The Secret World – Poor performance blamed on Guild Wars 2 and pandas

[Source] A Funcom report released today puts The Secret World Sales at “over 200,000” as the company adjusts expectations down by $35 million US Dollars. In the report, Funcom once again cites poor US reviews as a contributing factor in the poor performance of The Secret World, as well as the announced launch dates of Guild Wars 2 and the Mists of Pandaria expansion to World of Warcraft.
Funcom states that they are “currently undergoing large cost cutting measures including reduction of around 50 % of its staff in all offices. The company is working towards ensuring that all of the live games as well as the company are cash-flow positive.”

“Initial sales of The Secret World have been below expectations, as communicated in the stock notice of the 10 August. The Company still considers it likely that sales for the 12 months period following launch of the game will be less than half of what was presented in the Conan-like scenario in the 1Q presentation. The company has recognized an impairment charge adjustment of the book value of the game) amounting to USD 35,000.
Also in the report are statements about the positive retention of those who do purchase The Secret World, as well as a statement that Funcom is “about to launch several initiatives to acquire more players.”

Personal thought: I can’t believe Funcom decided to blame other titles… From what I remembered, they talked about how their game will have an audience different from World of Warcraft and many more details which will see them hold their own fort. Funcom surely didn’t expect the game to attract the general masses with its niche theme and monthly payment business model?