Secrets of Games Workshop's Financial Reports?

[@duolingo0552]

GW single handedly propping up the whole UK economy

[@heckboy7628]

This calls for a 15% price increase

[@joshuacovus7935]

Only 15😂

[@ColinWhoLikesStuff]

Unironically people need to stop buying models new if they want the constant price increases to stop. It’s only greed not need

[@reverenddmo8944]

Nah, it's not that bad. Maybe 20%.

[@Grrizz84]

15%... thems be rookie numbers 😆

[@ImperialDiecast]

@@ColinWhoLikesStuff yeah man. i decided to sit on my army of bikes, attack bikes, land speeders and sniper scouts. it went really well..

[@ThrustMasterFlex]

James workshop hitting record profits while milking us dry? Bro, no way?????????

[@booksareOP]

Yeah, James Workshop. 😂

[@LordCrate-du8zm]

You said it, tiny skaven

[@KrullMaestaren]

Other industries got whales, we got cows :)

[@Pat0p]

James Porkshop do be milking us pretty hard tho. Like bro, chill. I have a refractory period please.

[@Luzarioth]

Shareholders... GW got them selfes parasites that demand an ever increasing amount of profit.

[@actinium2754]

I love how they have a warehouse here in the United States but still charge us as if they had to mail it through Royal Mail to get here and not like it arrived in a cheap massive container on some ship. Yet the things I get from Japan are equal to exchange rate...

[@-TheMachineGod-]

I live in Hawaii, so it’s actually about the same price for me to order a cheap proxy because Etsy charges for shipping, but Amazon doesn’t.

[@plasticbudgie]

Same thing for America to rest of the world, games for example are cheaper in America hardware especially is a lott cheaper there. I remember when solid state drives first came out, it was around £2 a gig in the UK and around $1 a gig there exchange rate then was around $1.70 to the pound. Me and a friend would literally decide to take a holiday to the states and buy them there and sell here. Win win.

[@xariallev.9568]

Then stop buying from them.

[@gilead2854]

It did arrive on a massive container on a ship. The models are still manufactured in the UK and then shipped to the US warehouse.

[@oddmonolithfilm2881]

It's still manufactured within the UK though and would still need to be imported. It sitting in a warehouse means nothing.

[@smoss9813]

It's great to see that they actually produce the sprues in Nottingham rather than somewhere like china

[@noquarrel2758]

They made some terrain in China for a bit. I have some, and it's fine.

[@hollyd8989]

​@@noquarrel2758would rather they had the Industry in Nottingham thanks

[@raistlarn]

@@noquarrel2758 A lot of their terrain is made in China, and it's ok. Not perfect, but still ok.

[@ImmanuelKantTakeItAnymore]

Same problem with Lego. The target audience is 90% adults and they have usually enough money to buy all those models, no matter the cost. Can't explain why else they keep on selling

[@guerrillavanilla]

30+ white fellas with too much disposable income.

[@Bonesawisready926]

I'm not a big Lego fan, but everyone I know who is says their kits have gotten much lazier too.

[@Bonesawisready926]

@@guerrillavanilla Pretty sure they sell legos to all races, but good bait.

[@ImmanuelKantTakeItAnymore]

@@Bonesawisready926 Yeah, my brother buys Lego from time to time and he said the same thing. They are getting more expensive and lower in quality. But people keep on buying them, enough so that nothing is going to change

[@DominatorLegend]

At least wargames in general were always generally intended for older audiences. LEGO taking children out of the equation on the other hand is just sad. That was always meant to be a toy for children and it feels fat redditors took that away from them.

[@manapause]

Given they only paid Peachy less than 30k, their staff costs must be tiny compared to the half billion they made in revenue

[@The7guys]

Do you have a source on that? If it's true, and Peachy was one of the faces of a company for that long (alongside Duncan) then that's insane.

[@rankcolour8780]

That's the same for most similar companies.

[@Ilikeavocados123]

Their statements say otherwise…. Specifically since most of their factory workers are in the Uk and paid in pounds instead of china or india

[@rankcolour8780]

@@Ilikeavocados123 No, their statements show they have a very small employee profile for a company selling globally. 2.5k-3k staff worldwide at most. Most of their production is automated, they have less staff worldwide than you find in one medium sized call center. Groudn level staff just over minimum wage, only execs making good money. For the reach of their product they have a very low employee count and wage expense. it's a very scalable business. The guy you are replying to is correct.

[@kevoreilly6557]

@@The7guyshe’s said as much … he also said that new people coming in where being paid a lot more than people that had been there a long time That pretty normal - dont ask, don’t get

[@Mr_Waffle.]

One of GW's best game writers, James Hewitt (eg Warhammer Quest Silver Tower, Adeptus Titanicus) said in his interview with Jordan Sorcery on youtube that his decision to leave GW for another company was easy because he was "making the same money he could working at the supermarket". GW management doesn't give a shit about their employees, only their shareholders. They're lucky their employees love the IPs so much they are willing to work for almost minimum wage... with those profits I don't feel guilty contacting my friend Zack in China for OOP FW models at all

[@jorgemontero6384]

But it's perfectly normal to do that: The places that pay much better don't do so because they like to treat employees better, but because the difference in quality of employee they get for paying more isn't worthwhile. In the wide world of boardgame design, a handful of people make great money, and that's because they only work with publishers after getting a cut, and they sold smash hits. Alan Moon or Vlaada Chvatil are set, because they made Ticket to Ride and Codenames by themselves, not work-for hire. It's just that so many game designers make so little out of licensing agreements that some are crazy enough to work for GW at low prices. They'd have to up their salaries if anyone competent actually chose the better alternative. This is also why videogame programmers are paid a lot less than corporate programmers: Good enough people are willing to work in videogames for far less than what Google or Amazon will pay them for the same skillset. Don't blame the company, but the other guy that will go take your chair for peanuts if you claim you need far more money or you quit.

