THQ has officially declared bankruptcy.
The company has been struggling for well over a year now, of course, and the warning signs that it was in shut-down process have been coming thick and fast for months. Despite that we all hoped it could turn things around because, above everything else, THQ is a publisher with a lot of valuable properties.
It's a further sign of a worrying trend in the games industry. THQ was the highest-profile mid-tier publisher. Its demise should be taken as a warning by the industry that the future will look something like this: either you're an EA or Activision, or you're an innovative little publisher on mobile platforms and/ or PC.
Then again, the success of the likes of Paradox Interactive would suggest that there is still room for that mid-tier business model.
Either way, it's a disappointing day for the games industry and our thoughts go out to the workers at THQ through such a period of uncertainty so close to Christmas. With the value of THQ's IP, we hope the company finds a buyer soon.
Snippets of the Game Industry – Week 35, 2014
17 hours ago