THQ reports $431.1 million loss, blames WWE and kids games

by Andrew Yoon on May 6th 2009 5:45PM

Things are looking quite grim at beleaguered publisher THQ. During today's investor relations conference call, the company reported a 19 percent decrease in net sales for the fiscal year ending March, 31 2009. In dollars, net sales totaled a mere $830 million, compared to roughly $1.04 billion in the previous year. The company also reported a whopping net loss of $431.1 million for the fiscal year.

Lagging sales in both THQ's kids and WWE divisions have dramatically affected THQ's bottom line. Stale kids franchises dragged down the category 38 percent, while sales of WWE games have plummeted 25 percent.

Understandably, the company plans to refocus its efforts in the new fiscal year. The casual games market is an important growth sector for THQ, with sales of its Wii games doubling year over year. Wii software sales represented 17 percent of the company's total sales, a dramatic jump from 9 percent the year before. The kids division is also expected to be reinvigorated with THQ's upcoming Marvel Superhero Squad, coming to Wii, DS, PSP and PS2. THQ anticipates this kid-friendly Marvel mash-up game will become an annual franchise for the company. In addition, THQ will reveal three new casual, "mass appeal" titles at E3.

Source

Tags: business, economy, sales, thq

Reader Comments (43)

Must give a big ol' wtf to Superhero Squad. Its like Ultimate Alliance gone chibi...

Its like Ultimate Alliance gone shitty

FTFU

And I'm that big of a nerd that I'll probably buy it. Sigh. Please don't suck THAT bad.

THQ doesnt want our money. As we sit and wait for an AKI wrestling game to be made. Def Jam games were ok... but Id rather still play No Mercy.

I'm with random... Give me No Mercy with next gen graphics and you'll get my money every time.

more de Blob/Deadly Creatures, less UP!: The movie: The Game: The Experience

This.

How about blaming production of crap games too?

I thought they already blamed WWE and their kids division...

I think he's saying how about blaming the fact that these games were produced in the first place, not just blaming their poor sales. You can't open a poop stand, not sell any poop and then say "well, people just aren't buying poop these days." Stop selling poop and start selling... lemonade or whatever de blob would be considered.

They should develop games with the de Blob quality... that's a million seller game, and it fits both the casual and hardcore demography on the Wii...

Oh, de Blob... I wish everyone would listen your amazing funky and jazzy soundtrack...

Quick english lesson:

"Oh, de Blob... I wish everyone would listen your amazing funky and jazzy soundtrack"

Is that correct? Or should it say "could" instead of "would?

My english is still bad.

HA! I KNEW IT! I KNEW FERNANDO HATED AMERICA!

in all serious catness, its COULD

'would' or 'could' could both work, depending upon what you were trying to say.

You need to add in a 'to'

listen "to" your

also, I saw some screens from Rabbids Go Home, but Im still not sure if I like the look. Its like Grand Slam Tennis meets the existing engine. Which is fine but its 90 people from the BG&E team, so I expected something more unique

also (redundant?) apparently, the new Indiana Jones game isn't a complete pile of crap

http://wii.ign.com/articles/979/979695p1.html

Ah I see... thanks a lot!

Speaking of Rabbids Go Home, I read an interview yesterday, and they are using a brand new engine developed exclusive for the Wii, the game will have multiplayer, online, and they hinted a Rayman game next...

Plus, Michael Ancel himself is in charge of the game.

"Yes, a brand new engine called LyN was created alongside Rabbids Go Home and will serve many forthcoming games. It is a revolutionary graphical engine thanks to its structure and technology that make it at once easy to use, effective and evolvable. With LyN, we can create games for both old-gen and next-gen consoles.

For the Wii in particular, the engine maximizes the capacity of the console by managing the totality of the graphical pipeline within the engine itself. The advantage of this engine compared with earlier generations is its capacity to optimize graphical resources without limiting the imaginations of the teams of artists and designers who use it. RGH is the first game out of an Ubisoft studio to benefit from this technology"

Where'd you see the Rabbids screens?

