Joystiq

THQ formally drops Farrell, Rubin, executive staff

Jessica Conditt — Tue, 05 Feb 2013 19:00:00 EST

THQ's storybook is down to the final pages, following the rising action of its dropping stock, and the climax of its bankruptcy at the end of 2012 and asset sale in January. Now for the falling action: THQ formally terminated CEO Brian Farrell, President Jason Rubin and Chief Strategy Officer Jason Kay on January 30, made public in an 8-K form filed today.

Earlier in February, Rubin said that THQ's failure was its own fault, and it boiled down to missteps with franchises such as uDraw, the Warhammer 40K MMO and Homefront. "THQ had every chance to survive, had it not made massive mistakes," he said.

THQ's epilogue is up next, wherein we find out what all these new companies will do with its former properties.

THQ formally drops Farrell, Rubin, executive staff originally appeared on Joystiq on Tue, 05 Feb 2013 19:00:00 EST. Please see our terms for use of feeds.

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THQ's new boss outlines the company's path to financial salvation

Ben Gilbert — Tue, 05 Jun 2012 15:30:00 EST

"For me, this is about the future," newly appointed THQ president Jason Rubin told investors during a conference call this morning. Rubin was outlining his plan for the future of THQ - a plan he hopes will take THQ from an ailing company on the fringe of the publishing world to previously untapped financial greatness. "The industry is about to change. If you look at what's happened in the PC business, if you look at what's happened in some of the other businesses out there, you see that print models and different ways of distributing and publishing games has opened up a significant amount of revenue for other companies," Rubin said.

Rubin's message - wherein he partially blamed THQ's financial issues on "big incumbent players" who have a "huge advantage in keeping their top spots," such as EA and Activision - seems particularly strange considering THQ CEO Brian Farrell's repeated assertion that the publisher is focused on "core brands" such as Darksiders and Saints Row. As recently as last week, THQ was espousing its "core games" focus. "THQ realigns its focus from a maker of licensed games for broad audiences to a developer of AAA 'Core' games for multiple platforms," the press release announcing Rubin's appointment reads.

"Companies in a very short amount of time can go from very small to very large. Zynga's a perfect example of that," Rubin said. "I believe that this business has opportunities that are coming on the near horizon to do something very similar. And I think that the teams that we have are properly positioned and properly sized to take advantage of that opportunity." Rubin further explained his hopes for those business opportunities. "This is about looking at what THQ has, looking at what the business is gonna become in the near future, and making a real concerted attack to get in early on the new business model." What that business model will be remains to be seen. We'll be sure to put that question to Rubin when we speak with him later this week.

THQ's new boss outlines the company's path to financial salvation originally appeared on Joystiq on Tue, 05 Jun 2012 15:30:00 EST. Please see our terms for use of feeds.

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THQ's Danny Bilson exits as Jason Rubin takes prez spot

Ben Gilbert — Tue, 29 May 2012 17:09:00 EST

THQ announced this afternoon that former executive vice president of "Core Games" Danny Bilson stepped down from his position in the company, and Naughty Dog co-founder Jason Rubin is taking the position of president. Rubin will report directly to chairman and CEO Brian Farrell.

Additionally, senior vice president of Core Studios Dave Davis is exiting the company. Bilson, Davis, and the "Core Games" group at THQ lead the charge in recent years on THQ's rebranding (including the logo you see above) from a licensed-game publisher to one developing and publishing what Bilson and co. considered "core" franchises (Warhammer 40K, Saints Row, and Red Faction among others). The move is especially odd considering THQ's continuing initiative to develop "AAA 'Core' games for multiple platforms."

As for Rubin's appointment, that's distinctly less odd - he helped create one of the game industry's most successful development studios. "Jason's proven track record in the industry speaks for itself, and he is one of the brightest minds in the business," Farrell said of Rubin's appointment. As for Bilson, Farrell noted his "significant contributions" and thanked him.

THQ's Danny Bilson exits as Jason Rubin takes prez spot originally appeared on Joystiq on Tue, 29 May 2012 17:09:00 EST. Please see our terms for use of feeds.

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THQ CEO Farrell takes 50% pay cut, board of directors also takes cuts

JC Fletcher — Wed, 01 Feb 2012 17:48:00 EST

THQ is definitely experiencing some troubles related to its uDraw flop and subsequent layoffs, as evidenced by a new document filed with the Securities and Exchange Commission.
President and CEO Brian Farrell will take a pay cut for the year starting February 15, which reduces his salary from $718,500 to $359,250. His salary will go back up the next year.

His golden parachute has also been tailored a bit more closely, as the payment he'd receive upon departure from the company (either termination "without cause" or resignation with "good reason") has been cut from three times his highest-ever bonus to just his highest-ever bonus. This is, of course, a small sacrifice compared to the THQ employees whose salaries went from "some" to "none."

The board of directors is also seeing some cuts: all the other directors have "elected" to receive 50% less cash compensation for a year effective today.

THQ CEO Farrell takes 50% pay cut, board of directors also takes cuts originally appeared on Joystiq on Wed, 01 Feb 2012 17:48:00 EST. Please see our terms for use of feeds.

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Alleged former THQ staffer sends furious note to board, press

Alexander Sliwinski — Wed, 25 Jan 2012 09:10:00 EST

An anonymous letter sent to media and THQ's board of directors, allegedly written by a former employee of THQ, rains fire on the company's management and, specifically, CEO Brian Farrell. The letter arrives the same day as THQ announces another strategic realignment, a little over a week after the company had to spin a major cancellation rumor and over a month after THQ's stock dropped below $1.

"It is to the point where having [THQ] on your resume is not a point in your favor. And that shouldn't be the case," the "Formerly Mismanaged" writes. "I'm/We're sending this note anonymously because some of us are still awaiting final checks and others know how little corporations like employees who air their dirty laundry. We feel the need to say something to combat the partial misinformation being written."

The Formerly Mismanaged lays out its belief that the beginning of the end came when the cash rich company went on an acquisition spree years ago, allegedly "with no plan" -- many of those studios have since been shuttered or sold off. Then came what the accuser(s) call bad licensing deals and the most recent business miscalculation with the uDraw tablet, which caused the company to lower its fiscal outlook for the year.

The scope of THQ's problems is expected to come into slightly better focus when it announces its current financial position on February 2. Wedbush Morgan Financial Analyst Michael Pachter has pointed out he believes THQ will generate a "substantial loss" at the end of its fiscal year and that "THQ is at risk of running out of cash by the June 2012 quarter."

You can read the entire letter by "The Formerly Mismanaged" after the break.

Continue reading Alleged former THQ staffer sends furious note to board, press

Alleged former THQ staffer sends furious note to board, press originally appeared on Joystiq on Wed, 25 Jan 2012 09:10:00 EST. Please see our terms for use of feeds.

