supported by the console manufacturer ever make any money ? I think the answer is never. Please correct me if I’m wrong.
03/02/2012 at 14:09 daxy says:
@ adonf
The Guitar Hero and Rock Band franchises did pretty well until they saturated the market.
03/02/2012 at 14:21 adonf says:
Oh yeah… But that was months ago!
03/02/2012 at 22:07 Brun says:
THQ was trying to break into the family and kids games market with uDraw. It was relatively successful on Wii, but it was a disaster on Xbox 360 and PS3 (unsurprising to anyone with half a brain). As a result they had a ton of unsold units and that has killed their bottom line.
03/02/2012 at 12:07 Baka says:
I cannot into finances so I don’t understand how it’s possible to do so bad with such a great line-up.
They have some of the best franchises, they can’t all sell that bad? Maybe if they make their DLC more akin to micro-transactions than expansion prices for a paintshop / single gimmick?
Also, what’s the deal with Turtle Rock? They didn’t fuse with Valve after all?
03/02/2012 at 14:52 bear912 says:
I believe they did fuse with Valve for a while, and then reformed again outside of Valve on amicable terms. I can’t provide a source for this information, sadly, because I’m lazy.
03/02/2012 at 12:12 JackShandy says:
Taking a bachelor of Game Design is looking more like a horrible idea every time I read the news.
But what can I do? Games are all I am. C’est la vie.
03/02/2012 at 12:29 Sian says:
Aw, but I like THQ! One of the few publishers I’ve never had a problem with, though their DLC nonsense is getting a bit out of hand, if you ask me. Which you probably won’t.
03/02/2012 at 12:44 Monkey says:
I love Relic games, not THQ games. Maybe they will be forced to sell the studio, wouldn’t be short of buyers
03/02/2012 at 13:38 fitzroy_doll says:
http://nooooooooooooooo.com/
03/02/2012 at 14:58 bear912 says:
Please, THQ, don’t go belly-up! Especially not before Metro: Last Light is released.
03/02/2012 at 16:04 Rapzid says:
While I share your sentiments, It’s important to note that THQ is not developing Last Light. I’m sure somebody would pick it up if THQ went bust. Hell, Duke Nukem got picked up and it’s a steaming pile..
03/02/2012 at 16:15 Velvetmeds says:
I wouldn’t say that the Metro delay is much of a shock, i for one never expected it to release before October/December 2012, so early 2013 isn’t that much of a difference. In fact, it’s such a common type of delay that i almost yawn :p although i am indeed anxious to play the sequel to a fantastic underrated FPS.
As for the core IPs thing..That’s what they should have always done. Bet on Warhammer 40k, SR (despite the fact that i don’t like it one bit), Metro, Darksiders, etc.. Forget the rest.
I sure hope they keep going because they have some of my favorite franchises under their belt
03/02/2012 at 17:56 Torgen says:
Well, if you *only* rely on your old standbys, you end up dead when tastes change.
04/02/2012 at 00:05 Velvetmeds says:
The trick is to change *only* when change is needed
03/02/2012 at 16:29 TheComputerGamer says:
When THQ acquired Big Huge Games …and did nothing with them. That was a disgrace.
03/02/2012 at 17:25 1R0N_W00K13 says:
Does anyone know what would happen to Relic if THQ went south? I’m assuming they can’t just buy up the 40K rights, and I’m concerned that Dawn of War 3 might be in jeopardy.
03/02/2012 at 19:14 nootpingu86 says:
A bed THQ has been making itself for years. I’d welcome it. 4A probably won’t suffer, but who knows.
03/02/2012 at 21:21 paterah says:
Can’t disagree more. THQ has pleased me greatly as a PC gamer the last few years.
03/02/2012 at 19:26 MattM says:
I was looking at their financials. They seem like a company well in the death spiral. They haven’t posted an annual profit since 2007 and their expenses were 175% of their income last year. They have a moderate-low debt level, but the stock of a company that can’t make money isn’t worth one cent. Hopefully their games will get picked up by other developers.
03/02/2012 at 22:49 kud13 says:
THQ is tanking while Ubisoft thrives.
as if we needed further proof that there is no God.
03/02/2012 at 23:04 Brun says:
While it’s sad to see THQ’s state, I have zero sympathy for a company that chooses to abandon its core titles in favor of “new markets.” It’s one reason that Nintendo has really soured on me post-Wii, despite their ability to find success in those new markets, unlike THQ.
04/02/2012 at 00:37 Boult Upright says:
It only takes one bad operational decision or one missed opportunity. I hope they come out the other side.
04/02/2012 at 05:40 Sinex says:
Eff Metro, save Dark Millennium!