Tuesday, July 29, 2014

GW Financials Freak Out

You've probably heard that Games Workshop released their annual financial report today. When I got up, Twitter looked like this:

AHHHHHHHHHHH!!!!!!

The panic, the vitriol, the calls to play other games- it continues to amaze me.

But the truth is, almost none of us should care. Do you regularly read the financials for other companies whose products your enjoy? How'd Coke do last quarter? How about GM? Proctor & Gamble? Unless you're an investor or a financial nerd (like myself) you probably have no clue about the financial health of the companies whose products you use every day.

Why is Games Workshop any different? Can you still go buy your Space Wolves, your Chaos Daemons? Of course you can. The systems are being strongly supported. They're putting out new products at an almost blistering pace. Nearly every single week a new product (or two) is being released.

Love them or hate them, Games Workshop is the cornerstone of our hobby. They're not going to disappear tomorrow. You might disagree with some of their decisions (I certainly do), but they're still making a profit, investing, and putting out great miniatures. They're not danger of going under.

So stop freaking out and go enjoy your Space Marines.

9 comments:

  1. I like you, you're sane.

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  2. I think it has a lot to do with the fact they are publicly traded. They were until recently the 800 Pound (a share) Gorilla. That, and everybody loves to hate them.

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  3. Now that's just silly because ALL of the companies I mentioned are publicly traded. Companies that aren't generally do not release financials. And they're still trading at nearly £600 per share.

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  4. Yes, the others are public. GW is however the only dedicated gaming company that is public. (Wizards of the Coast doesn't quite count as they are owned by Hasbro). That alone makes them a target for gamers, either fans or non-fans alike. If Privateer Press or Corvus Belli were to go public, I'm sure they wouldn't receive quite the attention GW does because they aren't quite as reviled as GW is at the moment... But then, GW has done a lot to make it easy for their detractors to nitpick lately...

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  5. Unfortunately, there are a few folks out there who've become disaffected with GW and make it their mission in life to denigrate GW, and use any scrap to confirm (in their mind) that GW is in its last days (thus confirming their choice to stop playing GW games). I could name a few of them but I'd rather not give them any PR.

    Other gaming companies make bone-headed decisions, have bad years, etc. But GW, being publicly traded, must by law, disclose their financials thus giving grist to the harbingers of doom.

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  6. I'm a little late to the convo, but GW doesn't trade at £600/share, it's 600 GBp (pence). If they traded at hundreds of pounds/share, that's Apple-Google level (and while they may be the 800-ton gorilla of the hobby world, they're not THAT big)

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  7. Ahahaha, hilarious mistake on my part. But still, the point is that their stock remains steady despite the release of the report (as opposed to the huge drop after the last report).

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  8. Oh, very true. I tend to just watch/read these things for giggles because I figure the haters and fanbois of the company will lose their frickin' minds, and thus result in the majority of us being amused for a while.

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