PM Studios has been a veteran in the world of physical game publishing for roughly two decades. In its formative years, the Las Vegas‑based company introduced the Korean rhythm‑action franchise DJMax to North America, and since then 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," CEO Michael Yum told GamesIndustry.biz.
He added that the firm handles the physical side for many other publishers, noting that a single partner can generate ten or more releases annually. This volume has allowed PM Studios to become a trusted conduit for developers seeking to reach new regions. Over the years, the studio has acted as a bridge for numerous creators, especially those from Korea and China who struggled to find distribution channels in the West.
"I had a lot of friends in Korea who couldn’t get their games out," Yum explained. "So I started bringing Korean and Chinese titles over to America and Europe." Among those imports, one game made a seismic impact: Black Myth: Wukong.
Yum admits that taking on the physical publishing of Black Myth was "one of our biggest risks," yet the title far exceeded his expectations. "I didn’t realize how massive it would become. When it blew up, it was a completely new experience for me – I’ve never seen anything like that," he recalled. The success was so overwhelming that it "covered everything else" in the company’s portfolio.
Ironically, just as PM Studios was riding this wave of physical‑media triumph, Sony announced that it will cease disc production for PlayStation consoles in January 2028. "It’s sad and devastating," Yum said. "My first games were on PlayStation, and I’m primarily a PlayStation player, so I grew up with physical discs.
But the reality is that a growing share of gamers now buy digital copies." He noted that his own children, members of the digital‑native generation, often get confused when asked to insert a disc. Despite the looming discontinuation, PM Studios intends to keep supporting physical releases as far as possible.
"We’re looking for new ways to bring games out. It may eventually become a code‑in‑a‑box model, but we want to highlight the collectibility of IPs and fan service," Yum explained. "We’ll likely produce premium packaging, bundles, and other unique formats to keep the tactile experience alive." While digital sales dominate globally, Yum points out that a robust physical market still exists for certain segments, particularly younger audiences. PM Studios published the children’s title Bluey’s Quest for the Gold Pen, and about 80 % of its revenue came from physical copies.
He also observes that major IPs continue to perform strongly in brick‑and‑mortar stores, and that indie games with proven digital success can translate into healthy physical sales. "I did the mass‑retail version of Lost in Cult and it sold extremely well," he said, referencing the earlier limited‑run physical of Animal Well, which still attracted collectors who wanted a tangible edition.
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. I buy one disc, they share it, and they can lend it to friends," Yum explained, underscoring the practicality of physical media for households.
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," he said.
Even if most sales are digital, the option to own a physical artifact carries emotional weight for many gamers. With the PlayStation disc era winding down, PM Studios is adapting its strategy. "That’s why you see us handling more digital titles now," Yum noted.
Nonetheless, the company remains committed to physical releases, backing projects such as the upcoming physical edition of AdHoc Studio’s hit Dispatch, and taking on full publishing responsibilities for titles like 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 I could do to help," Yum recounted. He highlighted funding as the biggest hurdle, saying, "I can invest, bring in my 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 is not alone in navigating the shift away from physical media.
Singapore‑based GCL Global Holdings, originally built around physical distribution, is now betting on AA publishing through its subsidiary 4Divinity, which made a splash at Gamescom. The success of Black Myth has reinforced Yum’s belief in the potential of AA games.
He notes that the sheer volume of titles in digital storefronts makes discovery difficult, but AA games often attract more attention because of their higher production values. "People are a little more excited for AA games because of the graphics quality," he said.
Nevertheless, Yum remains a staunch advocate for indie developers. "We’re still 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 launch full‑game cards for Switch 2," he explained.
The plan is to leverage the financial upside from larger titles to fund and experiment with new indie projects. Recognizing the higher upfront costs of AA games, PM Studios is taking a measured approach to risk. "We look for an attached IP, a sequel, a credible developer, or strong wishlists – anything that reduces the gamble," Yum said. Yum is especially impressed by the rapid development pace of Chinese studios.
"I’ve been working a lot with Chinese developers, and it’s incredible. They’re fast, hungry, and extremely talented.
They can produce amazing games at a speed and cost that outpaces the rest of the world," he observed. He warned that if Western studios don’t keep up, Chinese giants like Tencent and NetEase could dominate the industry.
Even so, PM Studios’ pipeline remains heavily weighted toward Western creators, and the company continues to champion physical formats. It recently launched the community platform Panax, designed to unite collectors of physical games and merchandise. "We’ve been developing it for years, and it went viral after we posted a trophy‑tracking feature. I can’t wait for everyone to see the new tools and the benefits publishers will gain by being on the platform," Yum enthused.
Physical games may be on the decline, but for firms like PM Studios, the passion for discs, boxes, and tangible collectibles will keep the drumbeat alive until the very end.