Games Workshop is as soon as once more anticipating massive income regardless of an anticipated slowdown in licensing income from blockbuster online game Warhammer 40,000: Space Marine 2.
Games Workshop’s fundamental enterprise is the sale of miniatures followers assemble and paint to be used in tabletop wargames, such as Warhammer 40,000. However it’s more and more an IP enterprise, with enormous income from smash hit video video games such as 2024’s Warhammer 40,000: Space Marine 2, and animations, such as Amazon’s Warhammer 40,000 Secret Degree episode. Final yr, Games Workshop and Amazon finalized a deal for Henry Cavill’s Warhammer 40,000 Cinematic Universe, which can contain the creation of movies and tv sequence. Space Marine 3 can be in improvement.
In a trading update, the Nottingham, UK-based tabletop wargame firm stated it now expects revenues of not less than £310 million for the six months to the tip of November 2025, which might quantity to a 15% rise from the identical interval final yr. Pre-tax revenue is anticipated to be about £135 million for the half yr, up from £126.8 million final yr. Shares in Games Workshop had been up 12.8% on the information this morning.
That’s regardless of anticipated licensing income of not less than £16 million, which might be down from the £30.1 million reported throughout the identical interval final yr.
Space Marine 2 might be essentially the most profitable Warhammer 40,000 online game ever made. It offered over 7 million copies lower than a yr after happening sale, and, in response to Saber Interactive exec Tim Willits, modified every part for the studio. Even Games Workshop itself has talked concerning the cash it’s comprised of Space Marine 2, and protagonist Titus is now main the cost on the subsequent narrative enlargement of the Warhammer 40,000 setting.
In January, Games Workshop stated it was on the hunt for the subsequent blockbuster Warhammer online game, however CEO Kevin Rountree additionally expressed a level of warning on potential future online game success, admitting hits like Space Marine 2 are few and much between. “We recognise that successes like these for Warhammer usually are not a given on the planet of video video games,” Rountree stated on the time. “Clearly we’re in search of the subsequent one. We stay cautious when forecasting royalty revenue.”
In the meantime, Games Workshop had warned that Donald Trump’s tariff plans may injury its income by as much as £12 million, nevertheless it appears the affect has but to considerably boring monetary efficiency.
Games Workshop’s major enterprise is after all the sale of tabletop wargames and their miniatures, with an expansive bricks and mortar retail enterprise offering a basis for the passion. In July, Games Workshop stated {that a} “cute trying pipistrelle bat” was “delaying our work on our new short-term automobile park.” Sure, actually.
Photograph by Uli Deck/image alliance by way of Getty Photographs.
Wesley is Director, Information at IGN. Discover him on Twitter at @wyp100. You may attain Wesley at wesley_yinpoole@ign.com or confidentially at wyp100@proton.me.