PM Studios has been a veteran in the world of physical game publishing for roughly two decades. Back when the company first started out in Las Vegas, it introduced the Korean rhythm‑action franchise DJMax to the American market, and from that point on it built a thriving operation that revolves around pressing a diverse array of titles onto discs, cartridges and other tangible media.
"I’d estimate we handle a hundred or more games on the physical side each year," explains CEO Michael Yum to GamesIndustry.biz. He adds that a large portion of that output comes from long‑term relationships with other publishers: "When you sign one of those partners, you can easily end up with ten titles a year from just that one client." Over the years, PM Studios has acted as a bridge for developers seeking to reach new regions. "I had a lot of friends in Korea who couldn’t get their games out here," Yum recalls. "So I started importing titles from Korea and China into North America and Europe." One of those imports turned out to be a game that would exceed all expectations – Black Myth: Wukong.
Yum admits that when PM Studios agreed to handle the physical launch of Black Myth, it felt like "one of our biggest risks." The reality, however, blew past his wildest forecasts. "I didn’t anticipate it would become that massive. When it exploded, it was a surreal experience – I’ve never witnessed anything like it," he says, noting that the success of that single title was so overwhelming that it "essentially paid for everything else we do." Ironically, the company’s newfound triumph in physical publishing comes at a time when the very foundation of that business is being shaken. Sony has announced that it will cease production of PlayStation discs in January 2028, effectively pulling the rug out from under publishers who rely on the format.
"It’s sad and devastating," Yum says, his voice tinged with personal nostalgia. "My first games were on PlayStation, and I’m a lifelong PlayStation fan, so I’ve always bought a lot of physical copies.
But the truth is, the newer generation is leaning heavily toward digital. My own kids – they’re true digital natives – get confused when you ask them to insert a disc." Despite the looming shift, PM Studios is determined to keep physical publishing alive in whatever form it can. "We’re exploring new ways to get games into people’s hands. It may end up being a code in a box, but we want to highlight the collectibility of the IPs and provide fan service.
That means premium packaging, bundles, and creative approaches to physical releases," he explains. While digital sales dominate the global market, Yum points out that there remains a robust demand for physical copies among younger audiences. The studio’s release of the children’s title Bluey’s Quest For The Gold Pen sold about eighty percent of its units in physical form.
Likewise, established franchises continue to perform well in brick‑and‑mortar stores, and even indie games that have proven themselves digitally can find a second life on shelf space. "I did a mass‑retail version of Lost in Cult and it sold extremely well," he notes, referencing the limited‑edition physical run of Animal Well that had already been offered through Limited Run. "Fans and collectors keep coming back for the tangible version." There is also a practical economic advantage to physical media: a single disc can be shared among multiple players, something that appeals to families. "I have twins, so I don’t want to buy two digital copies.
I buy one disc, they share it, and they can lend it to friends," Yum says. Beyond practicality, the emotional reaction to the end of discs stems from a sense of loss of choice. "People are upset because you’re taking away an option," he observes. Even if the majority of sales are now digital, the ability to own a physical artifact still matters to many gamers.
With the PlayStation disc era winding down, PM Studios is adapting its strategy. "That’s why you see us handling a lot more digital titles now," Yum states. The company still champions physical releases – it is backing the upcoming disc version of AdHoc Studio’s hit Dispatch – but it is also expanding its role to full‑service publishing for games 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 we could do to help," Yum explains. Funding, marketing, and production support are now part of the package he is providing, with the goal of taking "bigger risks on bigger IPs." PM Studios is not alone in navigating the transition away from physical media. Singapore‑based GCL Global Holdings, which built its business around physical distribution, is now betting on AA‑level publishing through its subsidiary 4Divinity, a move that generated buzz at Gamescom.
The success of Black Myth has convinced Yum that AA games hold great promise. He points out that the sheer volume of titles in digital storefronts makes visibility a challenge, but AA games tend to capture more attention because of their higher production values and striking graphics.
"I want every game to succeed, especially indie titles, but when you put a video out there, people gravitate toward the flashier stuff. That naturally draws more eyes to AA projects." Nonetheless, PM Studios remains a staunch advocate for indie developers.
"We continue to support a lot of indies, helping them finish their games and launch on Switch 2. We were among the first to release full games on Switch 2 cards," Yum says. The plan is to leverage the revenue from bigger hits to fund and promote new indie experiments. Yum is also mindful of the higher upfront costs associated with AA projects.
To mitigate risk, the studio looks for titles that have an existing IP, a sequel pedigree, a reputable developer, or strong wishlist numbers before committing resources. A particular area of excitement for Yum is the surge of AA titles emerging from China. He praises Chinese development teams for their speed, hunger, and talent, noting that they can produce high‑quality games at a pace and price that outstrips many competitors. "If the rest of the world doesn’t keep up, Chinese studios will dominate.
Tencent and NetEase already own a massive share of the industry, and we’re already losing ground to them," he warns. Even so, the majority of PM Studios’ upcoming slate still comes from Western creators, and the company continues to double down on physical‑centric initiatives. It recently launched Panax, a community platform designed to unite 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 being on the platform," Yum enthuses. Physical games may be on the decline, but for companies like PM Studios, the fight to keep discs, cartridges and collector’s boxes alive is far from over; they intend to beat the drum for tangible media right up to the very end.