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THQ CEO talks up cloud gaming, plans 40 weeks of Saints Row 3 DLC

JC Fletcher — Thu, 08 Sep 2011 11:15:00 EST

THQ CEO Brian Farrell spoke highly of cloud gaming yesterday, which should come as no surprise to anyone who's seen THQ's frequent OnLive deals, or to anyone who knew that he happened to be speaking at the Cloud Gaming USA conference.

Farrell predicted that a move to discless, all-digital game distribution "will result in a lower cost for the hardware manufacturer, which will result in a lower cost to consumers and therefore a lower entry point, thus driving more mass market adoption." It's something he sees not just PC-based services, but consoles doing as well -- though he didn't really specify "cloud" there vs. just downloading games.

And speaking of downloading content, Saints Row: The Third is going to have some -- a lot, actually. Farrell said that the game would be followed by roughly 40 weeks of DLC. "We totally change how we keep consumer engaged for a very long time," Farrell said. "We intend to create an online digital ecosystem that keeps them interested for a year or more." It's the same kind of approach THQ tried with MX vs. ATV Alive, except without the base game having reduced content to start -- or a reduced price.

"What we found was unlike free to play, $39.99 [the budget-level price of MX vs. ATV] just wasn't low enough to drive a big enough install base to push the level of DLC we had initially hoped for." It will be interesting to see if that kind of strategy works with a game that is more complete, and fully priced.

THQ CEO talks up cloud gaming, plans 40 weeks of Saints Row 3 DLC originally appeared on Joystiq on Thu, 08 Sep 2011 11:15:00 EST. Please see our terms for use of feeds.

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THQ laments 'disappointing' quality in recent games

JC Fletcher — Wed, 27 Jul 2011 19:00:00 EST

THQ's earnings release and investor call have seemed to pile on the poor Red Faction series. CEO Brian Farrell called out Armageddon's disappointing sales in the release, and announced the effective cancellation of the series in the investor call.

Elsewhere in the call, he lamented the perceived quality of Armageddon and the other two most recent core games -- presumably MX vs. ATV: Alive and UFC Personal Trainer, though none are identified by name. "The last three launches we've had have been disappointing in terms of the quality," he said. "Mid-70s [in terms of Metacritic average] is not good enough, and the entire team in our core group knows that."

Farrell said the core group intends to focus on putting enough time and resources into its games to ensure higher quality. He specifically referenced Saints Row: The Third, for which "We believe strongly the quality bar is there." And that's how the game's signature weapon got its new nickname, "The Quality Bar."

THQ laments 'disappointing' quality in recent games originally appeared on Joystiq on Wed, 27 Jul 2011 19:00:00 EST. Please see our terms for use of feeds.

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MX vs. ATV dubbed a noble, though not successful, experiment

Christopher Grant — Wed, 27 Jul 2011 18:30:00 EST

In trying to reinvent itself, THQ has tried some interesting things; unfortunately, many of these experiments haven't been successful. Take, for example, MX vs. ATV Alive, the publisher's budget-priced take on the motocross mainstay. "We were trying to take some of our learnings from the free-to-play market and see if we could apply them to the console world," CEO Brian Farrell explained to investors on an earning's call today. "The idea was [...] to come out with a robust product at a $39.99 price point, build a larger install base more quickly, and then monetize that install base through rapid and large-number of DLC drops."

The only problem is ... the game didn't move enough units to, in turn, move enough DLC to make the experiment a success. "The key learning there was that it was not a successful experiment," Farrell admitted. "The $39.99 price point, while good - it gave us good acceleration of sales - just wasn't enough to drive the install base to where we wanted it to be. Obviously the correlary to that, is that on a lower install base, the amount of DLC sales are not what we anticipated."

Farrell blamed the "high fixed cost of goods in the current console market" for preventing the publisher from hitting a low enough price to drive meaningful DLC sales. The CEO concludes, calling the game a "noble experiment" that he thinks will have "a long shelf life at $39.99."

MX vs. ATV dubbed a noble, though not successful, experiment originally appeared on Joystiq on Wed, 27 Jul 2011 18:30:00 EST. Please see our terms for use of feeds.

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THQ disappointed in Red Faction performance, thinks fiscal Q3 could be its best ever

JC Fletcher — Wed, 27 Jul 2011 17:30:00 EST

Despite the fact that net sales were up year-over-year in THQ's fiscal Q1 (which ended June 30), from $149.4 million to $195.2 million, CEO Brian Farrell still wasn't satisfied. "We are disappointed in our first quarter financial performance," he said in the earnings release. "Sales of Red Faction: Armageddon and our licensed kids titles were below our expectations, and the late release of UFC Personal Trainer also adversely impacted the quarter." Of course, that disappointment is probably due to the fact that even with increased net sales, the company came out negative, with a net loss of $38.4 million. Most of the "losses" are from "deferred revenue" -- revenue that the company isn't counting now, because it'll go toward ongoing online services for its games.

However, Farrell is looking forward to a profitable Q3 (October through December) -- so profitable, in fact, that he said THQ expects it to be "the biggest third quarter, both in revenue and earnings per share, in our company's history," thanks to Saints Row: The Third, WWE 12, and the PS3/Xbox 360 versions of the uDraw tablet, all scheduled for November releases.

THQ disappointed in Red Faction performance, thinks fiscal Q3 could be its best ever originally appeared on Joystiq on Wed, 27 Jul 2011 17:30:00 EST. Please see our terms for use of feeds.

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THQ CEO: Next-gen is 'less about technology and more about service'

Christopher Grant — Wed, 13 Jul 2011 13:30:00 EST

"We believe Apple is going to be there, Google is going to be there," THQ head honcho Brian Farrell told an audience at today's GamesBeat conference in San Francisco. He isn't talking about this weekend's killer tech company pool party (you should come!); instead, he's talking about the next generation of game consoles. "Our view is that the next generation of consoles, if there are consoles, are going to be less about technology and more about service orientation of the gamer." Take that, technology!

Apple and Google are already changing the video gaming landscape and their Apple TV and Google TV platforms have the potential to be even bigger game-changers. Though as bullish as he is on Apple and Google's mobile offerings, Farrell still sees a future for the PlayStation Vita and 3DS. "The dedicated handheld market is going to find an audience, but it isn't going to be as broad because of the competition from other operating systems. What the market is telling us, is consumers want a very quickly consumable mobile experience; it doesn't necessarily have to be deep."

While THQ is still intent on making expensive plays in the AAA console gaming space, like September's Warhammer 40,000: Space Marine and November's Saint's Row The Third, it's also working on "better bite-size games," according to GamesBeat, "rather than massive titles with awesome graphics on hand-held consoles like Sony's PlayStation Vita or the Nintendo 3DS."