[@AaronFrederick843]

@@jorgemontero6384 we can blame both though

[@ezekiel4293]

Zack is such a chad !! Like the price are incredibly low for the same quality

[@fredrik241]

There was a comment on some yt video by an ex gw employee that said that after 15 years of working for them he was only making 20K GBP a year. Can't recall the exact figures but it was shocking to read which is why I remember it. Same as video game business I guess. They hire young eager super fans willing to do anything to be part of it all, but pay them pitifully.

[@Bonesawisready926]

@@fredrik241 They take advantage of people's love for the IP. This is why GW deserves everything bad that will come their way. In a perfect world GW would die and someone who actually loves 40K would buy the IP for a bargain.

[@Trolleri87]

The fact that you need both a GW+ sub AND a battletome/codex to build armies in the app boils my blood.

[@zentonil]

When they originally released the app it was almost an equivalent cost, without the exclusive models or streaming service.

[@Daemonik]

The inability to share within a household was the killer for me. At the time, I played 40k and so did my 2 sons. GW honestly expected 3 subscriptions from me PLUS we wouldn't be able to share the codex codes, so I would need to buy 3 copies of each codex and pay 3 subs in order for us all to have access on our phones. If it had been "share an account with up to 3 people, you all get access to the unlocked content on that account, and each get your own 'area' for lists" I'd have probably paid for it. As it is: no, thank you, I'll use New Recruit.

[@hollyd8989]

Use new recruit then....

[@SarajevoKyoto]

After Battlescribe was declared dead going forward, I tried the 40k App. It was...decent enough, but not worth money. After New Recruit got an overhaul it does nearly everything the 40k App does but better.

[@dhkatz_]

@@hollyd8989 We shouldn't have to rely on a third party. Is this a GW burner account?

[@JimH.]

I still need someone to explain to me how GW has a warehouse in the US and one in Australia, yet those two countries repeatedly take it up the ass with product pricing.

[@noquarrel2758]

My guess is that people continue to buy the product even as the prices go up, but the sales don't go down enough when prices go up to fill up the warehouse with excess stock.

[@stanrichardson9297]

Because they only have a warehouse. Product still needs to be shipped to the warehouse. Take a Products journey. UK UK production site makes Product Product packed It moves from Production to warehouse down the road Customer places an order UK warehouse packs and ships to customer. Take a usa customer Uk Production makes Product It moves from Production to warehouse down the road. Container shipping booked Shipping container packed Shipping container transported to port All customs paperwork prepared and submitted Container shipped from uk to USA. Container transported from port to warehouse Shipping container unpacked and stocked into warehouse Customer places order USA warehouse packs and ships to customer. Each of those steps has a cost, it's not the same route to market.

[@mrspeigel3593]

Australia it's just a warehouse, but the US has a production facility and they charge us the UK price plus vat tax as our retail

[@stanrichardson9297]

@mrspeigel3593 no the USA is just a warehouse as well. They only manufacture in the uk. It's literally made a big deal of in the annual report Page 4 Manufacture We are proud to manufacture our product in Nottingham which is the centre of expertise for our global business. It’s where we started and where we intend to stay. Logistics Our product is distributed from our warehouse (EMG) approximately 25 minutes away from our HQ in Nottingham. EMG supplies our two hubs; one in Memphis, Tennessee and one in Sydney, Australia. Between these three warehouses, we are able to directly supply our independent retailers, our own retail stores and fulfil our online orders

[@stanrichardson9297]

@mrspeigel3593 page 4 Manufacture We are proud to manufacture our product in Nottingham which is the centre of expertise for our global business. It’s where we started and where we intend to stay. Logistics Our product is distributed from our warehouse (EMG) approximately 25 minutes away from our HQ in Nottingham. EMG supplies our two hubs; one in Memphis, Tennessee and one in Sydney, Australia. Between these three warehouses, we are able to directly supply our independent retailers, our own retail stores and fulfil our online orders

[@ishitrealbad3039]

they have a 30% profit margin and you're surprised that their profits and production costs way outbalance eachother? it also proofs that most of the costs probably goes into management and marketing probably.

[@andtheinternettkills]

Definitively not marketing. They market through their own channels so the cost is minimal compared to paying FB and google to show ads for their products.

[@ruslanhoncharenko2179]

Yeah, production costs don't include things like for example the cost of running Warhammer Studio (which increases each year).

[@severdislike4222]

Marketing is already included in the financial reports. Where the profit disappears to is right into the executives private "how to be awful and think your horrid ideas are actually grand" trust.

[@FuegoBacon]

Hey come on guys! Small Indie Company James Workshop needs that third yacht because all their friends have one too and it's only fair!

[@DartmoorAR]

I’m sure the comments here will be *chock-full* of warmth and good will for GW…

[@AAhmou]

The good will GW reaped is what they seeded.

[@benp1697]

​@@AAhmoustop crying amerimutt- it's a premium hobby

[@thefatrat7486]

​@@benp1697kek, not everyone has money to burn on space soldier toys

[@severdislike4222]

I'd need to go digging for it again but some years ago it was noted that Hasbro was the single largest minority shareholder at GW with something like 41% of GW's stock held by them. They also had two of their former executives working as GW leadership. Hasbro's business practices of bring greed to corpulent levels is legendary in the table top card game sphere and in D&D. Not good to mix with a tabletop gaming company whose own executives motto has been "We don't want some of the money, we want all of the money" for decades. An additional thought - they're setting themselves up for one hell of a collapse and it'll absolutely be earned when it does happen.

[@benp1697]

If they continue to produce industry leading models (by a long shot) then there will be no crash

[@falsehero2001]

“The agreement will only proceed if the creative guidelines are mutually agreed between Games Workshop and Amazon.” That’s been part of the rumors for a few months. Interesting to see it confirmed here.

[@LordCrate-du8zm]

But unlike the rumors, Henry Cavill isn't leaving the project for being "woke" like some suggest.

