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GOG.com Announces GOG Direct to Account

The flurry of activity at GOG.com continues, as the DRM-free game store is updating their EULA and Privacy Policy following recent news of layoffs and the end of their Fair Price Package program. That latter news in part of the update, which also describes a new functionality called GOG Direct to Account "that will enable partnered platforms to activate, directly on your GOG.COM account, content purchased via these selected third party platforms." Here are the changes, which are set to roll out 30 days from now:

We’re updating our User Agreement and Privacy Policy, the documents that govern our relationship with you.

Why?
We want to let you know about few changes: (1) We’re adding a new functionality - GOG Direct to Account that will enable partnered platforms to activate, directly on your GOG.COM account, content purchased via these selected third party platforms; (2) we’re concluding the Fair Price Package program that some users were eligible for. For more details please see here. (3) We’ve also refreshed our Voluntary Refund Policy now offering refunds for GOG Wallet funds.

What?
We wanted to reflect all this in our policies. Plus we did some minor tidying up of the documents. You can see the updated terms here.

How?
We’re notifying you now by email, the updated versions are on the GOG.COM website and the changes take effect 30 days from now (you'll find more information about this in our User Agreement).

Do I need to do anything?
Nope.

What if I have questions?
Please contact us here and we’ll be happy to help.

View
18. Re: GOG.com Announces GOG Direct to Account Feb 27, 2019, 17:15 Beamer
 
CJ_Parker wrote on Feb 27, 2019, 17:00:
WaltC wrote on Feb 27, 2019, 16:27:
I agree with this...nothing here really to make one think they were in any kind of financial straits. It's not even clear that GOG is in the "red" (except of course for CDPRed...;))

The GOG segment did in fact post a loss for Q3/2018 and for the first nine months of 2018.

In Q3/2018 the GOG segment reported an operating loss of 835,000 PLN which is ~US$ 220,000.

Likewise, they reported an operating loss of PLN 1,365,000 for the first nine months of 2018 which is about ~US$360K.

In 2017 they still reported profits for both periods. It is pretty clear that fading Witcher sales and a disappointing market acceptance of their standalone GWENT game has resulted in a poor performance throughout 2018.

The GOG.com segment also obtains revenues from microtransactions carried out in the framework of GWENT: The Witcher Card Game. The corresponding revenues depend on gamer interest, as well as on the game’s publishing schedule, including milestones such as the launch of the public beta (Q2 2017) and major updates (e.g. new card sets).

Revenues associated with GWENT leveled off in the second and third quarters of 2018, in association with the ongoing Homecoming project.

... and (they try to make it sound better than it is)...

Both in Q3 2018 and in the nine-month period since the beginning of the year the Group reported lower sales revenues in the GOG.com segment compared to the corresponding reference periods in 2017. Aggregate sales revenues in the first three quarters of 2018 were 92 685 thousand PLN, i.e. 28% lower than in the corresponding period in 2017. In Q3 the segment generated 28 109 thousand PLN in sales revenues, i.e. 16% less than in Q3 2017. Nevertheless, when denominated in USD (the primary transaction currency for GOG.com sales), total revenues from online sales carried out via GOG.com and GOG Galaxy for products licensed from external suppliers (i.e. not affected by the release schedule of CD PROJEKT RED), aggregated over the nine-month period between 1 January and 30 September 2018, were 24 732 USD, which represents a 22% increase compared to the reference period in 2017

... and here is why they no longer do the fair price thing (eliminating regional pricing by giving customers store credit)...

The average USD/PLN exchange rate at the close of each trading day comprising the first nine months of 2018 was 3.56, compared to 3.84 in the reference period in 2017. Given that 94% of the Capital Group’s sales in Q1-Q3 2018 were exports, this strengthening of PLN against USD (based on the abovementioned average exchange rates) means that for each dollar collected in payments during Q1-Q3 2018 GOG.com’s revenues were 0.28 PLN lower than during the reference period (a decrease of more than 7%).Moreover, during the first half of the current year the ratio between the reported value of goods and materials sold and the corresponding revenues from sales of goods and materials (i.e. gross sales profit) was impacted by the unfavorable relation between the average exchange rates for each day of a given month, and the exchange rate in force on the final day of that month. More information regarding this issue may be found in the commentary section attached to GOG.com results in the Management Board report on CD PROJEKT Capital Group activities for the period between 1 January and 30 June 2018

Source

I always appreciate your instinct to Google this and find some evidence instead of shooting authoritatively from your gut. CDPR is a public company, and linking to their financials is super useful.
 
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Previous Post Next Post Reply Quote Edit Delete Report
 
    Date Subject Author
  1. Feb 27, 10:19 Re: GOG.com Announces GOG Direct to Account RedEye9
  2. Feb 27, 10:52  Re: Skyrim Creation Club Launches with Survival Mode Kajetan
  3. Feb 27, 10:54 Re: GOG.com Announces GOG Direct to Account RedEye9
  10. Feb 27, 15:45  Re: GOG.com Announces GOG Direct to Account MeanJim
  11. Feb 27, 15:58   Re: GOG.com Announces GOG Direct to Account RedEye9
  12. Feb 27, 16:26    Re: GOG.com Announces GOG Direct to Account Burrito of Peace
  20. Feb 27, 20:44     Re: GOG.com Announces GOG Direct to Account MeanJim
  21. Feb 27, 20:57      Re: GOG.com Announces GOG Direct to Account Burrito of Peace
  24. Feb 28, 04:14       Re: GOG.com Announces GOG Direct to Account MeanJim
  25. Feb 28, 06:39        Re: GOG.com Announces GOG Direct to Account Burrito of Peace
  26. Feb 28, 22:49         Re: GOG.com Announces GOG Direct to Account MeanJim
  4. Feb 27, 11:41 Re: GOG.com Announces GOG Direct to Account WaltC
  5. Feb 27, 12:15  Re: GOG.com Announces GOG Direct to Account Darks
  7. Feb 27, 12:34   Re: GOG.com Announces GOG Direct to Account MoreLuckThanSkill
  8. Feb 27, 12:41    Re: GOG.com Announces GOG Direct to Account Luke
  13. Feb 27, 16:27    Re: GOG.com Announces GOG Direct to Account WaltC
  17. Feb 27, 17:00     Re: GOG.com Announces GOG Direct to Account CJ_Parker
>> 18. Feb 27, 17:15      Re: GOG.com Announces GOG Direct to Account Beamer
  6. Feb 27, 12:30  Re: GOG.com Announces GOG Direct to Account eRe4s3r
  16. Feb 27, 16:38   Re: GOG.com Announces GOG Direct to Account WaltC
  9. Feb 27, 12:49 Re: GOG.com Announces GOG Direct to Account Acleacius
  14. Feb 27, 16:28 Re: GOG.com Announces GOG Direct to Account CJ_Parker
  15. Feb 27, 16:33 Re: GOG.com Announces GOG Direct to Account christheshitter
  19. Feb 27, 17:26 Re: GOG.com Announces GOG Direct to Account Tipsy McStagger
  22. Feb 27, 22:40  Re: GOG.com Announces GOG Direct to Account MoreLuckThanSkill
  23. Feb 28, 02:10  Re: GOG.com Announces GOG Direct to Account Paragon of Virtue


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