With EA plunking down some serious cash for PopCap, one of iOS's top-earning developers, we're seeing more publishers focus on the new mobile space. Now the question is whether or not gamers have enough time and money to support that many competing mobile platforms. Sorry, Panasonic Jungle.

THQ CEO: Next-gen is 'less about technology and more about service' originally appeared on Joystiq on Wed, 13 Jul 2011 13:30:00 EST. Please see our terms for use of feeds.

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THQ confirms 'Metro: Last Light' as Metro 2033 sequel

JC Fletcher — Tue, 03 May 2011 17:43:00 EST

Speaking this evening during an investor conference call, THQ CEO Brian Farrell confirmed that "Metro: Last Light" will be the title of the sequel to last year's gritty FPS Metro 2033.

Last month, domain registrations for "Metro2033LastLight.com," "MetroLastLight.com" and "LastLightGame.com" served as evidence of an upcoming game under some permutation of that title, but THQ had yet to offer anything official about that title -- and it wasn't clear whether that related to a sequel (which has previously been known as "Metro 2034") or some kind of spinoff.

The important thing, of course, is that it hasn't been titled "Unreleased FPS Project." In fact, this game will be the focus of a "first-class marketing campaign," THQ core games CEO Danny Bilson told us earlier this year.

THQ confirms 'Metro: Last Light' as Metro 2033 sequel originally appeared on Joystiq on Tue, 03 May 2011 17:43:00 EST. Please see our terms for use of feeds.

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THQ logo revamped for a new focus on 'innovation and creativity'

Ben Gilbert — Wed, 12 Jan 2011 10:45:00 EST

You know that old, silly THQ logo? The one where it looks like the letters are going high speed? That is now, officially, old and busted. As seen above, the publisher unveiled its new logo (aka "the new hotness") this morning, with company head Brian Farrell noting, "Our new logo epitomizes the change, innovation and creative growth that are the cornerstones of the new THQ." Farrell is of course speaking to the past few years of major changes at THQ, kicked off with the hiring of core games VP Danny Bilson in early 2008 and followed by several successful business choices in the subsequent years -- everything from achieving cost-cutting goals early on to brokering deals with top talent.

The new logo will start making retail product appearances this February and "will be rolled out over the next few months" in other venues. Goodbye speedy THQ logo, hello crazy future-font THQ logo!

Continue reading THQ logo revamped for a new focus on 'innovation and creativity'

THQ logo revamped for a new focus on 'innovation and creativity' originally appeared on Joystiq on Wed, 12 Jan 2011 10:45:00 EST. Please see our terms for use of feeds.

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Game industry 'a lot healthier' than what NPD has indicated, THQ CEO believes

James Ransom-Wiley — Mon, 06 Dec 2010 21:20:00 EST

Speaking with GameSpot about his company's forthcoming releases and business strategy, THQ CEO Brian Farrell suggested that reports of the game industry's death have been greatly exaggerated. Those "reports" -- perhaps better thought of as a general perception shared by many investors, analysts, media outlets and informed consumers -- can be largely attributed to declining software sales over the past few years, as tracked by the NPD Group on a monthly basis. "I'm a big fan of NPD and we're not declaring war on them," Farrell assured, "but what we've been trying to clarify is people are looking at just NPD now, right?"

While NPD is in the process of expanding the scope of its reports (and also limiting them), the group has traditionally tallied only U.S. sales of new (physical) software, in addition to those of hardware and accessories, painting an increasingly bleak picture of the industry as revenue continues to shift to other sectors. (NPD now intends to track sales data across a wide range of revenue streams, including digital and mobile platforms and social networks, not to mention used-game businesses and rentals.) "I'm not being critical of [NPD], but it's just a lot of investors or people who look at the industry and see the NPD box product sales are down," Farrell lamented, before juxtaposing that perception with THQ's point of view: "more people are playing games than ever before."

"[We] as an industry need to come up with a different way to look at the industry to capture all those revenue streams," he continued. "So I think the industry is a lot healthier than just what NPD is reporting."

THQ will test that apparent vitality next spring with the release of MX vs. ATV Alive, which will be budget-priced at $40 and supported by a steady stream of DLC. "You know, hopefully tens of millions of dollars will come from just that single product."

Game industry 'a lot healthier' than what NPD has indicated, THQ CEO believes originally appeared on Joystiq on Mon, 06 Dec 2010 21:20:00 EST. Please see our terms for use of feeds.

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THQ: Saint's Row movie coming, will be announced next month

Griffin McElroy — Fri, 12 Nov 2010 18:40:00 EST

We've frequently been addled with this thought: Why hasn't anyone made a movie starring Keith David and a dude dressed up like a hot dog, who wander around large metropolitan areas indiscriminately shooting vehicles, buildings and people with rocket launchers? That is a movie we'd pay well over the standard ticket price to see ... and we might soon have our chance! In a recent interview with Gamasutra, THQ CEO Brian Farrell revealed that the company will announce a Saint's Row movie sometime next month.

Though no details about the film were revealed, Farrell said the plan is to make sure the film and the next installment in the over-the-top crime series will release at the same time, saying "this builds our brand at no cost to us." Sure, it does -- unless the film is like, wicked bad. Like, Ballistic: Ecks vs. Sever bad. Like, Alone in the Dark bad.

THQ: Saint's Row movie coming, will be announced next month originally appeared on Joystiq on Fri, 12 Nov 2010 18:40:00 EST. Please see our terms for use of feeds.

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THQ president talks up new $40 sales model, building a user base

Griffin McElroy — Thu, 11 Nov 2010 17:21:00 EST

THQ president Brian Farrell has some bold ideas about the future of the gaming industry's profitability. While speaking at the recent BMO Capital Markets Conference, Farrell explained, "What we're thinking about the business is we're turning it on its head a little bit," later adding, "It's not, 'how high a price can we get', but 'how many users.'" Farrell then described THQ's vision for capitalizing on that policy: As revealed in September, THQ hopes to launch the next entry into the MX vs. ATV series at a lower price point, and rely on DLC to bring in the big bucks.

"When we launched [MX vs. ATV] at $59.99, we'd do some units, and then when we brought the price down to the mass market-friendly price of $39.99, it would just pop," he explained to the conference's attendees. "So the thinking this time is, let's initially launch at $39.99 ... It's a AAA title, at that price point, but then with a series of DLC so people can extend their experience." The company's strategy makes a lot more sense, now. See, before, we just thought they were dropping the MSRP because they wanted to do a nice thing for us.

THQ president talks up new $40 sales model, building a user base originally appeared on Joystiq on Thu, 11 Nov 2010 17:21:00 EST. Please see our terms for use of feeds.

