The games division of RealNetworks [NASDAQ: RNWK] reported sales of $28.1 million for the three months ending June 30, 2010. This is a 5 percent drop year-on-year.
Game revenue for the first half of 2010 was $58.4 million, down 6.7 percent year-on-year.
The company, which sells casual web games through portals such as RealArcade.com, GameHouse.com and Zylom.com, mobile games via carriers, and directly on the App Store, is currently undergoing corporate restructuring.
During 2009, its total game sales were $122.8 million.
New boss
As part of these changes, Real announced Matt Hulett was replacing John Barbour as the head of its games business.
"Given the urgent need to pivot our games business to social and online games, we think it is critical to have a leader based here in Seattle," said Bob Kimball, president and CEO of RealNetworks.
"Matt has the right combination of leadership skills, online business experience and support from the team to refocus our games business on the growth markets, including social games."
Real's overall Q2 2010 results, including its music and technology divisions, saw revenue of $88.9 million and a net loss of $25.9 million. This included restructuring charges of $11.9 million due to employee severance costs and loss on excess office facilities.
The company said it expects Q3 figures to be lower, primarily due to softness in game sales.
Looking to the future
"We made strong progress transforming RealNetworks during the second quarter," said Kimball.
"Our restructuring efforts are ahead of plan. In the first six months of the year, we cut more than $30 million in annualised operating expenses from our ongoing businesses. Now it is time to focus on growing the business by improving our sales and marketing of existing products and building a strong pipeline of innovative products for the long term."
Real had $313.2 million in unrestricted cash, cash equivalents and short-term investments at June 30, compared with $335.2 million at March 31, 2010.
[source: RealNetworks]
News
Contributing Editor
A Pocket Gamer co-founder, Jon is Contributing Editor at PG.biz which means he acts like a slightly confused uncle who's forgotten where he's left his glasses. As well as letters and cameras, he likes imaginary numbers and legumes.
Related Articles
Top Stories
Feature
7 hours, 13 minutes ago
Why diversified revenue streams are the key to maximising monetisation
Feature
12 hours, 43 minutes ago
Hot Five: Dubai's new Gaming Visa, April's mobile game charts, and Xbox studio closures
News
May 10th, 2024
Week in Views - Xbox's mobile games store is doomed to fail, Sonic meets the Angry Birds, and Apple's iPad problem
Events
Valencia Indie Summit 2024 | Europe | May 16th |
Mobidictum Meetup Berlin May 2024 | Europe | May 16th |
Digital Dragons | Europe | May 19th |
GamesBeat Summit 2024 | North America | May 20th |
Mobidictum Meetup Tallinn May 2024 | Europe | May 21st |
Nordic Game Spring 2024 | Nordic | May 21st |
Impact 2024 - Indie Games | May 23rd | |
MomoCon 2024 | North America | May 24th |