Funcom revenues down as large-scale MMOs continue to earn

Funcom's Q4 revenues slid year-over-year from $7.78 million in Q4 2012 to $4.27 million in Q4 2013, due to previously reported deferred billings related to its massively multiplayer online game The Secret World, weaker sales and increased competition.

In its recent investor presentation (PDF link), Funcom described the number of large-scale MMO players as "relatively stable" and highlighted Age of Conan and Anarchy Online as its main sources of revenue. The company also revealed that "All games in the large-scale MMO segment are cash flow positive and will remain so in the foreseeable future."

Funcom will continue to execute a strategy it developed in 2012. That strategy focuses on creating mid-core online games, developing games more quickly, creating smaller games with smaller teams and releasing more than one game each year. The company also plans to take its Dreamworld engine cross platform and expects it to be compatible with Android and iOS this year. Its upcoming Lego Minifigures Online MMO is also on track for an open beta this summer.

Earlier this year, the Norwegian developer was delisted from the country's stock exchange and investigated by Økokrim (The Norwegian National Authority for Investigation and Prosecution of Economic and Environmental Crime) under the suspicion of market manipulation and failing to maintain a list of people granted access to inside information. According to the financial report, no employees have been charged, and there is no indication as to how long investigation will take.

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