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Next THQ MX game coming 2012, to offer 'hybrid' budget experience with DLC

Andrew Yoon — Sat, 25 Sep 2010 01:00:00 EST

Filed under: News, In The News, Weird But True, Opinions, New In Pop Culture

Games aren't always going to keep their $60 price tag -- at least, that's what THQ president Brian Farrell believes. Speaking at the recent "Goldman Sachs Communacopia XIX" investors conference, Farrell described the future of the industry, one that allows for more flexibly priced goods. He offered a glimpse at the future by discussing the company's next (currently unannounced) MX game. Due in fiscal 2012, the title will experiment with a "hybrid" model that combines a budget price point and extensive DLC.

"What we're doing this time is coming out initially with a smaller game at a lower price point, at the $29-$39 range, and then doing a download model for different modes, different tracks, different vehicles. We call it hybrid because it's a take on the microtransaction and DLC models," he explained to investors. By offering a smaller game at a smaller price point, Farrell believes they can capture the budget gamer "no matter what." However, by adding extensive microtransaction options, gamers can buy into as much as they want. "If a person wants to spend a $100 on a game then they can do that as well."

THQ's next MX game is just another example of the shifting economies within the video game industry. For example, THQ's Red Faction Battlegrounds represents yet another part of the company's experiment to diversify game pricing. EA has also been expanding its digital portfolio with its own "Project Ten Dollar" initiative. "Whether it's a take on this model or the free-to-play model, this is where our industry is going," Farrell added.

Next THQ MX game coming 2012, to offer 'hybrid' budget experience with DLC originally appeared on Joystiq on Sat, 25 Sep 2010 01:00:00 EST. Please see our terms for use of feeds.

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THQ's 'Kids, Family and Casual' branch revealing new project next Tuesday

Griffin McElroy — Mon, 09 Aug 2010 19:40:00 EST

Filed under: Weird But True, Opinions, New In Pop Culture

If you're the least bit worried about the massive workload THQ seems to have taken on -- seriously, just look at that chart -- you may want to avert your eyes from this particular story. During the publisher's investors call earlier today, CEO Brian Farrell explained that the company "will be unveiling an innovative new product a week from tomorrow in New York," later adding "we look forward to its launch this holiday season."

A representative from THQ explained that this new project is being developed by the "Kids, Family and Casual" (or K.F.C.) management branch of the studio, likely ruling out the chance that this unannounced project is that Saints Row MMO you've always dreamed of. We've contacted THQ to see if we can get any additional details about the project. Like, for instance, will it be crispy, or original? Can we assume it will be finger lickin' good? Will it come with its own secret blend of herbs and spices?

THQ's 'Kids, Family and Casual' branch revealing new project next Tuesday originally appeared on Joystiq on Mon, 09 Aug 2010 19:40:00 EST. Please see our terms for use of feeds.

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THQ looking at 'longer development cycle' for next UFC

Christopher Grant — Mon, 09 Aug 2010 19:20:00 EST

Filed under: Weird But True, Opinions, New In Pop Culture

"We thought based on the preorder trends that we saw and what we were hearing from retailers and consumers alike and we built our plans for growth in UFC this year," THQ CEO Brian Farrell said on an earnings call today. However, with 2.7 million units sold relative to last year's 2.9 million units in the same period, it's clear the sequel didn't show signs of "growth." (Was it Red Dead's fault?)

After reaffirming it as "still a top franchise" Farrell told the call, "What we're thinking about - not to necessarily reinvigorate it because it's a great franchise - but as I said in my prepared remarks, we're considering a longer development cycle. 15-, 18-, 21-months between releases rather than annually." That increased development time will, ostensibly, increase product quality and, with fewer releases, increase consumer demand. That combined with the UFC training and fitness game (not to mention PSP ports), Farrell assures analysts that "We think there's a lot of growth to be had with the UFC franchise over the next several years."

Farrell is quick to declare that there will be a UFC game in the next fiscal year. "We will have a UFC title in fiscal '12," he said directly. "The question is timing, as I said. Could it be 15-, 18-, 21-months? That depends on both the scope of the game, the window, and how we want to release that game. As I said in my prepared remarks, we thought maybe a 12-month cycle might be a little quick but it'll be somewhere around 18-months give or take a few months."

If you consider this year's UFC Undisputed 2010 on a 12-month dev cycle, an 18-month cycle would put its successor somewhere around late November 2011, smack dab in the middle of the busy holiday shopping season. Might be a tough spot for a UFC game to fight its way out of.

THQ looking at 'longer development cycle' for next UFC originally appeared on Joystiq on Mon, 09 Aug 2010 19:20:00 EST. Please see our terms for use of feeds.

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THQ report: $30m Q1 loss, UFC Undisputed 2010 moves 2.7m units

Christopher Grant — Mon, 09 Aug 2010 17:45:00 EST

Filed under: Weird But True, Opinions, New In Pop Culture

While THQ may be rebounding in terms of brand and product quality, that doesn't mean it can simply take the express bus to Money Town. There's more to running a successful entertainment business than simply making well-received games.

For its fiscal 2011 first quarter ended June 30, 2010, the publisher reported net sales of $149.4m driven primarily by UFC Undisputed 2010. While that sounds like a lot of scratch, that's compared with last year's sales for the quarter of $243.5m, driven by UFC 2009 Undisputed and Red Faction: Guerrilla. The earnings report explains, "No title comparable to Red Faction: Guerrilla was released during the first quarter of fiscal 2011." With sales down, losses are up, with a net loss of $30.1m for the quarter compared with a net income of $6.4m for the same period last year.

So with all bets on UFC 2010 for the quarter, and despite a stronger Metacritic score, it managed to move just 2.7m units compared with 2.9m units for its predecessor last year. "We built our plans for growth in UFC this year," Farrell told investors.

Though no new major titles are planned for the company's upcoming Q2 period, the remainder of the fiscal year holds releases for both Homefront and Red Faction: Armageddon, and THQ expects non-GAAP net sales "in the range of $845 million to $865 million" and "roughly breakeven" earnings for the year. The focus is very much on fiscal 2012, which includes major releases like Warhammer 40000: Space Marine and Darksiders 2. "We also delivered our most critically acclaimed E3 showing ever with a strong line-up of games in development, several of which are based on proven long-term franchises," Farrell says. "Our goal this fiscal year continues to be to position THQ for growth in fiscal 2012 and beyond."

THQ report: $30m Q1 loss, UFC Undisputed 2010 moves 2.7m units originally appeared on Joystiq on Mon, 09 Aug 2010 17:45:00 EST. Please see our terms for use of feeds.

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THQ CEO cautiously optimistic about 3D gaming

Alexander Sliwinski — Thu, 06 May 2010 09:30:00 EST

[Image Credit: Frank Reese]

THQ CEO Brian Farrell mentioned during an earnings call call yesterday that the publisher is interested in 3D gaming and sees it as part of the industry going forward -- but don't expect THQ to be leading the pack. Considering it's finally on a path to avoiding oblivion, spending heaps of cash to add the feature doesn't seem to be part of the current plan.

