Wed, Jun 13, 2012 | 04:59 BST
Farrell: THQ “starting to pull out” from rock-bottom trough
THQ CEO Brian Farrell can see the light at the end of the publisher’s ominously dark tunnel.
In an interview with VentureBeat, the executive said the worst seems to be over.
“I think we have not only hit that bottom, but we’re starting to pull out a little bit,” he said.
“Don’t take my word for it, but if you look at our Q4 financial results, we look at that as a template for our future.”
Farrell highlighted the digital revenue generated by saints Row: The Third as an example of a successful business model with THQ will strive to replicate – but also noted the publisher’s decision to double down on high quality games rather than licenses or quick knock offs.
“Every one of the games we’re showing have some kind of awards or nominations hanging from them. The focus is working,” he said.
“Now, we’re not declaring victory yet. We have a boatload of work to do. But getting Jason Rubin was a huge win. He is a smart, creative, but disciplined guy who has a vision to do even better on the core side. We also share a vision for where the industry is going and where the core business is going on a digital level. I’m personally re-energized. I think a lot of the company is too.”
Farrell said THQ has ‘completely repositioned’ itself over the last few years while getting out of kids’ games, and acknowledged that it should have moved faster.
“But now we’re out, totally focused on core, and I think you’re seeing the results here,” he added.
“When we hit good products, we bring a very successful company. And when we’ve not delivered good products we’ve been in a failure state.
“In a failure state I double down in terms of work ethic, dedication to the business. I feel personally responsible for where THQ is right now, I take full responsibility for that, but I’m also taking responsibility until relieved of command for making it work. I’ve done it before, I intend to do it again.”