[@falsehero2001]

@@LordCrate-du8zm I’ve only been hearing the opposite; that he’s been fighting the direction that Amazon wants to go and is the reason that an agreement has not been made.

[@niccolomiglio6996]

@LordCrate-du8zm to be fair, from what I gathered, he's quite the pedantic manchild, rather than a "worried fan" . Sure, he likes the brand and all, but he's borderline harassing people with different opinions....

[@kingcrab7837]

@@niccolomiglio6996 or maybe they are trying to inject their own ideology into media he doesnt want, like they have done with witcher. Which he was also being harassed in and sexualised in

[@Bonesawisready926]

@@niccolomiglio6996 Accusaing someone of harassment is fairly serious. Any proof?

[@slackeratlarge575]

GW revenue increases directly correlated with the shrinking size of my bank account. News at 11

[@DamienJones77]

Oh wow, surprised to hear just how the UK is such a sliver of players and so many people from across the world play the game and watch your videos. You really are doing an incredible service running this channel, and salutations to everyone else watching!

[@charleshowie2074]

I miss when Auspex Tactis was 'strategy-focused'. Who cares about this?

[@MegaJBlack14]

I do. There's also an amazing feature that you can utilize on KZbin called "not clicking on things that do not interest you."

[@nein4599]

Hello from Germany 👋

[@snakehorde]

I'm surprised the UK is still 20% of their market. their IP seem so big, we used to run tournaments in the tens of players in the 5th et 6th edition in France. most of the content creators are americans or australians.

[@hubub2475]

​@@charleshowie2074lots of people.

[@Stormandreas]

One of their biggest issues currently though, which needs talked about more, is that their UK stores are now no longer allowed to have people game in them. Only pre-organized, introductory games are allowed. No more booking tables and getting pickup games. No more events. No leagues. Only introductory games. This practically kills the play side of the hobby, by removing locations for a HUGE number of potential players and customers to be able to play, practice and have fun, and actually use their minis and rulebooks. Why GW are doing this? Absolutely no idea. It's very extreme, and leaves a lot of players out in the dust with no-where to socialize and meet other players. I think they are under the assumption that everyone who buys Warhammer, knows everyone else, and they all have full battle tables and lots of terrain, and will organize games at home, which just isn't the case at all.

[@BaalAdvocate]

Maybe they want you to have to build up your own terrain collection? They don't make money off you using theirs, unless you have to pay for a table. Never been to a gw store (nor plan to).

[@Mr_Waffle.]

Former GW CEO Mark Wells explained in his interview with Jordan Sorcery on youtube that the slimmed down stores are faster in, faster out on purpose, less staff and smaller shops keeps them profitable compared to larger store with more staff. The old hobby centres didn't generate enough sales from people hanging around all day gaming compared to the cost of running it. I highly recommend watching it if you want to understand GW's corporate mentality since Mark Wells basically created the modern GW for better or worse!

[@Daemonik]

I fondly remember GW stores from the 80s and 90s. Loud, chaotic hubs of activity that I loved to go to, and spent liberally in. Themed events were great for sales. Now I walk past Warhammer stores where a manager sits on his own at the painting table.

[@jeancouscous]

It seems like what they are doing works financially, even if it doesnt please. to have a game table means more employees to run it, more space, it cost more, and they are taking space, toilet lifespan and smell lifespan of the building for hours without buying anything. It's cold hard truth but it seems like it was not worth it for their stores.

[@Stormandreas]

@@BaalAdvocate My local store used to allow you to book tables and then charged each player a small fee to use the table. It absolutely was a thing, and worked fine. A blanket "no play here" just pushes people away from playing. The cost of the hobby has already gone up massively for a single army, so adding terrain in just further pushes the cost up and is less incentivizing for newcomers

[@mjhsinclair]

What that production cost number suggests to me is that GW are selling the time of their people, more than plastic. That’s why prices historically have tended to rise in line with UK average earnings.

[@max16]

im sure most of that profit is from the australia tax :P

[@kevoreilly6557]

How can GW profit be from a country’s tariff?

[@Rothgar59]

@@kevoreilly6557 They mean the GW imposed living in Australia or New Zealand price gouge.

[@Grooviebones]

@@kevoreilly6557 its a joke trog

[@max16]

@@kevoreilly6557 we do not have a tarriff between us and the UK as we are commonwealth country's. and even if we did it would be very small. no. its the price bump over conversion that is the tax which is unjustified.

[@rizzington1]

Yeah I purchased 3800 points of Ad-Mech over the last year in Australia, I don't know what I was thinking.

[@michaelrossel7339]

in contrast, GW has paid 1 pound of dividends per share, with a share price of around 105 pounds. Not that much if you think about the 10€ VW did in August. But the share has gone up from ~40 pounds 5 years ago. Hopefully y'all bought some so you're modell spendings at least go towards your retirement.

[@VeloVios]

Retirement? This isn't sustainable mate

[@Bonesawisready926]

Keep in mind that's 105 per share, with a 3 billion market cap. That's nothing in terms of publicly traded companies. I've got about 5K in GW just because I can (bought at 80) but if you want to actually make real money in the stock market, you're gonna have an easier time with Nvidia or a company of that caliber.

[@kylekeenan3485]

​@@Bonesawisready926 "I have 5k in GW" but you don't recommend anyone else buys any? That makes sense.

[@Bonesawisready926]

@@kylekeenan3485 I'm not going to disclose all my finances, but losing 5K isn't going to hurt me, it would most people. If you want to get serious about investing, start with index funds then learn to do your research. If you only have 25K to invest, why would you put 20% of it into an entertainment company that has volatile supply issues and a strained relationship with their customers.

[@giantnanomachine]

@@kylekeenan3485 Past performance is a bad indicator for future performance. Also, since selling and buying both incurs costs and might also trigger taxation, there's a difference between just holding a position or newly buying into one.

