"It's heartbreaking and catastrophic" – Physical publisher of Black Myth: Wukong laments the demise of PlayStation discs

PM Studios has been a fixture in the physical‑game publishing arena for decades. Roughly twenty years ago, the Las Vegas‑based company introduced the Korean rhythm‑action series DJMax to the United States, and since that early venture it has built a solid business model around pressing a wide variety of titles onto discs, cartridges and other tangible media. "I would estimate we handle a hundred or more games on the physical side each year," explains CEO Michael Yum to GamesIndustry.biz. He adds that PM Studios often acts as the physical‑distribution arm for numerous other publishers, noting that a single partner can generate ten or more titles annually.

Over the years the firm has become a bridge for developers seeking to reach new territories. "I had a lot of friends in Korea who couldn't get their games out," Yum recalls. "I started importing games from Korea and China into the U.S. and Europe." One of those imported titles turned out to be a game‑changing phenomenon: Black Myth: Wukong.

Yum admits that when PM Studios agreed to handle the physical launch of Black Myth, he viewed it as "one of our biggest risks." The result, however, far exceeded his expectations. "I never imagined it would blow up the way it did. When it took off, it was a completely new experience for me.

I've never seen anything like that before," he says, adding that the title was so massive it "covered everything else" in the company's catalog. Ironically, just as PM Studios is riding a wave of unprecedented success in its physical‑distribution segment, Sony has announced that it will cease production of PlayStation discs in January 2028. "It's sad and devastating," Yum says.

"My first games were on PlayStation, and I'm primarily a PlayStation player, so obviously I play a lot of physical games on PlayStation. But truthfully, I see a lot of the new generation of gamers buying digital copies." He notes that his own children, who belong to the digital‑native generation, often get confused about inserting a disc. Despite the looming end of PlayStation discs, PM Studios intends to keep supporting physical releases wherever possible.

"We're looking for new ways to bring games out. It may eventually become a code in a box, but we want to stress the collectibility of IPs and fan service. We'll probably produce very nice premium packages, bundle them creatively, and find unique ways to keep physical editions alive," Yum explains. Even though digital sales now dominate the global market, Yum points out that there remains a robust demand for physical copies among younger audiences.

PM Studios published the children's title Bluey's Quest For The Gold Pen, and about 80 % of its sales were physical. He also observes that major IPs continue to perform strongly in brick‑and‑mortar stores, and that successful indie games often receive a second life as collector’s editions. "I did the mass retail version with Lost in Cult, and it did extremely well," he says, recalling that a limited‑run physical edition of Animal Well had already sold out.

"Fans come back to support the physical version. Collectors love it." There is also a practical economic advantage to physical media: a single disc can be shared among multiple players, unlike a digital license tied to one account.

"I have twins, so I don't want to buy two digital copies," Yum notes. "I buy one disc, they learn to share it and can lend it to friends." Beyond practicality, Yum believes the backlash against the end of discs stems from an emotional attachment to choice.

"People are upset because you're taking away a choice," he says. "Even if most sales are digital, the option to own something tangible matters to a lot of gamers." With the PlayStation disc deadline approaching, PM Studios is diversifying. "That's why you see us handling a lot more digital titles now," Yum says.

The company remains a champion of physical releases—it's backing the upcoming physical edition of AdHoc Studio's hit Dispatch—but it is also expanding its full‑service publishing portfolio with titles like My Time at Evershine. The studio is also collaborating with Telltale on the long‑awaited sequel The Wolf Among Us 2.

"I met the CEO, learned about the challenges they faced, and offered what I could do to help," Yum recounts. Funding, he says, was the biggest hurdle. "I told them I could invest, bring in my marketing team and production resources to get the game finished on schedule." His long‑term goal is to "take bigger risks on bigger IPs." PM Studios is not alone in adapting to a disc‑free future. Singapore‑based GCL Global Holdings, which built its business on physical distribution, is now pivoting toward AA publishing through its subsidiary 4Divinity, a move that generated buzz at Gamescom.

The success of Black Myth has convinced Yum that AA games hold significant promise. He observes that the sheer volume of titles in digital storefronts makes it hard for any single game to stand out, but that consumers are increasingly drawn to AA projects because of their high‑quality graphics and production values. "I want every game to succeed, especially indies, but when you put a video out there, people tend to look at the flashier stuff.

So it just happens to attract people more easily," he explains. Nevertheless, Yum stresses that PM Studios will not abandon indie developers. "We're still a big champion for indies.

We're helping them finish their games and release them on Switch 2. We were among the first to launch Switch 2 titles on cartridge," he says. The plan is to leverage profits from larger hits to fund experimental indie projects.

He also acknowledges the higher financial risk associated with AA titles, which often require larger upfront investments. To mitigate this, PM Studios applies a risk‑reduction checklist: the game should have an established IP, be a sequel, involve a reputable developer, or already show strong wishlist numbers.

Yum has been particularly impressed by the surge of AA games emerging from China, noting both the quality of the products and the speed of development teams. "I've been working a lot with Chinese developers. It's incredible—they are fast, hungry, talented, and can produce amazing games at a rapid pace," he says.

He warns that if Western studios do not keep up, Chinese giants like Tencent and NetEase could dominate the global market. "They're setting the bar now, making games faster and cheaper than anyone else. If we don't keep up, they'll take over." Even so, PM Studios' pipeline remains heavily weighted toward Western developers, and the company continues to invest in physical‑media initiatives. It recently launched the community platform Panax, designed to bring together collectors of physical games and merchandise.

"We've been developing it for years," Yum says. "It went viral after we posted a trophy‑tracking feature. I can't wait for everyone to see the new tools and benefits publishers will get from being on this platform." Physical games may be on the decline, but for firms like PM Studios, the commitment to tangible media is far from over. They intend to keep drumming the beat for discs, cartridges and collector's boxes until the very end, adapting their business model while honoring the nostalgia and collectibility that many gamers still cherish.