Asiasoft announces lower earnings in fiscal year 2013 in Thailand
Publisher’s plans to improve situation include publishing e-sports titles like Strife and acquiring Philippines company Level Up!By Jonathan Toyad 03 Mar, 2014
The news on Asiasoft’s fiscal year 2013 was announced, and the company may need to start readjusting its priorities in the Southeast Asia region.
The report said that the Thai-based game publishing conglomeration’s group revenue for 2013 was 1,714.77 million Baht (US$52.7 million), which was 15 per cent lower than 2012’s revenue which was 2,016.32 million Baht (US$70 million). Net profit for the year was 51.94 million Baht (US$1.6 million), which was an 82 per cent drop from 2012’s results.
All of this was due to the lower online income that resulted from poor launch performances for new titles. CFO Kenny Goh said that it postponed 19 games out of its 29 planned game launches due to the changing game market in the region. Most likely one of the titles is the English version of Phantasy Star Online 2.
Thankfully, the games publisher has big plans to turn things around. Asiasoft plans to increase market share in the Southeast Asia territory using its acquisition of Philippines game operator Level Up!. Once the acquisition is complete, Asiasoft will get over 50 per cent market share in the country.
The company will also be investing in e-sports titles, which have quite a high demand in Southeast Asia; hence, it plans to publish Strife in the region. For context, Strife is developed by S2 Games, the creators of the big-in-Thailand multiplayer online battle arena title Heroes of Newerth.
Asiasoft plans to increase its revenue by more than 25 per cent before the 2014 fiscal year ends.