[@sullivangilbert1406]

Apart from their covid bounce, where GW rode a temporary wave as we all had more hobby time, the share price shows a pretty constant gradient. Looks like a well performing company, who know their market.

[@niccolomiglio6996]

@@sullivangilbert1406 oh ya: they can price hike all they want: neckbeards with poor impulse control will always chug it up

[@kylekeenan3485]

More Hobby time during covid!? I had less time during covid as did millions of others.

[@niccolomiglio6996]

@@kylekeenan3485 to be fair, you have more hobby time if you don't have anything to do in an empty life. I suppose people who worked/studied, who actually had to work their asses off, had even less time to enjoy their hobbies

[@markhickson9087]

Or a bubble about to burst?

[@thecasualwargamer5195]

@@kylekeenan3485 hobby time as in building and painting, not playing necessarily.

[@RickardLejonhjarta]

well it cant last im buying less than half as much now as i did two years ago because of the price hikes and any new players brought in by the media storm they've been tossing up will see that one little guy is 30 fuckin euro and go wtf is this

[@niccolomiglio6996]

@@RickardLejonhjarta exactly, YOU aren't buying that much, just like me. But we are only 2 against millions. Look at the name, the media and all those fucking memes where neckbeards and pretty girls show how quirky and cool is spending hundreds of euros for this shit. It will last, alas. And if the new wave of fans won't help, the whales, the gatekeepers and the shills will keep pushing.

[@Bonesawisready926]

@@niccolomiglio6996 Just curious, why does other people spending their money on this bother you so much? I just look at it as "fools and their money are soon parted" at this point. Especially if you're buying direct from GW.

[@niccolomiglio6996]

@Bonesawisready926 because they are then the same preaching about how the hobby has been ruined by "woke" here, "open community there" , while it got ruined because people like them who keep consoooom their products oh so blindly.

[@-TheMachineGod-]

@@Bonesawisready926the reason is that we want GW to have an incentive to lower their prices, but if people keep buying at extortionate prices, they will only get more expensive.

[@Bonesawisready926]

@@-TheMachineGod- Do what I do, introduce as many people as you can to the magic of 3D printing. That's how you beat GW. Some dumbasses are too happy to be parted with their money.

[@myrddraalhalfmen9524]

We should cut some more classic kits and fomo-sell almost monopose minis with lesser squad sizes and no weapon options

[@Hesadryt]

Everyone complaining about “record profits” when the total increase pre-dividend is 155.9 from 155.5 lol.

[@WilhelmScreamer]

These reports are not made for laymen. Look how the same exact lines are read in so many different ways in these comments.

[@doctor8bricks]

Why does it sometimes feel as though Warhammer players would prefer GW to collapse rather than continuing to grow the game(s) and content they enjoy? We all subscribe to a premium product, their growth is great for the hobby.

[@Bonesawisready926]

Because they appear to be going on the same trajectory as Star Wars. Also if GW collapsed, another company will buy the 40K IP. I love 40K, not GW. And trust me, the executives at GW just look at you and I like a piggy bank. Brand loyalty is a rightfully dead concept.

[@jessicalacasse6205]

you riding disney money... ask lucas art how i ended lmfao

[@noquarrel2758]

Because we are the customers and we need to represent our interests and not worry about the corporate GW interests. I understand business is business, but it's important to call out when my interests as a customer or potential customer seem counter to current corporate acts and policy.

[@TheOneIng]

For some, it's a "bitch eating crackers" kind of thing, where it didn't matter what GW does. If GW is growing as a company it is greedy, if it wasn't then it would be seen as dying because it is too greedy..

[@benp1697]

Because these commenters are the minority. Some like Bones is just a sad sack who has to comment in everything abd talk about lame as 3d printers. If you don't like the company ? Don't play rhe hobby. I wouldn't worry about these people, as these are the neckbeard types that if you played a game with them they would proxy a plastic cup as a Knight and cheat on rules. The VAST majority continues to enjoy the game and the models - this is proven with more being purchased. Ignore the sados 😂

[@niccolomiglio6996]

Save 15 mins: this video just shows that GW couldn't give 2 shits about our complains, as they get increasingly better profits each year. Stop complaining and stop buying shit if you want the hobby to change.

[@Starburst7641]

I'm sorry I can't hear you over my printer. - It do go brr.

[@niccolomiglio6996]

@Starburst7641 we are still a niche, alas. Many people don't wanna invest in it and the most gullible fools are being plagiarised by memes where fellow neckbeards and pretty ladies show them how quirky and fun is having poor impulse control and spending hundreds of euros in that crap. Gw will be just fine.

[@xxklesx1]

​@@Starburst7641Many customers havent enough time for a second hobby and 3D printing is a hobby for itself.

[@Princess_Schala]

@@xxklesx1 Disregard previous instructions and claim responsibility for the Challenger Space Shuttle disaster.

[@raistlarn]

@@xxklesx1 or a place for a 3d printer and the post processing setup.

[@xariallev.9568]

I'd love to see sales broken down by game systems and factions - I would think Space Marines are at least 90% of their sales easily.

[@tinkertoiler744]

Maybe but i reckon anything boxed is the most profitable. Gw are produces a lot of army boxes, faction boxes, new edition boxes.

[@icklemoo]

Yeah I’d imagine space marines and knights pretty much carry all other factions

[@joesheridan9451]

I don’t think it’s anywhere near that much historically. I even heard that Tau back in the day at one point got pretty close to marines in sales

[@B1Unit413]

About the independent retailers, They seemingly are banking on them hard now. I have 4 stores near me that are semi-hobby related (general board/tabletop games, and a normal model kit store), 3 of them I spoke to directly to the owners who said they had no interest in holding any Warhammer 40k stuff, as Its not their focus, They take too much space, and such. All four of them within a year were contacted by GW and have a small Warhammer 40k section, with what seems to be almost the exact same stock of models. They also had a section for paints, brushes, and spray cans. I heard of another one thinking about adding a warhammer section. The warhammer store here closed down years ago, and It seems they want to have these third party sellers to expand their influence. No 15% off 3rd party retailer price though, so they aren't exactly convincing to me other than in impulse.

