PM Studios has been a stalwart in the world of physical game publishing for decades. Roughly twenty years ago, the Las Vegas‑based firm introduced the Korean rhythm‑action franchise DJMax to North American audiences, and since that inaugural effort it has built a robust operation that turns a wide variety of titles into tangible discs and cartridges.
"We typically back up a hundred or more games on the physical side each year," explains CEO Michael Yum to GamesIndustry.biz. He adds that PM Studios handles the physical distribution for a host of other publishers, noting that a single partner can generate ten or more titles annually. Over the years the company has acted as a bridge for developers seeking to reach new territories.
"I had many friends in Korea who couldn’t get their games out," Yum recalls. "I started bringing games from Korea and China over to the US and Europe." One of those imported titles turned out to be a game‑changing phenomenon: Black Myth: Wukong. Yum admits that the project was initially viewed as "one of our biggest risks" when PM Studios agreed to manage its physical rollout, but the results far exceeded his expectations.
"I never imagined it would become that huge. When it blew up, it was an eye‑opening experience – I've never seen anything like it," he says, adding that the success of that single title essentially "covered everything else" in the company’s portfolio. Ironically, just as PM Studios was riding the wave of unprecedented physical‑sales success, Sony announced that it will cease production of PlayStation discs in January 2028. "It’s sad and devastating," Yum says, his voice tinged with nostalgia.
"My first games were on PlayStation, and I’m a lifelong PlayStation player, so I grew up with physical copies. Yet the new generation is gravitating toward digital.
My own kids, who are digital natives, get confused when I hand them a disc." Despite the looming discontinuation, PM Studios is determined to keep physical publishing alive in whatever form it can. "We’re exploring new ways to get games out there. Eventually it may just be a code in a box, but we want to highlight the collectibility of the IPs and provide fan service," he explains. "We’ll likely produce premium bundles, special editions, and other unique offerings that give collectors something tangible to hold onto." While digital sales now dominate the global market, Yum points out that there remains a strong demand for physical copies among younger audiences.
For example, the studio’s release of the children’s title Bluey’s Quest For The Gold Pen sold about 80 % of its units in physical form. He also notes that major intellectual properties continue to perform well in brick‑and‑mortar stores, and that indie games with solid digital track records can still thrive when given a physical treatment. "I did the mass‑retail version of Lost in Cult and it sold extremely well," he says, referencing the limited‑edition physical release of Animal Well that had already been offered through Limited Run.
"Fans come back for the physical edition, collectors love it." There is also a practical, economic advantage to a disc that can be shared among family members. "I have twins, so I don’t want to buy two digital copies. I buy one disc, they learn to share it and can lend it to friends," Yum explains, underscoring how a single physical copy can serve multiple users.
Beyond the practicalities, Yum believes the backlash against the end of discs stems from a psychological sense of loss. "People are upset because you’re taking away a choice," he says. Even if most sales are now digital, many gamers still value the tactile experience and the sense of ownership that a physical product provides.
With the deadline for PlayStation discs looming, PM Studios is adapting its strategy. "That’s why you see us handling more digital titles now," Yum notes. Nevertheless, the company continues to champion physical releases – it is backing a forthcoming disc version of AdHoc Studio’s hit Dispatch and taking on full publishing duties for projects such as My Time at Evershine. The studio is also collaborating with Telltale on the long‑delayed sequel The Wolf Among Us 2.
"I met the CEO, learned about the challenges they faced, and offered what we could do to help," Yum says. He highlights funding as the biggest hurdle, explaining that PM Studios can provide investment, marketing support, and production expertise to bring the game to market on schedule.
The ultimate goal, he adds, is to "take bigger risks on bigger IPs." PM Studios is not alone in navigating the shift away from physical media. Singapore‑based GCL Global Holdings, which built its business around physical distribution, is now betting on AA publishing through its subsidiary 4Divinity, a venture that recently turned heads at Gamescom. The triumph of Black Myth: Wukong has convinced Yum that AA titles hold considerable promise.
He observes that the sheer volume of games in digital storefronts makes it difficult for smaller releases to stand out, but that consumers are increasingly drawn to AA games because of their high‑quality graphics and production values. "I want every game to succeed, especially indies, but flashy AA titles tend to attract more attention," he says.
Nonetheless, PM Studios remains a staunch advocate for indie developers. "We continue to support many indies, helping them finish their games and launch on Switch 2.
We were among the first to ship Switch 2 titles on cartridge," Yum explains. The hope is to leverage the revenue from blockbuster AA titles to fund and promote promising indie projects. Recognizing the higher upfront costs associated with AA development, the studio is taking a measured approach to risk. "We make sure there’s something to back the investment – an established IP, a sequel, a credible developer, or strong wishlists – anything that reduces the gamble," he says.
Yum is especially impressed by the rapid pace and talent of Chinese developers. "I’ve been working a lot with Chinese studios, and they are incredibly fast, hungry, and talented. They can produce amazing games at a speed and cost that outpaces the rest of the world," he remarks.
He warns that if Western studios don’t keep up, Chinese giants like Tencent and NetEase could dominate the industry. Even so, PM Studios’ pipeline remains heavily weighted toward Western creators, and the company’s commitment to physical media persists. It recently launched the Panax community platform, designed to bring together collectors of physical games and merchandise.
"We’ve been developing it for years. 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 gain by joining," Yum enthuses.
Physical games may be on a slow decline, but as long as there are collectors, nostalgic gamers, and developers who believe in the value of a tangible product, there will be champions willing to “bang the drum” for discs until the very end.