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 firm introduced the Korean rhythm‑action franchise DJMax to the North American market, and since that inaugural effort it has 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 the physical side each year," explains CEO Michael Yum to GamesIndustry.biz. He adds that the company often handles the entire physical rollout for multiple partners, noting, "When you sign one of those partners, you can end up with ten games a year from just that one client." 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 recalls. "So I started bringing games from Korea and China over to America and Europe." Among those imports, one title proved to be a game‑changer: Black Myth: Wukong. Yum admits that taking on the physical publishing of Black Myth was "one of our biggest risks," but the result far exceeded his expectations. "I had no idea it would become that massive.
When it blew up, it was an eye‑opening experience – I've never seen anything like it. That single title basically paid for everything else we do." Ironically, just as PM Studios is riding a wave of unprecedented physical‑sales success, Sony has announced that it will cease production of PlayStation discs in January 2028, effectively pulling the rug out from under the disc‑based market. "It's sad and devastating," says Yum.
"My first games were on PlayStation, and I'm a lifelong PlayStation player, so physical copies have always meant a lot to me. But the reality is that a growing share of the new generation buys digitally. My own kids, who are true digital natives, get confused when I hand them a disc and ask them to put it in." Despite the looming end of PlayStation discs, PM Studios is determined to keep physical publishing alive in whatever form it can.
"We're exploring new ways to get games out there. It may end up being a code in a box, but we want to highlight the collectibility of the IPs and treat fans right. So we’ll probably produce premium bundles, nice collector’s editions, and think up unique ways to support physical releases," he 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 released the children's game *Bluey's Quest For The Gold Pen*, and roughly 80 % of its sales came from physical copies. He also notes that established IPs continue to perform strongly in brick‑and‑mortar stores, and there is a healthy appetite for physical editions of indie games that have already proven successful digitally. "I did a mass‑retail version of *Lost in Cult* and it sold extremely well," Yum says, adding that a limited‑run physical version of *Animal Well* had already been released, yet fans still returned for the full retail edition.
"Collectors love having something tangible to hold." Another advantage of physical media is the ability to share a single copy among multiple players. "I have twins, so I don’t want to buy two digital copies. I buy one disc, they learn to share it and can even lend it to friends," Yum remarks.
Beyond practicalities, Yum believes the backlash against the end of discs stems from an emotional sense of loss. "People are upset because you’re taking away a choice," he says. "Even if most sales are digital, many gamers still value the option to own a physical product." With the clock ticking on PlayStation disc releases, PM Studios is adapting its strategy.
"That’s why you see us handling a lot more digital titles now," says Yum. The company remains a champion of physical media – it is already preparing a physical edition of AdHoc Studio’s hit *Dispatch* – while also taking on full publishing responsibilities 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 I could do to help," Yum explains.
He says the biggest hurdle was funding, and he pledged to invest, bring in his marketing team, and provide production support to get the game finished on schedule. His broader ambition is to "take bigger risks on bigger IPs." PM Studios isn’t alone in navigating the shift away from physical discs. Singapore‑based GCL Global Holdings, which built its business on physical distribution, is now betting on AA publishing through its subsidiary 4Divinity, a venture that recently made a splash at Gamescom. The success of Black Myth 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 projects 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 indie titles, but when you put a video out there, people tend to gravitate toward the flashier stuff. AA games naturally attract more attention," he says. Nevertheless, Yum insists he will not abandon indie developers.
"We remain a big champion for indies. We continue to support many of them, help them finish their games, and release them on platforms like Switch 2.
We were among the first to ship full games on Switch 2 cards," he notes. The plan is to leverage the revenue from larger hits to fund and experiment with new indie projects.
Yum is also mindful of the higher upfront costs associated with AA games, so PM Studios applies a risk‑mitigation framework. "We make sure there’s something solid behind the project – an existing IP, a sequel, a reputable developer, or strong wishlists – anything that reduces the financial gamble," he explains. He is particularly impressed by the surge of AA titles emerging from China, praising both the quality of the games and the speed of development teams.
"I’ve been working a lot with Chinese developers, and honestly it’s incredible. They are fast, hungry, and extremely talented.
They can produce amazing games at a pace and cost that outpaces the rest of the world. If others don’t keep up, they’ll dominate the market.
Tencent and NetEase already own a massive share of the industry – we’re already losing ground to them." While China is a hotbed of activity, PM Studios’ upcoming slate still features many Western developers. The company also remains committed to fostering a community around physical media. It recently launched the Panax platform, a hub for collectors of games and merchandise. "We’ve been developing it for years.
It went viral after we posted a trophy‑tracking feature. I’m excited for everyone to see the new tools and the benefits publishers will get by being on the platform," Yum says. Physical games may be on the decline, but for PM Studios and a handful of dedicated advocates, the fight to keep discs, cartridges, and collector’s boxes alive will continue until the very end.