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 North American market, and ever since it has built a solid business model around pressing a diverse array of titles onto discs and cartridges.
"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 the firm often provides a full suite of publishing services for other developers.
"When you sign one of those partners, you can end up with ten titles a year from just that one client." Over the years, PM Studios has acted as a bridge for many creators seeking to launch their games in new territories. "I had a lot of friends in Korea who couldn’t get their games out," Yum recalls. "So I started importing titles from Korea and China into the US and Europe." One of those imported projects turned out to be a game that would reshape the company’s fortunes – Black Myth: Wukong.
Yum admits that at the outset he saw Black Myth as "one of our biggest risks" when PM Studios agreed to manage its physical distribution. The reality, however, far exceeded his most optimistic forecasts. "I had no idea it would become that massive.
When it blew up, it was an eye‑opening experience – I’ve never witnessed anything like it. It was so huge that it essentially "covered everything else" in our catalogue." The triumph of that title arrives at a bittersweet moment. Sony has recently announced that it will cease manufacturing PlayStation discs in January 2028, effectively pulling the rug out from under the physical‑media segment. "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 been a big part of my life. But the truth is, a growing number of gamers are buying digital editions.
My own kids – who are true digital natives – get confused when I ask them to insert a disc." Despite the looming end of PlayStation disc production, PM Studios intends to keep supporting physical releases as best it can. "We’re exploring new ways to bring games to market.
Eventually we may have to shift to a ‘code‑in‑a‑box’ model, but we want to highlight the collectibility of IPs and fan service. That means premium packaging, bundles, and other unique approaches that give collectors something tangible to hold onto." While digital sales dominate globally, Yum points out that a robust 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 roughly 80 % of its revenue came from physical copies.
He also notes that major franchises continue to perform strongly on store shelves, and that indie games with proven digital success can thrive in a physical format. "I did the mass‑retail version of *Lost in Cult* and it sold extremely well," he says, recalling that a limited‑edition physical edition of *Animal Well* had already been released through Limited Run. "Fans return for the physical version; collectors love to own a piece of the game." There is also an economic advantage to a disc that can be shared among family members.
"I have twins, so I don’t want to purchase two digital copies," Yum explains. "Instead I buy one disc, they learn to share it, and they can even lend it to friends." Beyond practicality, Yum believes the strong emotional reaction to the end of discs stems from a sense of loss. "People are upset because you’re taking away a choice," he says.
Even if most sales are digital, the tactile experience of owning a physical object still matters to many gamers. With the PlayStation disc window closing, PM Studios is adapting its strategy. "That’s why you’ll see us handling a lot more digital titles now," Yum states. The company remains a champion of physical releases – it is already preparing a disc version of AdHoc Studio’s hit *Dispatch* – while also expanding into full‑service publishing for games like *My Time at Evershine*.
PM Studios is also partnering 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 team, and provide production support to get the game finished on schedule.
Our goal now is to take bigger risks on bigger IPs." PM Studios is not alone in seeking ways to survive 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 company that made a splash at Gamescom. The success 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 any single title to stand out, but that AA games tend to generate more excitement because of their higher production values and striking graphics. "I want every game to succeed, especially the indies, but when you put a trailer out there people gravitate toward the flashier, higher‑budget projects. That natural attraction can help a game get noticed." Nevertheless, Yum insists that PM Studios will not abandon indie developers. "We remain a big champion for indie games," he affirms.
"We’re still helping a lot of these studios finish their projects and launch on Switch 2. In fact, we were among the first to release full games on Switch 2 cards. The revenue from larger hits helps us fund new indie experiments." He also acknowledges the risk inherent in AA projects, which typically require larger upfront investments. To mitigate that risk, PM Studios looks for safety nets such as established IPs, sequels, reputable development teams, or strong wishlist numbers before committing resources.
"Anything we can do to reduce the gamble is worth doing," he says. Yum is especially impressed by the surge of AA games emerging from China, not only for their quality but also for the speed at which Chinese studios can develop them. "I’ve been working a lot with Chinese developers, and it’s astonishing. They are fast, hungry, and incredibly talented.
They can produce amazing games at a pace and cost that outpaces the rest of the world. If other regions don’t keep up, Chinese studios could dominate the market.
Tencent and NetEase already control a huge portion of the industry – we’re already losing ground to them." Even though China is a focal point, most of PM Studios’ upcoming slate still comes from Western creators. The company also continues to invest in the physical‑collector community. It recently launched Panax, a platform designed to bring together collectors of physical games and merchandise.
"We’ve been developing Panax for years," Yum notes. "It went viral after we posted a trophy‑tracking feature, and I’m excited for the new tools and benefits publishers will gain by joining the platform." In summary, while the era of physical discs on PlayStation may be drawing to a close, there are still passionate advocates like PM Studios who intend to keep the format alive for as long as possible.
By diversifying into digital publishing, embracing AA and indie projects, and creating collector‑focused services, the company hopes to preserve the tactile joy of owning a game in a box, even as the industry moves increasingly toward a digital future.