Here:

Some are real time, some are rendered concept art...

http://www.flickr.com/photos/nintendoraw/sets/72157616149718505/with/3506807873/

You could also use words that already indicate that they are indicating the subject you're talking about, such as "hear" or the more appropriate "experience".

I haven't played de Blob, but when I was buying my Wii friend a game for his B-day, that's what I got him after reviewing my options.

THQ, here's the secret to getting those revenues back up. I'll even give it to you for free. Ready?

Make fewer games, but make them better.

Yeah. Simple as that.

Here's another: Bring back Aki. Then they can make a wrestling game I actually want to play.

WWE Legends sucked ass....thats THQ's fault....they should have made it like SvR

The controls in the Legends game were awful, it would have been an instant buy for me, if it had played like Smackdown.

I still actually enjoy playing wrestling games, despite the fact I haven't watched wrestling for years. Me and some friends always have a great take making our own guys and just having a few matches. That being said the Smackdown games have greatly dropped in quality with the past few games.. which have added almost nothing new to the sereis, taken away key mods and just generally became stale.

I'm glad to see them blaming the WWE games here, I would have bought 2009 if it weren't just another rehash with a few of my favourite modes gone, and if 2010 is as much of a disappointment I know none of my friends will be buying it either. Hopefully this gets them to put some effort into the next one, or forces them to pass the liscence onto someone who will.

As a wrestling fan, one has to admit that I'm surprised that the WWE division has dropped ONLY 25%.

Note to THQ: Kids don't have much money.

Sure they do, their parents' money

But both are generally able to tell crap when they see it

They are both just as likely to buy from Company A as they are to buy from Companies B-Z.

Okay, the Hulk looks more like Sprout of Green Giant veggie products fame. Me like smashy?

Yeah, there's something really wrong with the smiling, happy Hulk. This is a character who draws his power from rage.

Kiddie fare, I know... but sheesh.

maybe its because you didnt have gta coming out this year...this isn't a loss this is back to normal.

(wrong company, you mean take-two)

THQ doesnt publish GTA...

maybe you meant Saints Row?

woops, yea thats what i ment...brain fart :p

I might get this game just to have something that I can automatically laugh at when needed.Seriously who ever made the hulk here deserves a big raise.

see kids, this is what happens when you lean on shovelware too long. you become lazy and forget to innovate.

NO ONE is above this unwritten law.

Perhaps if they stopped making you unlock the wrestlers and create a wrestler stuff every year more people would be inclined to upgrade to the next version. Whats the point of buying the next version when it doesn't necessarily have a better roster and you have to go through the game again to unlock everything and then also re-create all of your favourite wrestlers? Not only that but they made it worse this year by requiring people to play through the career mode before they could give their created wrestlers attributes!

Just survive long enough for Red Faction and Saints Row 3 okay?

I'm predicting sales records for a new IP in UFC Undisputed. It could single handedly save THQ from pwning itself.

THQ is just using the WWE as a scapegoat as their agreement is almost up. Naturally UFC will sell well enough that THQ can say that "WWE is bad and UFC is good."

lmfao, they are blaming the WWE!?!?! lmfao what a joke.

i never knew vince mcmahon was the one actually making the game.

THQ needs to release that liscence from there death grip because ever since they went multi platform the series has been SHIT

Kids sales down 50%. Wii sales up 100%.

Numerous Joystiq commenter's brains BSOD due to does-not-compute errors.

Here's a tip for THQ: quit putting out the same bug-filled WWE game every year. They've not made changes is the right places in the series. Who cares if it looks good if its also full of bugs!

Bring back Aki. They could simply re-release WWF No Mercy with shiny graphics and it would sell like hotcakes.

N64 is still the king of wrestling games.

THQ reports $431.1 million loss, blames WWE and kids games

Reader Comments (43)

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