Revenues from the second quarter topped $3.07M, a 79% increase from the same period in 2016. It still is a significant drop from the $10.92M revenue taken in during Q1 2017, and the studio was quick to note that Secret World Legends’ reboot had minimal impact during this quarter. Also during Q2, Funcom halved its debt and increased its equity by 40%, putting the company in a much more stable position.
The studio said that Secret World Legends’ relaunch “exceeded expectations” and that Conan Exiles was the main driver of the studio’s income for the quarter. There were apologies made in the presentation over Conan Exiles’ shaky Xbox One game preview rollout and assurances that the studio will get better at all of this by the time the survival title launches.
In the report, Funcom announced that it had signed a deal with Bearded Dragons to release a currently untitled game in 2018. According to the report, this game will be a “tactical turn-based strategy” title initially released for the PC. Additionally, Funcom’s various studios are working on a new Conan the Barbarian game for 2018 as well as a possible project that will depend on the performance of Secret World Legends.
It also commented on the bizarre announcement of The Secret World TV series, saying, “This activity is part of the company’s long term plan to develop and grow its IP portfolio and is not expected to contribute directly to the company’s financials for the next couple of years.”
To reflect the repositioning of “Funcom 2.0,” the studio has adopted a new logo to replace the one it’s been using since 2005. The reimagined Funcom logo is a screaming face against a white flag that supposedly represents tradition, ambition, and determination. “Internally we like to call it the new Funcom,” the studio said. “We’re not done yet, we still have work left to do, but we’re getting there.”