PM Studios has been a veteran in the realm of physical game publishing for decades. Roughly twenty years ago, the Las Vegas‑based firm introduced the Korean rhythm‑action series DJMax to the American market, and since that initial breakthrough it has built a robust operation by pressing a diverse slate of titles onto discs and cartridges.
"We probably back up a hundred or more games on the physical side each year," CEO Michael Yum told GamesIndustry.biz. He added that PM Studios handles the physical side for many other publishers, noting, "When you sign one of those partners, you can end up with ten games a year from just that one company." Over the years the company 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 explained. "So I started bringing games from Korea and China over to the US and Europe." One of those imports turned out to be a game with a disproportionate impact: Black Myth: Wukong.
Yum admits that Black Myth was "one of our biggest risks" when PM Studios agreed to handle its physical distribution, yet the title exceeded every expectation. "I didn’t foresee it becoming that massive.
When it blew up, it was a wild ride – I’ve never seen anything like it," he recalled, adding that the success of that single title "covered everything else" in the company's portfolio. Ironically, just as PM Studios is riding a wave of physical‑media triumphs, Sony has announced that it will cease PlayStation disc production in January 2028, effectively pulling the rug out from under the business. "It’s sad and devastating," Yum said. "My first games were on PlayStation, and I’m primarily a PlayStation player, so I naturally gravitate toward physical copies.
But the truth is, a growing segment of gamers now buys digitally. My own kids, who grew up with streaming, get confused when I ask them to pop a disc into the console." Despite the looming end of PlayStation discs, 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 end up with a code in a box, but we want to highlight the collectibility of IPs and fan service. That means premium packaging, bundles, and creative approaches to keep the physical format alive," he said.
Even though digital sales dominate globally, Yum points out that a strong physical market still exists, especially for titles aimed at younger audiences. PM Studios published 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 big‑name IPs continue to perform well in retail, and there is a healthy niche 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 said, referencing the limited‑edition physical run of Animal Well that had previously been released through Limited Run.
"Fans still come back for the physical version; collectors love it." Physical copies also have an economic advantage: they can be shared 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 they can lend it to friends," Yum explained.
Beyond practicality, the backlash against the end of discs stems from a sense of loss. "People are upset because you’re taking away a choice," he observed, even though the majority of sales are now digital.
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," Yum said. The publisher still champions physical releases—such as the upcoming disc version of AdHoc Studio’s hit Dispatch—and is also taking on full publishing duties for games like My Time at Evershine.
The company is also collaborating with Telltale on the long‑awaited sequel The Wolf Among Us 2. "I met the CEO, learned about the challenges, and offered what we could do to help," Yum recounted. "The biggest piece was funding.
I said we could invest, bring in our marketing and production teams, and help finish the game on schedule." PM Studios isn’t alone in seeking a new path. Singapore‑based GCL Global Holdings, historically focused on physical distribution, is now betting on AA publishing through its 4Divinity label, which recently made a splash at Gamescom.
Impressed by Black Myth’s breakout, Yum sees great promise in the AA market. He notes that the sheer volume of titles in digital storefronts makes discovery difficult, but AA games attract more attention because of their higher‑quality graphics. "I want every game to succeed, especially indies, but flashy AA titles naturally draw more eyes," he said. Nevertheless, he refuses to abandon indie developers.
"We remain a big champion for indies. We’re helping them finish games and launch on Switch 2, and we were among the first to release full‑game cards for the new console. The success of larger titles helps us fund new indie experiments." Yum acknowledges the higher risk associated with AA projects due to larger upfront budgets, so PM Studios mitigates that risk by selecting titles with built‑in strengths—recognizable IPs, sequels, credible developers, or strong wishlist numbers. He is particularly impressed by the surge of AA games emerging from China, citing both the quality of the products and the speed of development teams.
"Chinese developers are incredibly fast, hungry, and talented. They can create amazing games at a pace and cost that outpaces the rest of the world. If others don’t keep up, they’ll dominate.
Tencent and NetEase already own a huge slice of the industry, and we’re already losing ground to them," he warned. Even so, the bulk of PM Studios’ upcoming slate still comes from Western developers.
The company also remains committed to physical collectors, having launched the community platform Panax to unite fans of physical games and merchandise. "We’ve been building it for years. It went viral after we posted a trophy‑tracking feature.
I can’t wait for everyone to see the new tools and benefits publishers will get from the platform," Yum enthused. Physical games may be on the decline, but there are still passionate advocates who will keep beating the drum for disc‑based experiences until the very end.