THQ announce shift in business strategy

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THQ have announced that they are to alter their business strategy, as the company moves away from children’s licensed video games to focus on its core video game franchises and digital initiatives.

The company will now aim to continue to build its strong portfolio of game franchises, aligning their resources to deliver games on both existing and new platforms. It intends to accelerate digital revenues by extending and supporting key console launches, as well as creating dedicated digital properties for emerging platforms.

Due to such shift, THQ will begin to exit relationships with children’s licensed entertainment companies although will continue to sell certain previous releases.

THQ’s five internal studios are developing games aligned to several of the company’s key franchises, including the upcoming launch of UFC Undisputed 3 and Darksiders II, as well as Company of Heroes, inSANE, Saints Row, Warhammer 40,000, and the new title from Patrice Désilets and his team.

Prominent external development talent also continue to work with the company on existing and new franchises, with THQ optimising its portfolio for the current generation of consoles as well as aiming to establish new franchises on the next generation of game devices.

It was recently revealed that THQ were working on two unannounced Wii U titles, as well as Darksiders II and Metro: Last Light previously confirmed for the system.

“THQ will be a more streamlined organization focused only on our strongest franchises”, comments Brian Farrell, President and CEO of THQ. “The success of Saints Row: The Third is an example of what our revised strategy and focus can achieve. We have now shipped 3.8 million units globally and are currently expecting to ship between five and six million units lifetime on this title. Additionally, our robust digital content offerings for this game have resulted in the highest digital revenue of any console title in our history”.

THQ will further discuss such realignment to its business model during their third quarter 2012 conference call to be held on February 2nd.

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