Sweden's Starbreeze game demanded economically. he released Overkill is the walking dead on Steam, in early November, but the game is worse, says the company in a press release.
Sales went worse than expected, and a large proportion than expected of the games sold goes to a lower level of countries such as China and Russia. This means that the 505 games that will publish the game on PS4 and Xbox One February 8 next year to hold a license fee of $ 10 million, which makes accounting for Starbeeze and auxiliary Overkill. But he still expects the operating profit for the quarter, said company CFO Sebastian Ahlskog.
We do not fail to recognize the license fee by 505 Games for Overkill in The Walking Dead as revenue until after the end of the fourth quarter, while revenue from the initial sale of the game lower than expected. This will have a negative impact on fourth-quarter profit, but our goal of positive EBITDA for Q4 stands.
Starbreeze is now reviewing its costs and plans to concentrate on its core areas of "internal and external events." It will reduce costs for 2019 It says nothing about the dismissals, but it does not sound like an impossibility that will take place, if the assessment is complete.
The company has launched a review of the operations of the project and initiated a program to reduce costs and focus on core business – internal and external development. The actions are expected to generate significant cost savings in full in 2019 compared to 2018 mainly in the non-core business. Sun long-term target of positive EBITDA no longer apply for the entire 2019.
Starbreeze shares almost collapsed on the Stockholm Stock Exchange in recent weeks. The share currently stands at 2.70, a decline of 35 percent last week and 57 percent in the last month. And for the last six months, the price dropped by 80 percent.
Overkill is the walking dead Located in writing before the end of the list of 100 most popular names of steam, with 3300 players. At best, the 4400 run at the same time. The reception was cool – it cuts 52 on Metacritic after 33 reviews.
Starbreeze was formed in Uppsala in the late 90s. Studio among other things made a great The Chronicles of Riddick: Escape from Butcher Bay (2004) and Josef Fares known games debut Brothers: A Tale of two sons (2012). In the same year he bought Overkill Software (It started and Ulf Andersson and Simon Viklund, after Grin bankruptcy), that started the success of Steam in the next year, Payday 2, Starbreeze will issue Psychonauts 2 and System Shock 3 next year. It also works with virtual reality project StarVR.