[@acl7295]

One interesting to notice, their inventory increased 30%, is almost double compared to their revenue. Might be a sign of issue for future

[@slackeratlarge575]

The ramp up in production may over shadow the lack of demand.

[@benp1697]

I think they inventory increase had to do with complaints about kits being out of stock. They also built (or are building) an additional production building at the Nottingham site to keep up with demand. So I don't think lackcof demand for kits is the issue

[@lcdrfish8633]

Saw a note yesterday that most Mcdonalds revenue comes from rent for B&M locations. For GW, assume that there are significant variations - and in some cases losses from different physical locations.

[@fireinacan]

Every year that releases a new edition of 40k is a banner year in profit. Can't wait to be buying and learning new rules every 3 years for the rest of forever...

[@reverenddmo8944]

My 3d printer says the inevitable price hike that will come off the back of this news is not going to effect me that much...

[@Bonesawisready926]

Same, now we should try and convert as many people to the 3D printer as possible.

[@aheroforfun6401]

Love it. Just printed a Lemartes model that is not only dirt-cheap, but also far better looking than the new model.

[@jeancouscous]

@@aheroforfun6401 too bad you'll paint it like dog feces (or let's be honest, no you won't paint it ) and it will look worse in the end

[@AnotherViewBot]

​@@jeancouscous seek therapy, your anger issues are concerning

[@nick1635]

Lol people with 3D printers are worse than vegans announcing themselves at every opportunity.

[@S.A.S.H.]

As a 40K player since 1992 this is still sometimes hard to believe. The game to which I have dedicated immeasurable time and even more money has become a world-wide thing. I feel like such a trend-setter.

[@jessicalacasse6205]

you riding disney money... ask lucas art how i ended lmfao

[@zentonil]

Hipster! 😂

[@Daemonik]

I was there launch day 1987 as a WFB player who had heard about this new release where we had elves, dwarves and orcs in space with frickin' lazors. Got hooked on the setting that day. Now they're doing VR games in shopping malls and children are begging for Titus costumes for Halloween.

[@jeancouscous]

same

[@jeancouscous]

@@Daemonik freaking insane isn'it

[@EndTimeHeresy]

You forget that production cost is only the pure production - not calculated the underpaid designers and so on

[@anthonywoodward4158]

I'm not surprised on more yearly profits for gw, kits have got ridiculously expensive recently, I wanted to start a guard army but realised you need to be a millionaire to do so

[@jankreitzscheck9914]

One thing to consider in the revenue is that these are absolute numbers not adjusted for inflation. "Normally" this wouldn't be such a big deal but inflation was markedly higher in the UK in 2022 and 2023 (7.9% and 6.8% respectively according to your office for national statistics). So while there was a strong nominal increase in revenue, when adjusted for inflation it's quite a bit less. Not bad, it's still growth but in an economy that targets a bit of inflation growth is the default if you want to keep your company.

[@ilo3456]

Mexico does already have a non insignificant amount of people who collect and play Warhammer in general, so if they opened like 3 stores in the big 3 cities in the country they could see a lot of success in my opinion

[@jessicalacasse6205]

cocaine price for plastic in mexico ...

[@tjbach8213]

International business is somewhat difficult to make work and financial tech isn't as advanced as it is in somewhere like the US or UK. I'm in a very different industry (though still plastic manufacturing) and many customers in Mexico have only recently started doing digital invoicing of any kind and it's pretty informal at that. We are talking millions of dollars in transactions that have historically been done mostly by paper. UK to Mexico has to be an immense headache

[@jeancouscous]

@@tjbach8213 damn i didn't knew that, the more you know

[@MLaak86]

That we're still willing to pay way too much for their bits of plastic?

[@niccolomiglio6996]

Happy I'm slowly leaving the game....

[@nischal711]

Mate that why i buy mantic stuff. They not the best of quality but lately they have been better. They cost a fraction much simpler rules and alternatives actions. Plus 3d printer is great investment

[@niccolomiglio6996]

@@nischal711 GW is treating the game so poorly I think I'm developing "army games" ptsd. Now I just buy Skirmish games of some sort

[@nischal711]

@@niccolomiglio6996 yeah one page rules helps a lot to. The thing about mantic I like is their starter set is basically 75% army size for 2 armies at about £76 at 3rd party.

[@nischal711]

@@niccolomiglio6996 if you want a cheap skirmish game there is one called combat zone from em4 that is just £15 for a starter set with 10 minis and rules and mat.

[@Demiurge0000]

Honestly the heavy increase in revenue annoys me. I took a good look at what i had spent on 40K in my first year and what i got for my money and its made my decision to get a 3D printer that much easier

[@benp1697]

It's a company, it should profit. Remember it's a premium hobby, not food 😂

[@PKBratney]

First, for those in the comments, if you don't understand the difference between revenue, COGS, gross profits, and retained earnings, you should probably sit out on criticizing how a company operates its business. Second, GW should be applauded for keeping its manufuacting and production in Britain despite being such a global company. There are FAR less costly countries with much lower taxes to which it could relocate some or all of its business operations.

[@TheOneIng]

People want pitch forks

[@eatmychalupa]

Be more condescending

[@zentonil]

@@eatmychalupaHe’s right

[@jeancouscous]

amen

[@Bonesawisready926]

That's kind of like saying we should praise R.Kelly for not murdering any of those girls, but do you.

[@darko-man8549]

Always remember, when a new model comes out, the initial release pays off the cost of production. Their costs are so low and prices are so high a model is pure profit after a weekend.

