Next Games' revenue dropped 46 per cent year-on-year in H1 2018 as the studio prepared for two major mobile launches.
In the latest earnings for the Finnish studio, revenue came to $12.28 million, down from H1 2017’s $22.8 million.
The company also reported an operating loss of $9.3 million during H1 2018. A chunk of this ($4.5 million) was due to development costs for its new games.
The fall in revenue can also be attributed to the flagging performance of its flagship title The Walking Dead: No Man's Land. The company's daily active user base has fallen to just under 311k during the first half of the year, down from the 498k in the same period the year prior.
The number of monthly active users has also dropped year-on-year from 1.4 million to one million.
Next Games hopes to cover from the drop with its big new releases The Walking Dead: Our World and the soft-launched Blade Runner 2049.
Wait and see
“The first half of 2018, Next Games has focused on preparing for new game launches,” said Next Games CEO Teemu Huuhtanen.
“During this time we did not release new products and the development of our live game, The Walking Dead: No Man’s Land continued on a similar path set in early 2018 without significant changes.
“2018 will be a significant year for Next Games in many ways. During 2017 and early 2018 we have worked hard in preparation to scale our operation to launch new games on many fronts.
“I firmly believe team Next Games has succeeded in creating a robust foundation for our future.”