The executive explained, "There's some neat things we see. We need two things: We do need some additional console technology and I don't want to get into particulars on that, but more importantly and probably a little further out, is the install base of 3D-equipped TV sets or monitors."

Farrell doesn't believe 3D will be "meaningful for a couple years." The company will "watch the ramp of 3D monitors" and move based on that. Right now, THQ is likely focused on the realities of its 2D financial spreadsheet.

THQ CEO cautiously optimistic about 3D gaming originally appeared on Joystiq on Thu, 06 May 2010 09:30:00 EST. Please see our terms for use of feeds.

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Metro 2033 has been 'very profitable' for THQ, CEO says

James Ransom-Wiley — Wed, 05 May 2010 21:30:00 EST

Metro 2033 was released at the tail end of publisher THQ's last fiscal year, which ended March 31. With only two weeks of sales before the close of the fiscal fourth quarter, the 4A Games-developed title was not a huge factor in THQ's trumpeted turnaround. Still, THQ CEO Brain Farrell took a few moments during the company's earnings call today to highlight the game's sales to date, which contributed to fourth quarter sales growth for the publisher and could be a standout figure in its first quarter of the new fiscal year. "It's a very profitable title for us," Farrell said, without disclosing a number.

Farrell did reveal that Europe has accounted for roughly two-thirds of Metro 2033 sales, as forecast by the publisher, with North America buying up the remaining units sold. "A lot of the sales were done on PC," he added, "and a lot of the sales were also done through digital mechanisms that don't get captured by any service."

The CEO attributed profits to the game's low-cost development model, "so when we get to even pretty modest levels of sales, we're still making good money." (First-time, Eastern European studios make cheap games, apparently.) "And we like that model going forward," Farrell noted, when it produces a high-quality game.

After all, first-time, Eastern European studios can make good, cheap games, too. (Apparently.)

Metro 2033 has been 'very profitable' for THQ, CEO says originally appeared on Joystiq on Wed, 05 May 2010 21:30:00 EST. Please see our terms for use of feeds.

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Next Red Faction to be unveiled 'later this month'

Christopher Grant — Wed, 05 May 2010 20:10:00 EST

THQ has never been shy about reflecting on the job it did marketing Red Faction: Guerrilla's launch. "I'd give us a 'B' on the launch of Red Faction: Guerrilla," CEO Brian Farrell admitted to investors last July. Today, on a generally upbeat earnings call -- sales are up and quality is definitely up! -- Farrell again questioned the launch of the title, but this time with a new focus, saying, "I think we did a great job on the game, I think we did an average job on demand creation."

Demand creation is the new game in town at THQ's Core Games unit, and Farrell thinks the company has got this nut cracked for the next Red Faction title. "I think you'll see that in spades," Farrell said about creating that all-important demand creation for the future Red Faction. "You'll see it in the way we unveil it later this month." But it's not all about building hyp-err, demand creation -- THQ has got the SyFy movie and all those free copies of Guerrilla to help with that -- it's also about improving the quality of the game itself.

Danny Bilson already told Joystiq that the next game would be more "narrative" and Farrell reaffirms that goal. "It's got a new storyline; we think that was one of the weaker points [in Guerrilla]," Farrell said. "Red Faction's always been a technological showpiece, and we wanted to add production values in terms of story and environment this year. And when you see the new Red Faction, it's just a much more appealing game universe."

When can you smash this more appealing game universe, you ask? Farrell mentioned a fiscal 2011 release window, which is open now and ends in March 2011, for the as-yet-unnamed sequel ... right when Bilson told us to expect it. But first things first, we'll learn more about this new, more narrative Red Faction "later this month." And then we'll tell you. (See, that's how this relationship works.)

Next Red Faction to be unveiled 'later this month' originally appeared on Joystiq on Wed, 05 May 2010 20:10:00 EST. Please see our terms for use of feeds.

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THQ CEO: Move & Natal games shouldn't be ports

JC Fletcher — Wed, 05 May 2010 19:50:00 EST

During an earnings conference call today, THQ CEO Brian Farrell told investors and press not to expect the publisher to release ports of its existing games for Project Natal or PlayStation Move. "What you will not see is porting of games to Natal, or I don't think you should see that," he said. "I think they should be specific, standalone game experiences that exploit that very new and significant technology. And the Move is the same way: You've got to do something unique and not just an add-on with respect to that platform."

Later in the call, however, Farrell did not entirely rule out ports of Wii games for PlayStation Move. When asked about the possibility of "Moving" games like De Blob (future iterations of which have been confirmed as multiplatform), Farrell said that THQ would "take advantage where we can in terms of development environments [and] take advantage of technology we already have," though he noted that because of the HD capabilities of the Xbox 360 and PS3, "just porting over those assets doesn't work." We'll see what THQ is developing with the new technologies next month, as Farrell said, "you'll like what we show at E3."

Even without porting, Farrell said that development costs for Natal and Move games were lower than on traditional games, "because, again, it's not about the technology, but it's about the gameplay." The big draw for Natal titles, he said, is the "interaction with digital objects." Farrell even alluded to passing the savings on to the consumer, rather than defaulting to a $60 retail price for future HD motion games published by THQ. He said that the company is "still deliberating internally on that" and "may not even announce those launch prices until much closer to the launch" of the games.

THQ CEO: Move & Natal games shouldn't be ports originally appeared on Joystiq on Wed, 05 May 2010 19:50:00 EST. Please see our terms for use of feeds.

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THQ: Warhammer 40K MMO will profit with 'anywhere near' a million subs

Mike Schramm — Wed, 05 May 2010 19:31:00 EST

Speaking during a financial earnings call, THQ CEO Brian Farrell said that the publisher is making a big investment with the upcoming Warhammer 40k MMO, but that if the game nets "anywhere near" a million subscribers, it will pay off. Farrell suggested that the company must spend "at the high-end of what it costs to build a core game" just to get the online title launched. But the return could be high, too: "Presuming that the MMO is successful," he said, "we could have a three-, five-, seven-year-long term revenue and profit driver with that very, very exciting brand."

Even if development costs continue to climb as expansion packs and additional post-release content is created, Farrell believes that spending more money on the project is a good sign. Farrell said that "if we're investing a lot over the next five to seven years of the MMO" by adding content, "that means it's doing very, very well."

Success doesn't mean you need to reach World of Warcraft numbers, either, according to Farrell. "We don't need the kind of subscriber levels that people throw around, like a million subscribers, to make a lot of money on this title. If we get anywhere near this level, we'll be making a lot of money."

