PM Studios has been a mainstay in the world of physical game publishing for decades. Roughly twenty years ago, the Las Vegas‑based company introduced the Korean rhythm‑action franchise DJMax to the United States, and from that point on it built a thriving business model around pressing a diverse slate of titles onto 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 the firm often handles the entire physical rollout for a single partner, meaning that a single publishing agreement can translate into ten or more physical releases annually. 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." One of those imports turned out to be a game with an outsized impact: Black Myth: Wukong. Yum admits that the studio treated Black Myth as "one of our biggest risks" when it agreed to manage the disc version, yet the title exploded far beyond anything he imagined. "I didn’t anticipate it would become that huge.
When it took off, it was an eye‑opening experience – I’ve never seen anything like it," he says. The success was so massive that the revenue from that single title "covered everything else" in the company's portfolio.
Ironically, just as PM Studios is riding a wave of physical‑format triumphs, Sony has announced that it will cease production of PlayStation discs in January 2028. "It’s sad and devastating," Yum says, noting that his own gaming history began on PlayStation discs and that he still prefers to play physical copies.
He observes, however, that a growing segment of younger gamers now defaults to digital purchases. "My own kids, who are digital natives, get confused when I ask them to put a disc in the console." Despite the looming end of PlayStation media, PM Studios intends to keep supporting physical releases in whatever form is feasible.
"We’re looking for new ways to bring games out. It may end up being a code in a box, but we want to highlight the collectibility of the IPs and give fans something special," Yum explains. He envisions premium packaging, bundled merchandise, and other creative approaches to keep the tactile experience alive.
While digital sales dominate the global market, Yum points out that there remains a robust demand for physical copies among younger audiences. PM Studios handled the kids' title Bluey’s Quest for the Gold Pen, and about 80 % of its sales were on disc. He also notes that major franchises continue to perform strongly in brick‑and‑mortar stores, and that indie games with solid digital track records can still find a lucrative niche in physical form.
"I did a mass‑retail version of Lost in Cult and it sold extremely well," he says, recalling that a limited‑run physical edition of Animal Well had already been released through Limited Run. "Fans come back for the physical version; collectors love it." There is also a practical economic advantage to a disc that can be shared. "I have twins, so I don’t want to buy two digital copies," Yum explains.
"One disc can be passed around, borrowed by friends, and used by both of my children." Beyond practicality, Yum believes the backlash against the disc phase‑out 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 now digital, the option to own a tangible product still matters to many gamers. With the PlayStation disc window closing, PM Studios is adjusting its strategy.
"That’s why you see us doing a lot more digital titles now," Yum notes. The company remains committed to physical releases, backing the upcoming disc version of AdHoc Studio’s hit Dispatch, while also taking on full publishing responsibilities for titles such as My Time at Evershine. PM Studios 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 I could do to help," says Yum. He emphasizes that funding was the biggest hurdle, and he pledged investment, marketing support, and production resources to keep the project on schedule.
The broader goal, according to Yum, is to "take bigger risks on bigger IPs." PM Studios isn’t the only publisher scrambling to adapt. Singapore‑based GCL Global Holdings, which built its business around physical distribution, is now pivoting toward AA publishing through its subsidiary 4Divinity, a move that garnered attention at Gamescom. The success of Black Myth has convinced Yum that AA games hold significant promise.
He observes that the sheer volume of titles in digital storefronts makes it hard for any single game to stand out, but AA projects often attract more attention because of their higher production values and striking visuals. "I want every game to succeed, especially indies, but when you put a video out there, people tend to gravitate toward the flashier stuff. That’s why AA games can capture eyes more easily," he explains.
Nevertheless, Yum insists that PM Studios will not abandon indie developers. "We’re still a big champion for indies," he says.
The studio continues to assist indie creators in polishing their games and launching them on platforms like Switch 2, even becoming one of the first publishers to release full‑card Switch 2 titles. The plan is to leverage the revenue from larger hits to fund and promote new indie experiments. Recognizing the higher upfront costs of AA projects, PM Studios is adopting a risk‑mitigation approach. "We look for an attached IP, a sequel, a credible developer, or strong wishlists to reduce risk," Yum states.
This vetting process helps ensure that the larger investments have a solid foundation. Yum is particularly impressed by the rapid development cycles emerging from Chinese studios. "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 breakneck pace," he remarks.
He warns that this speed and cost advantage could reshape the global industry. "If the rest of the world doesn’t keep up, Chinese firms will dominate.
Tencent and NetEase already own a huge portion of the market, and we’re already losing ground to them." Even so, PM Studios’ upcoming slate is still heavily weighted toward Western developers. The company remains a staunch advocate for physical media, having recently launched the community platform Panax to unite collectors of games and merchandise.
"We’ve been developing it for years," Yum says. "It went viral after we posted a trophy‑tracking feature, and I can’t wait for everyone to see the new tools and benefits publishers will gain by joining the platform." Physical games may be on the decline, but for PM Studios and like‑minded publishers, the fight to keep discs, cartridges, and collector‑grade packages alive is far from over. They will continue to drum up enthusiasm for tangible releases until the very end, adapting formats, bundling premium content, and fostering communities that cherish the tactile joy of holding a game in their hands.