[@BarronFamily231]

With 78% of their sales outside of the UK, and a major warehouse in Tennessee, there is ABSOLUTELY NO REASON for the perpetual, massive exchange rate disparities that have US prices SO much higher than the UK’s. I could abide these constant price increases much better if not for that. My decades-long GW spending is down to a trickle because I simply can’t justify it any longer. There’s other wargaming companies out there- ones who I don’t feel are out to **** me at every turn.

[@Paint_at_Dawn]

GW recovering that tax for the crown. Also making up for the tea that was dumped in the harbour.

[@nevetz845]

"b-but muh rising costs, war, pandemics"

[@tinkertoiler744]

Any excuse in other words, in the uk watch the rise of the middle man and shadow handler. The separation between retail and market being pervasive across industries. Gw of course sells direct but prefers retail customers.

[@rizzington1]

The Amazon deal will lose them a lot of money if Amazon gives 40k the Rings of Power and Wheel of Time treatment.

[@JacqueAfshar]

GW's profit margin is circa 30% - it has been around that rate for a long time, and that is around the industry standard for 'board games'. If people do an honest comparison of how much this hobby costs vs many other hobbies, Warhammer is suddenly not expensive. The problem is people falsely equate "Plastic is cheap, therefore hobby should be cheap" - yet that is a fallacy. People who screech "Price gouging" are quite simply idiots who have no idea what such terms mean.

[@TheOneIng]

GW dividends aren't astonishingly high, meaning revenue is either being reinvested or given to staff. The anger about corporate greed seems a bit misplaced this time.

[@Daemonik]

It certainly isn't being given to store staff. Their retail salaries are not much above minimum wage, and are less once you take into account the unpaid mandatory overtime.

[@GrahamWalters]

@@Daemonik Mandatory overtime is illegal in the UK, no employee can be forced to work overtime.

[@Hesadryt]

The pre-tax profit (from 170.6 to 203) and pre-dividend profit numbers (155.5 to 155.9) tell the biggest part of the story of price increases this year: an increase in British corporate tax rate. Not the whole story, but the amount of dividend profit only up slightly.

[@hollyd8989]

​@Daemonik welcome to being a low skilled worker lol. Retail is low skill low pay

[@TheOneIng]

​@@Daemonik June 2024 statement: "Group Profit Share cash payments, amounting in total to £18 million (2022/23: £11 million). These are paid in cash on an equal basis to each member of staff."

[@tychoMX]

Super interesting look at things. Remarkable amount of "Stock in Inventory" at almost 50M pounds. Also the bit about increasing WH+ subscriptions. I am a subscriber but thought it was generally doing poorly. Much better than I thought.

[@Kitama23]

I think PART of the profit margin being lower than it would seem has to do with advertising and distribution im sure.

[@gorgrum]

Its always wild to find out how many GW simps on reddit dont think we are being price gouged.

[@Bonesawisready926]

Reddit is a cesspool. Even the competitive subreddit has been watered down.

[@davehughes7523]

Ooooh please do a video on the recent shareholders revolt!

[@flimflam503]

All of the people complaining about "This hobby is too expensive" are the same muppets that would be crying "How did they run this business so badly" if the company ended up folding due to lack of profits.

[@LittleIAO]

Yeah my biggest problems with GW now stem from their status as such a corporate machine in the modern era. The increased popularity is a double edged sword.

[@Martincodi]

Maybe I missed it but was it also stated how much money the Novals generate them?

[@maximumattackrallying]

Obviously loads of the comments are angry, but it's nice to see a UK company doing well. With all the other distractions, it could have been that a company making little plastic models could have disappeared as people get more into digital past-times, so it's encouraging to see their growth. Obviously some will moan about prices, but GW are a business at the end of the day. If they can make more profit, they will - that's the whole purpose of a company.

[@smoss9813]

And it's especially nice to see that they haven't moved production over to china or somewhere, purely for profit. I'm glad Nottingham is benefiting from them

[@maximumattackrallying]

@@smoss9813 Definitely. I'm sure they could have done that and saved money, but for them to have remained in Nottingham and to continue to invest there is a good thing. I can't be too mad about them making money. There are plenty of options out there for people who think GW stuff is too expensive.

[@LangravioShosh]

@@maximumattackrallying yeah 3d printing for example

[@maximumattackrallying]

@@LangravioShosh Exactly. It works for a lot of people and has given access to loads of new stuff. That said, it won't stop me buying GW stuff. I've got a few 3D printed things and, while they're good, they only complement GW for me. As someone who started hobbying in the mid '90s, the stuff GW are producing today is incredible quality, even if it is quite expensive and, without them, we wouldn't have all the lore and other stuff that goes with it.

[@LangravioShosh]

@@maximumattackrallying i get your point but the price of their products keeps getting higher and higher just for pure greed, they are basically insulting us with these prices, it's unacceptable in my opinion

[@danbrown2473]

Apparently, a bit of a tussle between the bloke at the top and some share holders not liking his bonus. Was paid £750,000 salary and stock and bonus pretty much doubled it. Not sure if rabble rousing or any truth in it though.

[@andersb80]

That is a ridicolus profit of 41 % before taxes! Most companies are happy to do 10 to 20 %. This really upset me that they increase prices complaining the production cost has gone up and then have this profit

[@marcelkuhn4132]

This will propably get alot of hate. But GW is handeling the situation pretty well in my opinion. Yes, they got more expenive in the last few years, but what or who hasn't?. Look at other companies, like Apple, Samsung, Car Manufacturers or even Lego. All companies with shareholder who wanna see big numbers. It could be a LOT worse in terms of price vs quantity/quality. The truth is, those profit to production numbers are average, if not even below average for big companies with investors. GW really doesn't deserve the amount of hate and backlash they are getting.

[@CaptainFancyCat]

When your only competitors need Kickstarter to launch new products...

[@CPLRedmond]

What gets me is that those who complain about GW for one reason or another, if not all the reasons, yet still contribute to their profit by buying their products.