The EA and Mythic-developed Warhammer Online peaked out at around 300,000 subscribers by last count, so THQ has a steep hill to climb. But Farrell is convinced the company can do it. "I love the game," he told listeners on the call. "Please come by the booth at E3. I think you'll like what you see."

THQ: Warhammer 40K MMO will profit with 'anywhere near' a million subs originally appeared on Joystiq on Wed, 05 May 2010 19:31:00 EST. Please see our terms for use of feeds.

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THQ records turnaround fiscal year, still loses $9m

Alexander Sliwinski — Wed, 05 May 2010 18:30:00 EST

THQ lost $9.6 million in its 2010 fiscal year (ending March 31), but that's nothing compared to the $431.1 million it lost the previous fiscal year. Yeah, we'd say this qualifies as a decent start in the company's proposed turnaround. THQ's software sales rose 8 percent this past fiscal year, which begin in April 2009, to $899.1 million, having established, as CEO Brian Farrell puts it, "three major core game franchises" in UFC, Darksiders and Red Faction.

In a conference call this afternoon, Farrell described fiscal 2010 as the company's turnaround year. Fiscal 2011 will be its "rebuilding" year, according to the CEO, and then 2012 should see the establishment of the fully operational and financially profitable "New THQ."

THQ records turnaround fiscal year, still loses $9m originally appeared on Joystiq on Wed, 05 May 2010 18:30:00 EST. Please see our terms for use of feeds.

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THQ CEO: Saints Row and Red Faction at E3, De Blob going multiplatform

JC Fletcher — Wed, 17 Feb 2010 09:30:00 EST

In an interview with IGN, THQ CEO (that's a lot of three-letter abbreviations right next to each other) Brian Farrell provided more details about the company's upcoming lineup. For one, we can expect to see the new Saints Row and Red Faction games as soon as E3, as well as other assorted games from THQ's lineup.

"I think we're going to blow people away at E3," Farrell said. "You'll be seeing Saints Row 3. You'll be seeing the next Red Faction. You'll be seeing more of Homefront. We've been talking about it, but we'll actually show some of our Warhammer 40k MMO, and I think people are going to go, 'Oh my God. They've got their stuff together.'" And Saints Row 3 will evidently cause some to remark, "This is not your father's THQ."

Farrell also suggested that THQ has learned its lesson from the last few years of the Wii market, and won't be trying anything like Deadly Creatures again -- a "fun experience" that "didn't find much of an audience." A few "brand extensions" will be shown on Wii this E3, Farrell said. And speaking of extended brands and the Wii, the executive said that the upcoming SyFy-fueled relaunch of De Blob won't just be a Wii game -- it'll be released across multiple platforms, still developed by Blue Tongue. "Actually, I prefer it on a normal controller," Farrell said.

THQ CEO: Saints Row and Red Faction at E3, De Blob going multiplatform originally appeared on Joystiq on Wed, 17 Feb 2010 09:30:00 EST. Please see our terms for use of feeds.

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THQ boss Brian Farrell calls Sony motion controller 'PlayStation Arc' ... a lot [update]

Randy Nelson — Wed, 03 Feb 2010 18:50:00 EST

Now there's a name we've heard before: "PlayStation Arc." Only now instead of being bandied around as rumor, it's been uttered by someone who should know something about it -- THQ chief executive officer Brian Farrell -- multiple times during the same investor call. "We are focused on our continued leadership in [casual games], taking advantage of the lower hardware price points that we expect will attract new mass market gamers, and new family-friendly platforms such as Microsoft's Natal and the PlayStation Arc motion controller," he announced.

The motion controller -- which was recently bumped back for release this fall and has yet to receive an official name -- was referred to as "Arc" by Farrell several more times, during both his prepared statement and subsequent Q&A session. Responding to a question on the company's plans for Natal and "Arc," Farrell replied that THQ "would like to be there at launch" for both motion control devices. We've contacted Sony for comment on Farrell's ... comments, but don't expect its reps to be as loose-lipped as the THQ boss.

Update: SCEA's senior director of corporate communications, Patrick Seybold, responded to our request for comment saying, "We haven't announced the final name of the product and the 'Arc' is a rumored code name."

THQ boss Brian Farrell calls Sony motion controller 'PlayStation Arc' ... a lot [update] originally appeared on Joystiq on Wed, 03 Feb 2010 18:50:00 EST. Please see our terms for use of feeds.

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De Blob to paint the town once again

JC Fletcher — Wed, 03 Feb 2010 18:05:00 EST

Back in early 2009, THQ hinted at more games in its De Blob franchise. In early 2010 ... it's hinting again. During an investor conference call, CEO Brian Farrell told us to expect more from its amorphous hero in fiscal 2011 (which takes place in real time between April 2010 and March 2011).

The franchise has been similarly amorphous, consisting of one Wii game, one iPhone game, and one cancelled DS game. Given THQ's recent attitude toward Nintendo consoles, if we were to guess a platform for whatever this new game is, we'd go iPhone.

De Blob to paint the town once again originally appeared on Joystiq on Wed, 03 Feb 2010 18:05:00 EST. Please see our terms for use of feeds.

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Darksiders, Saint's Row sequels from THQ in fiscal 2012

Mike Schramm — Wed, 03 Feb 2010 18:00:00 EST

THQ's Brian Farrell has revealed on today's investor conference call that the company is planning to revisit some of its most successful franchises as far away as the fiscal year of 2012 (which would be sometime after March 2011), including this year's bestseller Darksiders, and the popular Saint's Row franchise. Farrell says the company is looking to fiscal 2012 for "accelerated growth with three major core game titles scheduled: Warhammer 40k Space Marine, a sequel to Darksiders and the third generation of our popular Saint's Row franchise."

Given that these are more than a year away, we don't have any more information besides the fact that they're planned for release (Who will Darksiders ape next? Will Saint's Row finally solve all of those bugs?). But news of sequels for both games will be welcomed by their respective fans.

Darksiders, Saint's Row sequels from THQ in fiscal 2012 originally appeared on Joystiq on Wed, 03 Feb 2010 18:00:00 EST. Please see our terms for use of feeds.

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THQ prepping Homefront, new Red Faction for 'fiscal 2011'

David Hinkle — Wed, 03 Feb 2010 17:45:00 EST

During its annual investors conference call, THQ's Brian Farrell dropped details on that Homefront game we've been waiting on, as well as word on a new Red Faction title. Both will arrive during the company's fiscal 2011 window -- to us regular schmucks walking the streets, that's the period between April 2010 and March 31, 2011.

As for Homefront, it's really not news: THQ had already said the game will arrive sometime this year or early next. However, this Red Faction business is definitely news. We'll be crossing our fingers for more wacky animal-based weaponry this time around. Oh, and more stuff to blow up. Definitely more of that, please. Both games will be shown during E3 2010 in June.

