PM Studios has been a veteran in the realm of physical game publishing for decades. Roughly twenty years ago, the Las Vegas‑based company introduced the Korean rhythm‑action franchise DJMax to the American market, and since that inaugural effort it has built a robust operation that turns a wide variety of titles into tangible discs and cartridges.
"We probably back up a hundred or more games on the physical side each year," explains CEO Michael Yum to GamesIndustry.biz. He adds that the firm handles the physical side for many other publishers, noting that a single partner can generate "around ten games a year just from them alone." Over the years, PM Studios 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 says.
"So I was importing games from Korea and China into the U.S. and Europe." One of those imports turned out to be a game that would eclipse all expectations: Black Myth: Wukong. Yum admits that when PM Studios agreed to publish the physical version of Black Myth, he considered it "one of our biggest risks," but the title exploded far beyond his most optimistic forecasts. "I didn’t realize it would become that massive.
When it took off, it was a completely new experience – I’ve never seen anything like it. It was so huge that it essentially "covered everything else" in our catalogue. Ironically, just as the company is riding a wave of unprecedented physical‑sales success, Sony has announced that it will cease PlayStation disc production in January 2028, effectively pulling the rug out from under publishers like PM Studios.
"It’s sad and devastating," Yum says, his tone tinged with personal nostalgia. "My first games were on PlayStation, and I’m primarily a PlayStation player, so I’ve always bought a lot of physical copies. But the reality is that many of the newer generation are buying digital. My own kids – they’re digital natives – get confused when I ask them to put a disc in the console." Despite the looming end of disc manufacturing, PM Studios plans to keep championing physical releases in whatever form they can.
"We’re looking for new ways to get games out there. It may end up being a code in a box, but we want to stress the collectibility of the IP and fan service. We’ll probably produce very nice premium bundles and find unique ways to support them," he explains.
While digital distribution now dominates global sales, Yum points out that a strong physical market still exists, especially for titles aimed at younger audiences. PM Studios handled the kids’ 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 well in brick‑and‑mortar stores, and there is a healthy demand for physical editions of indie games that have already proven themselves digitally.
"I did the mass retail version of Lost in Cult and it sold extremely well," he says, recalling that a limited‑edition physical release of Animal Well had already been offered through Limited Run. "Fans keep coming back for the physical version.
Collectors love it." There is an economic advantage to a disc as well: a single copy 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. I buy one disc, they learn to share it and lend it to friends," Yum remarks.
Beyond practicalities, Yum believes the backlash against the end of discs stems from a sense of loss. "People are upset because you’re taking away a choice," he says.
Even if the majority of sales are digital, the physical format carries emotional and cultural weight for 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 says. The company still backs physical releases – it is behind the upcoming physical edition of AdHoc Studio’s hit Dispatch – but it is also taking on full publishing responsibilities for games like 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 I could do to help," Yum recounts. The biggest contribution, he says, was funding: "I told them I could invest, bring in my marketing and production teams, and help finish the game on schedule." Looking ahead, Yum says the success of Black Myth has convinced him that AA‑level games hold great promise. The sheer volume of titles in digital storefronts makes it hard for any single game to stand out, but AA projects often attract attention because of their higher production values and polished graphics.
"I want every game to succeed, especially indie titles, but when you put a video out there, people gravitate toward the flashier stuff. AA games naturally draw more eyes," he explains. Nevertheless, PM Studios will not abandon indie developers. "We remain a big champion for indies.
We’re still supporting many of them, helping them finish and launch on Switch 2. We were among the first to release Switch 2 games on cartridge," Yum says.
The plan is to leverage the revenue from bigger hits to fund and experiment with new indie projects. Yum is also mindful of the higher upfront costs associated with AA games. To mitigate risk, PM Studios looks for projects that have a recognizable IP, a sequel pedigree, a credible development team, or strong wishlist numbers before committing resources. He is especially impressed by the surge of AA titles emerging from China, citing both the quality of the games and the speed of the development teams.
"I’ve been working a lot with Chinese developers and it’s incredible. They are fast, hungry, and extremely talented.
They can produce amazing games at a rapid pace," he says. "This will reshape the industry landscape. Chinese studios are setting new standards, delivering games faster and cheaper than anyone else. If the rest of the world doesn’t keep up, they will dominate.
Tencent and NetEase already own a huge portion of the market, so we’re already feeling that pressure," Yum warns. Even though China is a focus, most of PM Studios’ upcoming slate still comes from Western developers. The company also remains committed to physical media, having recently launched the community platform Panax to unite collectors of physical games and merchandise. "We’ve been developing Panax for years.
It recently went viral because of a trophy‑tracking feature we posted. I can’t wait for everyone to see the new features and the benefits publishers will gain by being on the platform," Yum enthuses. Physical games may be on the decline, but for PM Studios and like‑minded advocates, the fight to keep discs, cartridges, and collector’s editions alive will continue until the very end.