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Amid industry slump, analyst calls financial concerns at 38 Studios unsurprising

May 15, 2012

New York-based video game analyst Billy Pidgeon says he’s not surprised that 38 Studios is facing financial uncertainty.

Pidgeon says quite a few video game makers are experiencing money questions, particularly those — like 38 Studios — that are developing subscription-based massively multi-player online games:

“They have been at work on their own for some time and that’s where I think the money is going, because you need to maintain this considerable amount of overhead to continue to work on a massively multi-player online game that’s going to compete worldwide.”

The entire industry is in a slump. But Pidgeon isn’t prepared to write off 38 Studios. He says the company needs to either launch its big game or kill it. “It would be quite unusual if they killed it,” he adds.

Pidgeon says 38 Studios could potentially form new alliances with other studios. “They have quite a bit of talent and quite a bit of great work done on their [massively multi-player online game] so far,” he says. “So I think it would in the best interest of a lot of people to finish that.”

A release date has not been announced for 38 Studios’ next product.

In related news:

— An EDC spokesman says EDC director Keith Stokes is unavailable for an interview due to his schedule.

— A number of people raised questions about the state’s deal with 38 Studios back in 2010, including RIPR political analyst Scott MacKay.

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