PM Studios has been a staple 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 North American market, and since that early venture it has built a robust business model around pressing a diverse array 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 handles a large portion of the physical publishing workload for a variety of other developers. "When you sign a partner, you can easily be looking at ten titles a year from just that one partner alone." Over the years, PM Studios has acted as a bridge for many creators seeking to bring their games to new territories.
"I had a lot of friends in Korea who couldn’t get their games out," Yum recalls. "So I started importing games from Korea and China for the American and European audiences." 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 payoff 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 witnessed anything like it.
That single title ended up covering everything else we were doing." Ironically, just as PM Studios is riding a wave of success in its disc‑based business, Sony has announced that it will cease PlayStation disc production in January 2028, effectively pulling the rug out from under physical publishers. "It’s sad and devastating," says Yum.
"My first games were on PlayStation, and I’m a lifelong PlayStation fan, so I grew up with physical discs. Yet the new generation is moving toward digital. 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 discs, PM Studios intends to keep championing physical releases for as long as possible.
"We’re exploring new ways to get games out there. Eventually it may become a code in a box, but we want to highlight the collectibility of IPs and fan service. We’ll likely produce premium bundles, beautiful packaging, and other unique offerings to keep the physical experience alive," Yum explains. While digital sales now dominate the global market, Yum points out that there remains a vibrant physical segment, especially for titles aimed at younger audiences.
PM Studios released the children’s game Bluey’s Quest For The Gold Pen, and about 80 % of its revenue came from physical copies. He also notes that major IPs continue to perform strongly in retail stores, and there is a healthy appetite for physical editions of indie games that have already proven themselves digitally. "Animal Well had a limited run through Limited Run, but when we released the mass‑retail version of Lost in Cult, it sold extremely well.
Fans return for the physical version, collectors love it, and the community thrives on tangible products," Yum says. Physical copies also bring an economic advantage: they can be shared among family members, unlike digital licences that are tied to a single account. "I have twins, so I don’t want to buy two digital copies.
One disc lets them share the game and even lend it to friends," he adds. Beyond practicality, 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.
Even if most sales are digital, the option to own a physical artifact matters to many gamers." With the PlayStation disc window closing, PM Studios is adapting its strategy. "That’s why you’ll see us handling more digital titles now," Yum says. The company still backs physical releases – it is preparing a disc version of AdHoc Studio’s hit Dispatch – but it is also expanding into full‑service publishing for games such as 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 recounts. He emphasizes that funding was the biggest hurdle, and PM Studios stepped in with investment, marketing support, and production expertise to keep the project on schedule.
Their goal, he says, is to "take bigger risks on bigger IPs." PM Studios isn’t alone in navigating the shift away from physical media. Singapore‑based GCL Global Holdings, originally built around disc distribution, is now betting on AA publishing through its subsidiary 4Divinity, which recently made a splash at Gamescom.
The success of Black Myth has convinced Yum that AA titles hold significant promise. He observes that the sheer volume of games on digital storefronts makes it hard for smaller projects to stand out, but AA games benefit from higher production values that attract attention. "People are a little more excited about AA games because of the graphics quality," he explains.
Nevertheless, Yum remains a staunch supporter of indie developers. "We’re still a big champion for indie games. We continue to help them finish and release on platforms like Switch 2. In fact, we were among the first to launch full games on Switch 2 cards," he says.
The plan is to leverage the financial success of larger titles to fund and promote new indie experiments. He acknowledges the higher risk profile of AA projects, which often require larger upfront investments. To mitigate that risk, PM Studios looks for safeguards such as established IPs, sequels, reputable developers, or strong wishlist data before committing resources.
Yum is particularly impressed by the rapid development cycles emerging from Chinese studios. "I’ve been working a lot with Chinese developers, and they are incredibly fast, hungry, and talented. They can produce amazing games at a speed and cost that outpaces the rest of the world," he remarks. He warns that if Western studios don’t keep pace, Chinese giants like Tencent and NetEase could dominate the industry.
Even so, the bulk of PM Studios’ upcoming slate still comes from Western creators, and the company continues to invest in the physical‑game community. It recently launched Panax, a platform designed to bring together collectors of physical games and merchandise. "We’ve been developing Panax for years. It went viral after we posted a trophy‑tracking feature, and I’m excited for the new tools and benefits it will give publishers and collectors alike," Yum says.
Physical games may be on the decline, but there are still passionate advocates willing to fight for the format until the very end. PM Studios aims to keep that fight alive by offering premium, collectible editions, supporting indie and AA developers, and building communities around tangible gaming experiences.