Midway suffers midsized losses

Mortal Kombat publisher posts $22.2 million quarterly shortfall on 7 percent revenue slide--which is a $6.8 million improvement over last year.

Midway, the publisher once thought to be the next jewel in the Viacom multimedia empire's crown, reported earnings today for the quarter ending September 30, 2006. The publisher suffered a $22.2 million loss for the quarter, up from a $29.1 million loss during the same period in 2005.

That was the good news. Midway also saw overall revenue slide 7 percent during the quarter, which ended before its most recent high-profile release, the solid-selling and decently reviewed Mortal Kombat: Armageddon, hit stores last month. The company, which called out Ant Bully and Rise & Fall: Civilizations at War as being its top titles for the quarter, took in $27.4 million during the three-month period, down from $29.5 million.

Despite the shortfall, Midway executives were bullish in their outlook. "We were pleased to exceed our financial expectations for the third quarter and to continue our relationship with Warner Bros. with the third-quarter release of The Ant Bully and The Grim Adventures of Billy & Mandy," said CEO and president David Zucker.

Both Ant Bully and The Grim Adventures of Billy & Mandy are slated to be launch titles for the Wii, which goes on sale November 19. In addition, the company is also set to release Happy Feet (Wii, PC, PlayStation 2, GameCube, DS, Game Boy Advance), a tie-in to the Warner Bros. computer-animated, penguin-centric comedy coming to theaters November 17. A Wii version of Mortal Kombat: Armageddon is due out early next year.

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60 comments
XxchloroformxX
XxchloroformxX

I do enjoyed playing Stranglehold... thats awesome, and it was sequel to movie Hardboiled, and i heard stranglehold movie is in pre-production

JohnnyNeat
JohnnyNeat

I guess in having an emblem ready with this video interview, the decision was made to forget about the emblem after the fact to have a polished Video interview ready for us. The EMBLEM was deemed unnecessary, unimportant and inconsequential if we wanted a polished interview and an after the FACT demo out on time. Kind of like that genius idea to cut an online CO-OP feature that would have helped this generic rental/sale game. Go figure. Um let me see, without this sounding personal... Midway, want to know why you still in revenue? Well it's cheap, lazy lack luster games & down right bad decision making. Oh and I guess you better stick to big brother Viacom for help while selling & buying licensed game IPs cuss Hour of Victory will never be forgotten by those unlikely enough to know better.

jonnyfitness
jonnyfitness

If they brought the grid out on console or pc, that would be awesome

Mr_Saturn26
Mr_Saturn26

emagius, i truly dont know, did they? maybe they did with the previous MK games.

emagius
emagius

Has Midway turned a profit any year -- or even any quarter -- in the last decade?

shazaila
shazaila

I only like Midway mainly for Mortal Kombat.

Omega3210
Omega3210

I think 2D MK game will be great!! I miss Mortal Kombat 3 on Sega MegaDrive II :D

Platyphyllum
Platyphyllum

The Grim Adventures of Billy and Mandy is l337

Sw0rDMaN
Sw0rDMaN

MIdway is only a so-so compagny

faridmon
faridmon

forget Psi-Ops 2, where is The Suffering 3, thats why i don't buy any Midway games, they tend to forget the good stuff and realease bad stuff. No wonder the are losing money.

SavoyPrime
SavoyPrime

Hey Midway, can we finally get some details about the TNA Wrestling game?!

Rhubarb9
Rhubarb9

if a Wii version for armageddon comes out then midway doesnt consider wii a next gen console as they stated armageddon would be the last current gen and specifically for current gen game of MK universe :0

icym
icym

Thats a shame for Midway. Aside from the MK and PsiOps, they haven't had anything good come out in a long time. Psi had a great story, despite it having bad sales, I think if they stuck with content like PsiOps, they'll rebound. But they keep making the flash and dazzle games. Sorry, but the audience is looking for more substance now a days.

Mr_Saturn26
Mr_Saturn26

i think midway needs to go back to its roots, and figure out what made their games so good, so they dont have to make games based on movies or shows, and make some actulle good games.

Da1ShrpSh0trGrl
Da1ShrpSh0trGrl

A Wii version of MK Armageddon. Sweet! Hopefully many more games like this will be available for the Wii. Hopefully this will bring them back to bussiness, because I dont think Ant Bully or Billy and Mandy will set them back on bussiness.

KickinIt_ftw
KickinIt_ftw

...with the demise of Acclaim, Midway became my de facto "least favorite publisher". I can't really say I'm rooting for them.

Warlock89
Warlock89

for the person under me. they will get Ut2k7 right. and Unreal Champ2 wasn't that bad. both seem better than MK if you ask me

LorddG
LorddG

Seriously, other than MK, Midway can't get any games right... But note, all their games (except MK series) are developed by OUTSIDE developers (Spy Hunter, Rampage).... that explains why they can't get the last 2 Spy Hunter games to be good.... If I didn't purchase Spy Hunter 3, their losses would be $22,200,039.99. LOL... I'm glad I could help!