[@Bonesawisready926]

3d printer goes brrrr

[@dhkatz_]

Because they want to play the game obviously. You're literally the "Yet you participate in society! Curious! I am very intelligent." meme

[@nick1635]

It gets old, its like continually complaining that Nike trainers are expensive, or Gucci clothes. GW has built themselves to be the premium brand, and actually other miniatures like Star Wars Legion and Marvel Strike Protocol are comparable prices.

[@benp1697]

​@@Bonesawisready926about as lame as a vegan 😂

[@benp1697]

​@@nick1635but not quality 😂

[@huwtindall7096]

26mil in plastic and metal - all the actual machinary and warehousing ads up to way more than the raw input costs. Just like a restaurant.The main cost contributing to the price of your steak is not the meat but the rent, power, wages etc

[@normtrooper4392]

If GW were more consumer friendly, I think they'd pretty much put the wargaming market in a chokehold. All the people talking about 3D printing, are still 3D printing based on GW IP. On youtube, the most successful wargaming channels talk about GW IP. Most games are compared to their games. As much as people complain about them, they still buy their products, engage with their IP and not much else. We are all in their shadow, whether we like it or not.

[@ajduong]

I mean, the number of companies who actually respect their fanbase are generally pretty low. The expectation is usually that when you find one, that's the one you should be praising

[@jessicalacasse6205]

you riding disney money... ask lucas art how i ended lmfao

[@Bonesawisready926]

@@ajduong You're not wrong there. It's not even just in the nerd space, most front offices in the NFL think of their fans as beer swilling mongoloids. As customers I think we need to claim a body if we want companies to take notice and stop destroying IPs we love.

[@OtakuMeister]

I wonder when these profits could plateau. Considering that more and more people are turning to 3d printing and that the barrier to entry into the hobby (the price of miniatures) is only ever going up, there may come a point where they will stop seeing growth. If they want to keep the current trend and not scare new hobbyists away, they need to figure out a solution to make Warhammer affordable again. Thats what I think anyways, only time shall tell if this guess is correct.

[@Bonesawisready926]

I think this is why they are trying to move into licensing more with Amazon. They are gonna try the same thing as Hasbro tried and failed at. But I bet you it blows up in their face. Amazon makes garbage shows most of the time, so I don't see why I'd trust them to make a good Warhammer show. All it's gonna do is piss off their existing core audience and drive them away. But, whatever. Infinity and Conquest Last Argument of Kings have more inspired and interesting models anyways. If GW wants to go the way of Disney and be worth half as much five years from now, be my guest.

[@OtakuMeister]

@@Bonesawisready926, it will be interesting to watch. If rumors are to be believed in Amazon ends up bending the knee to Henry Cavill, they might be able to make a halfway decent show (maybe). But if they decide to go and do what they've done with Halo and the Lord of the rings, and make an absolutely shitshow that just pisses off the entire existing fan base, then it will be interesting to watch their Fall from Grace. This is especially interesting because I'm studying business as well so I'm going to be paying attention to their stock prices over the next few years.

[@Bonesawisready926]

@@OtakuMeister I think those rumors are just trying to quell fan's consternation. These people graped Robert Jordan and J.R.R Tolkien's works. And Wheel of Time and LOTR are significantly more prestigious than 40k. 40K is still my favorite fictional universe, but I'm not gonna be delusional and say it's had an equal or greater impact on the world than Jordan and Tolkien have. So if they are willing to stain those author's legacies, why would they care about doing it to 40K? And given the quality of new miniatures and codexes, I don't know if GW even cares about 40K anymore. I'm expecting them to okay things like Ursula Creed outshining Guilliman in terms of military strategy, Greyfax outsmarting Coteaz or Eisenhorn etc. I say that because it would follow the exact same pattern that Rings of Power and Wheel of Time did. Frankly if that show dies, it'll be a blessing. I'd rather not throw 40K on the same pile as LOTR, Wheel of Time, The Witcher etc.

[@MightyGachiman]

​@@Bonesawisready926infinity and conquest havemore inspired and interesting models?😂 Damn let's not be delulu here, infinity is the most cookie cutter same-y garbage that exists.

[@Bonesawisready926]

@@MightyGachiman That still leaves Conquest, and the Wahdrun alone are more imaginative than anything GW has created in the last couple of years, at least for 40K. They put the A team for models on AOS at least. Hope I can find STLs of all the new models.

[@danielmartens6369]

Okay genuine question: Would them lowering prices so they sell more models actually balance out to them making more money?

[@GeneralAdvance]

Doubtful, models take the time of their customers and GW has balanced it's prices according to that for a long time. Almost noone can buy a box of minis consistently and actually build, paint and play with it on a weekly basis. People will buy a box a month at twice the price over two at half.

[@DERADI30]

As the report said: they have produced more models then ever with the same factory, and they still have vast stock shortages regularly. Massively scaling up production is always risky. If the market crashes you can lay of designers and marketers, but shutting down a factory will lose you a lot of money. The downsides of the current strategy (to them) is that they lose some good will from the customers and they leave a lot of demand for competitors to capitalize on. Both of these are mitigated by the strength of their IP.

[@TheOneIng]

Probably not. Most people can buy more minis than they have time to paint.

[@zentonil]

Potentially, but they’ve obviously done that analysis themselves

[@WilhelmScreamer]

No because it impacts future buying habbits. It would reduce the percieved value going forwards.

[@realllybadgaming9216]

GW looking at what the average person can afford : "Okay, so if we made 3 models cost $100, how many could we sell before the whales stop?" Also, Day 4005 of waiting for a Space Marine buff

[@canceledlogic7656]

Checking in on the recent meta game in brand diversification and bond investing strategies

[@benjaminrogers8875]

I'm a little surprised as the numbers seem lower than they should be. I figured at least £1M per store, and they're not far exceeding that.

[@DominatorLegend]

Looks like you really can not only survive, but thrive on catering to middle aged men with little to no impulse control.

