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38 Studios in Financial Trouble?

A Rhode Island news report says 38 Studios is in financial distress, and the developer founded by former major league pitcher Curt Schilling is in discussions with the state on how to stay afloat. "We're always working to keep Rhode Island companies solvent, and that's what we're doing with 38 Studios," said Rhode Island Governor Lincoln Chafee. "We're working with 38 Studios on different issues. That's all I can report right now." 38 Studios moved to Rhode Island in September after securing $75 million in loan guarantees from the state. Their first game, Kingdoms of Amalur: Reckoning, was released in February, but the story cites NPD data saying the game has sold only around 410K copies across three platforms. Thanks Strategy Informer.

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37. Re: 38 Studios in Financial Trouble? May 15, 2012, 22:07 eRe4s3r
 
In this case I think they sentenced themselves to death before this game ever made it gold. They tried for an MMO.. and something you really have to hit INDY DEVELOPERS on the head with is that no Indy MMO was EVER good. Unless it plays in space (because there, you really just need good ships and good spacey mechanics, not a fully designed and fleshed out rpg world)  
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36. Re: 38 Studios in Financial Trouble? May 15, 2012, 15:38 netnerd85
 
Creston wrote on May 15, 2012, 14:11:
"The state said its backing would help the company bring hundreds of jobs and millions of dollars of tax revenue to the state"

Yeah, because video game developers pay SO MUCH in taxes. Rolleyes

I think EA hasn't paid a dime in taxes since like 2002.

Creston
And where is your source for such a claim?
 
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35. Re: 38 Studios in Financial Trouble? May 15, 2012, 14:19 Creston
 
bhcompy wrote on May 15, 2012, 10:57:
UttiniDaKilrJawa wrote on May 14, 2012, 22:27:
Actually, I never even made it that far to find out all that stuff. As far as I was concerned the story just seemed extremely generic and failed to hook me at all. Which I found really dissappointing because I really like RA Salvatores stuff.

What is this I don't even

Salvatore is extremely generic by trade. The only person worse than Salvatore is Kevin J Anderson.

This ^ 5 billion.

RA fucking Salvatore.

Creston
 
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34. Re: 38 Studios in Financial Trouble? May 15, 2012, 14:11 Creston
 
"The state said its backing would help the company bring hundreds of jobs and millions of dollars of tax revenue to the state"

Yeah, because video game developers pay SO MUCH in taxes. Rolleyes

I think EA hasn't paid a dime in taxes since like 2002.

Creston
 
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33. Re: 38 Studios in Financial Trouble? May 15, 2012, 11:47 Verno
 
spindoctor wrote on May 15, 2012, 10:17:
Be that as it may, I don't believe their first attempt was such an egregious offense so as to warrant a sentence of death on the studio.

Why shouldn't it be? They consumed tens of millions of dollars, much of it in taxpayer subsidies. I have no problem with this potentially being a business ender, I sympathize with the employees and others affected but it was a huge gamble that didn't pay off. As others have pointed out there were other sensible approaches that didn't depend on the product selling a few million copies or expending so much money. They chose the blockbuster approach for their first product, it was extremely reckless. I think it sucks for everyone involved and I love Curt's enthusiasm but it is what it is.
 
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32. Re: 38 Studios in Financial Trouble? May 15, 2012, 11:31 PHJF
 
Fuck Salvatore, they had Todd McFarlane on art design and still somehow managed to make a completely bland product.  
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Steam + PSN: PHJF
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31. Re: 38 Studios in Financial Trouble? May 15, 2012, 10:57 bhcompy
 
UttiniDaKilrJawa wrote on May 14, 2012, 22:27:
Actually, I never even made it that far to find out all that stuff. As far as I was concerned the story just seemed extremely generic and failed to hook me at all. Which I found really dissappointing because I really like RA Salvatores stuff.

What is this I don't even

Salvatore is extremely generic by trade. The only person worse than Salvatore is Kevin J Anderson.
 
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30. Re: 38 Studios in Financial Trouble? May 15, 2012, 10:31 Parallax Abstraction
 
CNCGEEK101 wrote on May 15, 2012, 08:23:
410k sold? Sorry anybody who believes those sales numbers is full of crap cause neither Origin nor Steam provides sales numbers. I estimate 1.2 million sales if you include the digital sales numbers with the physical copy sales though.

I don't know if those predictions are right or not but as usual, NPD numbers (which is what that 410K number is) are useless. They only count the US, ignore digital sales entirely and don't even count all retailers. NPD numbers are about as useful as analyst predictions (i.e. not at all).
 
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29. Re: 38 Studios in Financial Trouble? May 15, 2012, 10:29 Beamer
 
InBlack wrote on May 15, 2012, 10:18:
Who in their right mind calls their studio 38 Studios???? 38? Talk about huge Egos, like 38x the size of a regular Ego. Destined to fail...

Unsarcastically, at least it isn't bloody sock studios. It was a splinter!
 
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28. Re: 38 Studios in Financial Trouble? May 15, 2012, 10:29 Prez
 
Eh? Schilling's number is 38 - What's so bad about that?

Anyway, despite the fact I hate MMO's and Schilling's studio was built to build them, I can't help being a little sad about this. The guy is such an enthusiastic fan of gaming; he even wrote a very good review of one of the Everquest expansions for PC Gamer. He got the gig because he and the EiC back then (Rob Smith) were EQ buddies. Not many high paid celebrities would be caught cavorting with the little people like that.
 
