Funcom’s Q3 2016 financials hint at large Secret World update in early 2017

Fans of The Secret World should be excited today, as Funcom’s third quarter financial report to investors reveals that “The Secret World team is mainly focused on a large update to the game to be released during the first half of 2017.” The update is expected to be a “major upgrade to both retention and acquisition mechanics and content of the game to counter the declining revenues” with more info coming in the first quarter of the new year.

The announcement was part of the investor package posted today; the company says it raised almost a million dollars through its share offering in August, improving its total equity since Q2. “Revenues in 3Q16 amount to USD 1,728 thousand compared to USD 2,195 thousand in 3Q15, following a gradual and expected decrease in the sales from the current Live Games. […] The cash position improved from USD 5,100 thousand at the end of 2Q16 to USD 5,208 thousand at the end of 3Q16, mainly due to the net proceeds received from the subsequent offering. The Live Games – The Secret World, Anarchy Online and Age of Conan – were the major contributors to the revenues.”

And what about those other games? As to Hide and Shriek, Funcom said “the project’s goal has been met and the team is preparing for new game concepts, while working on the previously mentioned The Secret World update.” Last year’s The Park will have “no further development,” and LEGO Minifigures Online, of course, sunsetted last month. Anarchy Online, meanwhile, is set for a steam launch before the end of the year, and Age of Conan is prepping the Slithering Chaos dungeon.

Funcom is likewise focused on Conan Exiles. “Development is progressing according to plan,” it says, with Xbox One development underway. Expect an avalanche of media later this month. The studio is also working on yet another Conan game to be revealed after Conan Exiles hits early access, and the North Carolina studio will begin prototyping what will likely become the 2017 Halloween standalone game next year, with more details on that to arrive after The Secret World’s mega-patch lands.

Source: Funcom investor relations. Thanks, Cimeas!
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