THQ prepping Homefront, new Red Faction for 'fiscal 2011' originally appeared on Joystiq on Wed, 03 Feb 2010 17:45:00 EST. Please see our terms for use of feeds.

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THQ CEO gives Red Faction: Guerrilla launch a B; promises to do better next time

Christopher Grant — Thu, 30 Jul 2009 13:30:00 EST

Though "pleased" on the game's sell-through, THQ CEO Brian Farrell told a conference call on Tuesday, "I'd give us a B on the launch of Red Faction: Guerrilla." So, with a strong quarter - mostly driven by sales of its UFC game but also owing in part to RF:G - what did Farrell think THQ could do better for "the next iteration"? (What? You didn't think that was it, did you?). Farrell said, "We've shipped more than one million units of this title to date" and reported that "the game was a top 10 best seller in the US and UK in June" but admitted that THQ could have done a better job "creating day one demand."

"We moved the title a couple times, that doesn't help," Farrell confessed. "I'm very pleased with a lot of the strides we've made recently but that doesn't mean we can't do some things better." Sounds like a refreshingly honest assessment to us in the press and, we imagine, to the hundreds of thousands of gamers out there who picked up the game on incredibly strong word of mouth. Farrell acknowledges as much, saying, "The amount it's been dropping off, week after week, has been something that would indicate good word of mouth on the game based on the high Metacritic ratings." Sure enough, at "85" it ranks fifth for recent releases.

To make up for those ostensibly not-as-good-as-they-could've-been day one sales, THQ is looking to "drive future sales of Red Faction: Guerrilla with continued advertising support and new downloadable content," Farrell said. " We hope Red Faction has a long tail on it as we move into the holiday season." Downloadable content - which THQ has used to great effect with Saint's Row 2 - is about more than just revenue, Farrell says. "When we look at DLC, the revenue, it's not that great. It's good, but we also like the fact that it keeps the customers engaged with our games for a long period of time."

Of course, this reduces trade-in and used game sales, he explains, but it also helps "keep that brand active with consumers." Which is precisely what they'll have to do if they want to keep sales up in the increasingly spartan (and sans Spartans) but nevertheless competitive holiday shopping season.

THQ CEO gives Red Faction: Guerrilla launch a B; promises to do better next time originally appeared on Joystiq on Thu, 30 Jul 2009 13:30:00 EST. Please see our terms for use of feeds.

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Ubisoft and THQ CEOs on the declining (stable?) DS market, and piracy

Christopher Grant — Wed, 29 Jul 2009 04:31:00 EST

The CEOs of two of the largest video game publishers appeared to share completely contradictory views on one issue: the declining (or stable?) DS software sales market. Arguing one side was Yves Guillemot, CEO of Ubisoft, who blamed his company's poor Q1 showing in part on a declining DS software market. On the other side is Brian Farrel, CEO of THQ, who seemingly responded directly to Guillemot's accusation saying that "it's not a bad market."

Guillemot claimed that piracy in Europe, particularly Spain, was in part to blame for the drop in DS sales. Farrell said, "I know there's been a lot of talk in Europe about piracy. We've been pleased with our DS, in particular, catalog sales. It's not a bad market." Both CEOs looked to the latest DS revision - the DSi - to ameliorate some of the piracy concerns. "For DSi, the piracy is a lot less than on the normal DS," Guillemot said. Farrell said, in keeping with his promising view of the DS market, "We think there's some growth coming with the DSi."

While the PSP has certainly had its fair share of piracy over the years, Guillemot praised Sony's evolution of the machine. "The PSP has always been a machine with lots of piracy, so it's a machine we were not developing too much on because it was pirated. Now there are new ways to control the piracy so we have reinvested on the machine." That reinvestment has obviously come in the form of Assassin's Creed: Bloodlines. "It'll be interesting to see how the PSP business continues with Sony's new entry," Farrell said, referring to the PSP go. "But we're not seeing any major trends in the handheld business between the DS, PSP, and even the iPhone that are affecting our overall outlook at this time."

Ubisoft, for its part, is looking for other, unique ways to curb piracy on platforms like the DS. "We are working to put new figurines and new elements in the box that will change [the impact of piracy] in the future but in the short term it's effecting us," Guillemot said. It'll effect you a lot less if you bundle some of those adorable Rabbid figurines with every game you ship. Just sayin'.

[image credit]

Ubisoft and THQ CEOs on the declining (stable?) DS market, and piracy originally appeared on Joystiq on Wed, 29 Jul 2009 04:31:00 EST. Please see our terms for use of feeds.

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THQ and Ubisoft CEOs on console price cuts

Christopher Grant — Tue, 28 Jul 2009 21:30:00 EST

With back to back conference calls this week by Ubisoft on Monday and THQ on Tuesday, we were treated to CEO-level insight into on some of the issues facing the gaming industry. Both Yves Guillemot from Ubisoft and Brian Farrell from THQ addressed the looming console price drops and we dutifully scribbled down every word.

Both agreed it wasn't their place to confirm any price drops. "We can't comment because it would depend very much on how those guys sell their machines and how ... they can decrease the price of those machines," said Guillemot. "Obviously we'll let the hardware guys announce the magnitude and timing [of a price cut]," said Farrell.

But just because they're not going to confirm a price drop doesn't mean they're not going to share their company's opinions on whether one is coming or not. "We think the battle between the three manufacturers will really be very fierce this year. All of them will really push hard to get this Christmas sale," Guillemot said in rough English. "They will act, we think."

Farrell was a little more specific: "The fact that Nintendo Wii is still at its launch price and PlayStation 3 is still at a relatively high price point by historical standards ... just look at the hardware numbers and it would seem that a price cut would be in order by at least two of the three manufacturers."

While Guillemot ended the price cuts discussion with hopeful remarks about the effect console price drops would have on his software business - "if the machines are going down in price, we can see a big increase of sales on all the machines" - Farrell was a little more direct stating, "Price cuts, again - they are factored into our guidance, our internal model. We do anticipate price cuts coming this Fall ... something on the higher end of the range certainly wouldn't surprise us."

Well, with all this chatter, it wouldn't surprise us either, Brian. Drop your best estimates in the comments.

THQ and Ubisoft CEOs on console price cuts originally appeared on Joystiq on Tue, 28 Jul 2009 21:30:00 EST. Please see our terms for use of feeds.

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THQ has had Project Natal 'for some time'

David Hinkle — Fri, 26 Jun 2009 16:45:00 EST

With Microsoft revealing Project Natal earlier this month, we've seen some of the things Microsoft and its studios are doing with the peripheral (not to mention the talent enlisted), but what about third parties? We know of at least one developer who has had Natal, and that's THQ. CEO Brian Farrell reveals (via G4) that his company has "had kits for some time," somewhere around "4, 6 weeks, however long they've been available."