Staryoshi87
Staryoshi87

midway....u used to be cool....nba jam te ftw....but not much lately....good luck

CheddarLimbo
CheddarLimbo

Yikes. That seems like a pretty substantial loss. Midway should try to diversify their target audience more and get some new original IP if they're going to keep going.

CheddarLimbo
CheddarLimbo

raquor - The Gamecube's controller featured a large main button because Nintendo openly entertained the desire to reduce the complexity of gameplay. The A button is big because they were trying to simplify the gameplay model and get away from having up to 12 control mechanisms in a controller by replacing it with one button that was content sensitive.

kavadias1981
kavadias1981

[This message was deleted at the request of the original poster]

diablobasher
diablobasher

2trickedout: "because they can get by with first gen graphics" First gen huh? So gaming magicly started with the PS2 did it? So what, was the pre 64 bit era all just a massively enjoyable dream? I think not. This is why i hate the term "next gen" It spawns ignorant comments like this.

s0ild_snake
s0ild_snake

i lave you all i want make afrind about game i lave tekken too match but this game is not bad

BlackPhoenixBG
BlackPhoenixBG

that's what they deserve, for not bringing a MK game for PC for 9 years..

raquor
raquor

~~~"2TrickedOut with an awesome list of titles(happyfeet) lol its no wonder there doing so well. They will pick up sales from wii game sales because they can get by with first gen graphics and wii is mostly kids games anyway. They will Rise & Fall just like there new pc game. lol"~~~ ------------------------------------------------------------------------------------------ Red Steel Call of Duty 3 MK:Armageddon Sure it has "kiddy" games based on cartoons, movies, and whatnot but those same games come out on every other platform. More likely the Gamecube got the kiddy image because it was purple and the main button on the controller was about 4 times as big as any other button.

KarthikKane
KarthikKane

Fight Club was developed by Genuine Games, the makers who brought us 50 Cent Bulletproof which managed to sell 2 million copies even though it was crappy. I'd love to see a Psi-Ops sequel. Unfortunately the game bombed. I doubt we'd see one. Hopefully STranglehold will be able to put Midway on the map again. And for the love of God, hire proper script writers and voice actors.

KingofTrolls
KingofTrolls

You make money off making good games. You make cheese games you make cheese profit. Besides for MK Armageddon I havn't seen anything developed by Midway in along time thats been decent.

Gentle_Stephen
Gentle_Stephen

i remeber playing on fight club and it was made by mid way and that was dispointing.game play was poo and it was slow but thire inproved loads.

OPOLO
OPOLO

They will be OK

chikahiro94
chikahiro94

Perhaps a new Psi-Ops would be good for sales?

2TrickedOut
2TrickedOut

with an awesome list of titles(happyfeet) lol its no wonder there doing so well. They will pick up sales from wii game sales because they can get by with first gen graphics and wii is mostly kids games anyway. They will Rise & Fall just like there new pc game. lol

Fallout_red
Fallout_red

MK Wii, that would be a killer app for WIi. (Goes to play MKA on PS2)

Marsz85
Marsz85

You say 10 years, more like 5. The last good game Midway released was Mortal Kombat Trilogy. The rest is all trash, come on, Happy Feet!?!

metdevthegamer
metdevthegamer

Took the words right out of my mouth Tyrant-666.

Tyrant-666
Tyrant-666

The only good game there is MK: Armageddon, the others suck.

the-very-best
the-very-best

Happy Feet? Mortal Kombat? Ant Bully? Seriously Midway, are you stupid? I don't see this company being around in 10 years, especially with the extremely poor quality of games they are developing at the moment. You want profit? Rethink the games you are to develop? I don't wanna see anything like Ant Bully littering the shelves at my local game shop again.

tommyV23
tommyV23

Guess what? I don't care!

yinyang3
yinyang3

Wow, too bad I'm not suprised at all.

josephmadde2005
josephmadde2005

Yeah here's an idea for making a profit in gaming. MAKE GOOD GAMES. That is all.

TheHairlessWndr
TheHairlessWndr

Midway should have made Armageddon for 360, I definitely would have bought it then. And then I heard that it wasn't backwards compatible, they dug their own grave. And how do they expect to make money off the Ant Bully and Billy an Mandy, even my 9 year old brother said those games are stupid, and he only read the titles. And now their making Blitz: the league for 360 a big deal and that game has been out for xbox for like a year. Its not looking good for Midway.

Gogandontas07
Gogandontas07

you know what, all those titles are going to suck anyway (except armageddon, its great!), and the gamespot folks know this, so why dont they just say it?

tricache
tricache

they seem to be too interested in trying to make money of movie ripoff games...need to get that original stuff out there

OfficialBed
OfficialBed

well, with games like happy feet....do they really expect to do that well?