Starbreeze Studios has revealed that it has turned an accumulative 15-year loss into a six-month profit of more than $20 million.
According to CEO Bo Andersson Klint, since the studio’s founding in 1998 until June 2013, the company had made a total accumulated loss of SEK 94 million ($14.6 million). In the six month period between July 1st and December 31st 2013, Starbreeze earned SEK 130.4 million ($20.2 million) in revenue as well as pre-tax profits of 104 million ($16.1 million). Andersson also noted that virtually all of its money is coming from its own IP and is making enough money to grow.
“I would like to think that is what they call a turnaround,” Andersson said. “Keeping this in mind, I as CEO can continue to move the company away from a survival strategy and towards a strategy focused on growth, sustained profits, and value maximisation of our own brands.”
Payday 2, which Starbreeze released in August last year, has accounted for SEK 35.5 Million ($5.5 million) of the company’s SEK 40.1 million ($6.2 million) revenue in its October-December fiscal quarter.
“We now have a large cash reserve, have created a stable cost structure, a modern business model,” said Andersson. “We have continued full control of our own brands and have placed ourselves into a position where we have three games [Payday, Payday 2, Brothers] that generate royalties every single day.”
(via GI International)