Speaking to the Los Angeles Times, THQ CEO Brian Farrell admitted that the videogames market is "just not as big as it used to be," and explained the company's strategy to cope with that.
"Our strategy is to focus on bigger titles," he said. "The formula is to make great games and market them effectively. High review scores lead to high sales and high profits. We think we have a plan in place to do that and return the company back to profitability."
"Budgets are bigger now, so we just can't make as many bets as we used to," he added. "It's a matter of where you place those bets."
THQ's latest financial results showed a net loss of $191.8 million, prompting the company to layoff 600 employees, compromising 24% of its staff. Several analysts feared that THQ might be forced to file for bankruptcy soon, but senior vice president of marketing Bob Aniello believes that "THQ may be late, but being late has been part of its DNA, and it has always survived. It's too early to count them out."
