PM Studios has been a veteran in the world of physical game publishing for roughly two decades. Back in its formative years, the Las Vegas‑based company introduced the Korean rhythm‑action series DJMax to the American market, and from that point onward it built a solid business model around pressing a diverse array of titles onto discs and cartridges. "We probably back up a hundred or more games on a physical format each year," explains CEO Michael Yum to GamesIndustry.biz.
He adds that PM Studios handles the physical side for many other publishers, noting that a single partner can generate as many as ten titles annually. Over the years, the studio has acted as 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. "So I started bringing games from Korea and China over to the U.S.
and Europe." One of those imported titles turned out to be a game‑changing phenomenon: Black Myth: Wukong. Yum admits that taking on the physical publishing of Black Myth was "one of our biggest risks," yet the result far exceeded his expectations.
"I didn’t anticipate it would become that massive. When it blew up, it was a wild ride – I’ve never seen anything like it.
It essentially paid for everything else we do," he says, emphasizing how the title’s success eclipsed the rest of the catalogue. Ironically, just as PM Studios is riding the wave of that success, Sony has announced that it will cease producing PlayStation discs in January 2028.
"It’s sad and devastating," Yum says. "My first games were on PlayStation, and I’m a lifelong PlayStation fan, so I grew up with physical copies. Yet most of the new generation is buying digital. My own kids, who are digital natives, get confused when I hand them a disc." Despite the looming end of disc manufacturing, PM Studios intends to keep supporting physical releases in any way possible.
"We’ll look for new ways to get games out. Eventually it might just be a code in a box, but we want to highlight the collectibility of the IPs and treat fans well. We’ll probably produce premium bundles, special editions, and other creative formats to keep the physical experience alive," Yum explains. Even though digital sales dominate globally, Yum points out that there remains a robust physical market for titles aimed at younger audiences.
PM Studios published the children’s game Bluey’s Quest for the Gold Pen, and about 80 % of its sales were physical copies. He also notes that major IPs continue to perform strongly in retail, and that indie games with solid digital track records can also thrive in physical form. "I did the mass‑retail version of Lost in Cult and it sold extremely well," he says, recalling how a limited‑run physical edition of Animal Well already existed, yet fans still purchased the new retail version.
Collectors, he adds, are eager to own tangible copies. There’s also a practical economic benefit to physical media: a single disc can be shared among multiple players. "I have twins, so I don’t want to buy two digital copies. One disc lets them share and even lend it to friends," Yum says, illustrating how physical copies can reduce costs for families.
Beyond practicality, Yum believes the backlash against disc elimination stems from a sense of loss. "People are upset because you’re taking away a choice," he observes.
Even if most sales are digital, the option to own a physical artifact still matters to many gamers. With the PlayStation disc deadline approaching, PM Studios is adjusting its strategy. "That’s why you’ll see us handling a lot more digital titles now," Yum notes. The company remains committed to physical releases – it is backing a forthcoming disc version of AdHoc Studio’s hit Dispatch – while also taking on full publishing duties for games such as My Time at Evershine.
PM Studios 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 we could do to help," says Yum. He highlights funding as the biggest hurdle, stating that PM Studios can provide investment, marketing, and production support to bring the game to market on schedule. Their broader ambition is to "take bigger risks on bigger IPs." Other publishers are navigating the same shift.
Singapore‑based GCL Global Holdings, originally built around physical distribution, is now betting on AA publishing through its subsidiary 4Divinity, which recently made a splash at Gamescom. Yum says the triumph of Black Myth has reinforced his belief in the potential of AA games. He notes that the sheer volume of titles on digital storefronts makes discovery difficult, but AA games often capture more attention because of their higher‑quality graphics. "I want every game to succeed, especially indies, but flashy AA titles tend to draw eyes more easily," he explains.
Nevertheless, PM Studios will not abandon indie developers. "We’re still a big champion for indies, helping them finish and release on platforms like Switch 2. We were among the first to launch full games on Switch 2 cards," Yum says. The plan is to leverage the revenue from larger successes to fund and promote promising indie projects.
Yum is mindful of the higher upfront costs associated with AA games, so the studio mitigates risk by selecting projects with recognizable IPs, sequels, reputable developers, or strong wishlist data. "Anything we can do to lower the gamble is worth it," he adds. He is especially impressed by the rapid development cycles emerging from Chinese studios.
"Chinese developers are incredibly fast, hungry, and talented. They can produce amazing games at a fraction of the time and cost of other regions," Yum says. He warns that if the rest of the world doesn’t keep pace, Chinese giants like Tencent and NetEase could dominate the industry.
Even so, PM Studios’ upcoming slate is largely sourced from Western developers, and the company continues to champion physical media. It recently launched Panax, a community platform designed to unite collectors of physical games and merchandise. "We’ve been building it for years. It went viral after we posted a trophy‑tracking feature.
I can’t wait for publishers to see the new tools and benefits it offers," Yum enthuses. Physical games may be on the decline, but there are still passionate advocates who will keep the format alive as long as possible.