While not confirming any projects yet, Farrell did say that top men (top men) in his company have been checking out Natal and brainstorming.

THQ has had Project Natal 'for some time' originally appeared on Joystiq on Fri, 26 Jun 2009 16:45:00 EST. Please see our terms for use of feeds.

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THQ reorganizes management into three distinct divisions

Alexander Sliwinski — Wed, 24 Jun 2009 16:00:00 EST

The "New THQ" keeps rolling forward as the company reorganizes to support three key strategies: Core, "Kids, Family and Casual" and Online. The business units will each have an executive vice president who reports to THQ CEO Brian Farrell.

The new alignment certainly makes it very clear whose head goes on the platter when a division is failing. Or, in the more polite words of CEO Farrell, "The new structure specifically aligns our primary business units with our product strategy, enabling each team to focus on planning and execution in highly defined product areas with full profit and loss responsibility." Of course, if all three divisions fail -- which has been THQ's fate of late -- we expect those new branches of the company will be getting a new boss.

THQ reorganizes management into three distinct divisions originally appeared on Joystiq on Wed, 24 Jun 2009 16:00:00 EST. Please see our terms for use of feeds.

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THQ achieves cost savings goal (thanks, everyone who got fired!)

Alexander Sliwinski — Thu, 02 Apr 2009 14:45:00 EST

Intercepted communiqué from THQ to all former employees:

Dear Fallen Comrades,

We thought you'd like you to know that your removal from the ledger helped us achieve our goal of removing $220 million from the budget. Isn't that awesome?! Our illustrious leader, CEO Brian Farrell, would like you to know that your former employer's goal to reach "profitability and generate positive cash flow" will hopefully occur in fiscal 2010. In the meantime, we expect to announce $45 million in business realignment expenses, $4 million in severance and "other employee-related costs" and $41 million in "impairment charges" related to cancellation of games and studio closures.

Best of luck in finding new jobs.

XOXO,
Your Former & Ever-loving Employer

THQ achieves cost savings goal (thanks, everyone who got fired!) originally appeared on Joystiq on Thu, 02 Apr 2009 14:45:00 EST. Please see our terms for use of feeds.

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THQ's Farrell says company is aiming for core foothold

Xav de Matos — Wed, 11 Mar 2009 18:15:00 EST

THQ CEO Brian Farrell believes his company can still gain footing in the core gaming market, focusing on a quality level that "resonates with the consumers and the press." Speaking at the Wedbush Morgan Securities annual conference, attended by Gamasutra, Farrell maintains THQ has continued to strike a chord with the core audience. Saint's Row 2 -- a game Farrell described as "the number-two open-world game in the category" behind Rockstar's GTA -- has "done 2.6 million units life to date." Whether "done" means sold or shipped, is unclear.

Farrell also told the audience the Warhammer 40K franchise is one "we should start talking about more." Citing upwards of 4 million units for the original Dawn of War RTS, through initial release to expansion and gold edition. In its first week, Dawn of War 2 jumped to the top of the PC sales charts.

Farrell could be accused of shining as might positive light on the current poor situation his company is in. Analysts have predicted the publisher has a 50% chance of bankruptcy since THQ reported a net loss of $191.8 million for the three months ending December 31, 2008, and a loss of 24 percent of its workforce. As for Farrell's comments, it could be said that achieving a quality bar may be difficult when the company has recently decided to axe a large portion of Quality Assurance employees from Volition, the team behind Saint's Row 2. In the streets, we call that irony.

THQ's Farrell says company is aiming for core foothold originally appeared on Joystiq on Wed, 11 Mar 2009 18:15:00 EST. Please see our terms for use of feeds.

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Analyst: THQ has 50% chance of bankruptcy

Alexander Sliwinski — Mon, 02 Mar 2009 13:20:00 EST

THQ is barely hanging on, according to Janco Partners analyst Mike Hickey, who sees the company's chances of going bankrupt at 50/50. Speaking with the LA Business Journal, the prognosticator points out the publisher currently has mediocre product and is losing cash like it's battling Midway for an award in corporate ineptitude.

THQ CEO Brian Farrell says that talk of an acquisition or bankruptcy "makes for good print and sells newspapers," but notes that the company currently has a plan to get through this tough time. THQ's licensed titles, which are footing some of the blame for the current predicament, have always formed a powerhouse, but those titles don't provide the margins of original games. Currently, the company's fate rests on the performance of Dawn of War 2 and ... 50 Cent: Blood on the Sand.

[via GI.biz]

Analyst: THQ has 50% chance of bankruptcy originally appeared on Joystiq on Mon, 02 Mar 2009 13:20:00 EST. Please see our terms for use of feeds.

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THQ's new strategy is to make a few 'core' titles yearly

Alexander Sliwinski — Thu, 13 Nov 2008 16:43:00 EST

Filed under: Business

THQ CEO Brian Farrell has revealed that the company plans to only release one or two hardcore titles as part of its "significant business realignment." According to Gamespot, Farrell stated at a recent conference that the new model would cut the publisher's previous development expectations in half and focus on quality over quantity.

Don't expect to see the changes until at least 2010. THQ already has four core titles set for 2009: Red Faction: Guerilla, Warhammer 40K: Dawn of War 2, Darksiders: Wrath of War and Company of Heroes: Tales of Valor. Saints Row 3 could become one of those two 2010 titles, considering the game is currently in development.

THQ's new strategy is to make a few 'core' titles yearly originally appeared on Joystiq on Thu, 13 Nov 2008 16:43:00 EST. Please see our terms for use of feeds.

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THQ reveals 'Significant Business Realignment'

James Ransom-Wiley — Wed, 05 Nov 2008 17:56:00 EST

Filed under: Business

No, it's not a new game title. It's the real-life struggle of THQ, which made word of internal studio closings and significant layoffs official today, as it reported losses of $115.3 million in its fiscal Q2. In total, five studios will be shuttered and 250 employees released (approximately 17 percent of the publisher's workforce), and the company will reduce its forecasted development spending by $100 million in the fiscal 2010 year. "THQ plans to focus on fewer, higher quality titles, and to align its organization and cost structure accordingly," outlines the quarterly financial report. "We will dominate the fighting category!" added CEO Brian Farrell during today's conference call, plugging upcoming WWE and UFC titles.

As for those "higher quality titles," THQ has pushed Volition's Red Faction: Guerrilla into the first quarter of fiscal 2010 (April-June 2009) and Darksiders: Wrath of War into the second quarter (July-September 2009). Also absent in the short term, CFO Colin Slade will be taking an unspecified medical leave of absence. "I'm looking forward to returning to THQ as soon as possible," said Slade before retiring from the call.

THQ reveals 'Significant Business Realignment' originally appeared on Joystiq on Wed, 05 Nov 2008 17:56:00 EST. Please see our terms for use of feeds.

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