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27. Re: 38 Studios in Financial Trouble? May 15, 2012, 10:18 InBlack
 
Who in their right mind calls their studio 38 Studios???? 38? Talk about huge Egos, like 38x the size of a regular Ego. Destined to fail...  
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I have a nifty blue line!
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26. Re: 38 Studios in Financial Trouble? May 15, 2012, 10:17 spindoctor
 
Kajetan wrote on May 15, 2012, 07:24:
spindoctor wrote on May 15, 2012, 06:40:
I'd hate an industry where new studios can't succeed and the RPG genre gets left to only a handful of major companies like the above mentioned ones.
You can compete. Make a small game at first. Then, if the first game was a success, make a bigger game. And so on. Until you also can spend quadrupel of billions of dollars on facial animation or the polishing of the Save/Load-Screen.

38Studios tried to compete with the big players with a very expensive and somewhat boring and mediocre game. Not the smartest move ... compared to companies like CD Project. Who now are on the same production level as Bioware etc. and still dont have to spend dozens of millions.

Be that as it may, I don't believe their first attempt was such an egregious offense so as to warrant a sentence of death on the studio.
 
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25. Re: 38 Studios in Financial Trouble? May 15, 2012, 09:32 Beamer
 
CNCGEEK101 wrote on May 15, 2012, 08:23:
410k sold? Sorry anybody who believes those sales numbers is full of crap cause neither Origin nor Steam provides sales numbers. I estimate 1.2 million sales if you include the digital sales numbers with the physical copy sales though.

So you think it sold roughly 3x on Steam and Origin what it sold on consoles?
 
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http://www.hydrahead.com
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24. Re: 38 Studios in Financial Trouble? May 15, 2012, 09:20 Kajetan
 
SXO wrote on May 15, 2012, 09:04:
Don't be surprised if the Warhammer 40k MMO recently announced to being switching gears into a SP game feels exactly the same way.
I would gladly pay full retail price for World of Warcraft SP game. Last week i watched the Southpark episode again and felt such a surge to play WoW again ... than i remembered that i have to rent a certain amount of game time and the surge dissappeared quickly.
 
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23. Re: 38 Studios in Financial Trouble? May 15, 2012, 09:15 Verno
 
SXO wrote on May 15, 2012, 09:04:
You guys do realize the reason it feels like an MMO is because that's what 38 Studios set about making in the first place?

That was split off long before into a different project. This is what Big Huge Games was working on and was a singleplayer project the entire time. There was talk of using some features of the engine for the MMO but that was it.

Anyway Kingdoms of Amalur: Reckoning was a poorly named, thoroughly middle of the road title that showed almost no design ambition other than scope. They spent a lot of money and didn't have much to show for it. No innovation and no spin on the RPG systems they borrowed liberally from other titles. It was not a bad game per se but it certainly wasn't very good either. Also when you need worldbuilding in fantasy these days you don't turn to RA Salvatore.
 
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22. Re: 38 Studios in Financial Trouble? May 15, 2012, 09:04 SXO
 
You guys do realize the reason it feels like an MMO is because that's what 38 Studios set about making in the first place? Curt was a huge EQ2 fan (I played back when he did), and he decided to create a game company and create his own MMO..... like if it was that simple. They ran out of money several times, I remember following the development since the beginning, and they kept having to find more investors. It wasn't until they revamped it into a SP game that the game received much coverage, but by then I was seriously questioning whether anything they released could make up for all those years of money being sunk into development.

Don't be surprised if the Warhammer 40k MMO recently announced to being switching gears into a SP game feels exactly the same way.
 
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21. Re: 38 Studios in Financial Trouble? May 15, 2012, 08:23 CNCGEEK101
 
410k sold? Sorry anybody who believes those sales numbers is full of crap cause neither Origin nor Steam provides sales numbers. I estimate 1.2 million sales if you include the digital sales numbers with the physical copy sales though.  
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20. Re: 38 Studios in Financial Trouble? May 15, 2012, 07:24 Kajetan
 
spindoctor wrote on May 15, 2012, 06:40:
I'd hate an industry where new studios can't succeed and the RPG genre gets left to only a handful of major companies like the above mentioned ones.
You can compete. Make a small game at first. Then, if the first game was a success, make a bigger game. And so on. Until you also can spend quadrupel of billions of dollars on facial animation or the polishing of the Save/Load-Screen.

38Studios tried to compete with the big players with a very expensive and somewhat boring and mediocre game. Not the smartest move ... compared to companies like CD Project. Who now are on the same production level as Bioware etc. and still dont have to spend dozens of millions.
 
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19. Re: 38 Studios in Financial Trouble? May 15, 2012, 06:40 spindoctor
 
I kind of dropped Amalur after a few hours and never went back. I was having fun with it but I also agree with the criticism that it was World of Warcraft MMO style gameplay made into a single player experience.

Still, it's a shame that they might be facing financial troubles. Amalur might not have been the most creative of games out there, but it still provided some kind of variety to the kind of games made by other studios like Bioware, Bethesda etc. I'd hate an industry where new studios can't succeed and the RPG genre gets left to only a handful of major companies like the above mentioned ones.
 
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18. Re: 38 Studios in Financial Trouble? May 15, 2012, 06:10 Angrius Maximis
 
Yes...this game WAS that bad  
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