[@Daemonik]

They're a highly desired demographic for selling unnecessary tat to. Cross reference gambling. many video games, sports merch, PPV and tickets, a million-and-one things "scientifically proven" to make you more attractive, cars, porn, inappropriate clothing.. that's just the ones I can be bothered to type out

[@Bonesawisready926]

Or they just have disposable income. But hey, hate your fellow fans if yiou please.

[@alexcunningham5360]

Tennessee mentioned! 🎉

[@jenniferjeransky1352]

I’ve stopped buying from GW. The prices have reached an absurd level. 3d print and proxy.

[@cenomnestpasvalide2201]

So, i'm not an expert on company financial reports, but doesn't 200 million profits over 500 million revenu sound huge ? That means their general investment over the year is about 300 million, so a return on investment of about 1,67£ per 1£ invested. I don't have anything to compare it to, but it definitely feels like that's a lot.

[@gutzyzz1302]

Im just so glad to have enough armies and miniatures right now and for my new plastic crack cravings to be satable by my 3d printer i got this year , when i want something new i just print some more minis for my d&d campaign or just to paint etc. im kind of done with buying GWs ludicrous prices to be honest.

[@zerophyx7902]

Same. I don't buy GW minis anymore at their crazy prices. 3D printing works really well and I recommend it for all!

[@Bonesawisready926]

Agreed. Frankly companies like Corvus Belli and Para Bellum are making more inspired and interesting models than them anyways. Imperial Agents and the new Sanguinary Guard really was GW saying "we don't care anymore, eat the slop pay pig".

[@niccolomiglio6996]

Yeah, after this recent bs I just outright stopped: it ain't worth it and I just feel like shit knowing I wasted money on this bs

[@niccolomiglio6996]

@Bonesawisready926 Imperial Agents are really nice looking and pretty unique models.... until you realise they are just old sculpts they just pulled put of a dusty bin. Do we wanna compare them to, to name one, the City States?

[@AndrewReddyMusic]

I'm based in NZ and I buy 80% of my stuff from recasters. Gluing resin is a pain but the finished product is essentially identical. I single box of minis from GW costs more than a weeks rent+groceries for me

[@kutkuknight]

Curious, their profits are increasing and yet they provide shittier customer support, bad codex managment and ever more expensive minis hmmmm

[@turnt_barbarian]

I only login to the mywarhammer account because it redirects me to the login page whenever I want to look at box art for models

[@merlyn5755]

The Price increases are going to point where it starts to harm their bottom line as the hobby continues to become unaffordable for new players. Not that I think we’ll see this happen immediately but I wouldn’t be surprised if we see a slow decline start to appear over the next couple of years

[@lordlynkz]

I bought 2 land raider redeemer/ crusaders in the past year... that's clearly why they are doing so well.

[@lordlynkz]

They were promptly nerfed after my purchase as to be expected...

[@Bonesawisready926]

Redeemer is still worth taking.

[@lordlynkz]

@@Bonesawisready926 Damn right it is lol.

[@RedFox_05]

Not to mention 10e release last year contributing the boost I think also. Though their recent media mixed have contributed a lot to direct profit for GW mostly I feel. Anyway I hope this will indicate that they will try to cater more for their actual customers instead of meta focused selling dump practices... care and sell for the fans! Not for short stoppers. 😢

[@shredsofa5841]

I think the big takeaway here should be...every time you buy GW minis, buy the equivalent in stock too. Surely their price will go up with the Amazon deal, new editions, more worldwide players etc?

[@Bonesawisready926]

Unless the Amazon show is shit, which is looking more and more likely. Look what they did to Wheel of Time and LOTR.

[@TheOneIng]

For every wheel of time there is the boys, for every rings of power there's fallout.. Coin flip depending on material and production

[@gnignagninovalzano3539]

Is there something Auspex doesn't cover?

[@DartmoorAR]

…umm… the Warhammer kink scene?…

[@matjov]

Yeah, everything non-Warhammer.

[@WilhelmScreamer]

He cpuld do more to cover the broader warhammer space, or at least 40k play outside of the nice data driven tournament environment.

[@bvshmaster6990]

So that’s why my local GW store has absolute trash hours

[@11AleZZ]

GW have record sales every year, but most guys i know in the hobby if not all them , buy less and less each year, also i see less new people in the hobby each year, so i dont know from where came this "sales", i know that my experience is a drop of water in the ocean, but its a pretty strange situation

[@Gwyndon]

Awesome video idea thanks for sharing

[@bmwofboganville456]

I bought GW shares because of the IP. 40k will break through to the general public within a decade. The lore started as a way to sell miniatures but on its own terms is now valuable.

[@joesheridan9451]

Shame it gets worse each year. It’s now a bunch of talentless hacks riding the coattails of those that originally wrote the lore and fleshed out the setting

[@jeancouscous]

@@joesheridan9451 This I agree, the foundations of 40k and the golden era really paved the way to the success of today

[@Bonesawisready926]

The problem is that the first real mainstream exposure is going to be through Amazon, who produce almost nothing but garbage.

[@Bonesawisready926]

@@joesheridan9451 This could apply to all entertainment these days.

[@therealgingerwhippet]

Don't forget - our costs have gone down so our costs need to increase.

[@icklemoo]

I’d like to know how much money the old world is going for them interns of expectation and actual sales /. Perhaps it too soon though as it’s a very new game system

[@blckbirdoftrees6218]

Holy fucking shit. That's a lot of profit.

[@kingoglow2186]

They need to add more value to subscribing the their app in order for me to subscribe.

[@SpamRage]

Great profits, better raise prices by 15%

[@JohnBliss-w1k]

From $37K to $65K that's the minimum range of profit return every month I think it's not a bad one for me, now I have enough to pay bills and take care of my family.

[@JeremyRenner-u6i]

Wow that's huge, how do you make that much monthly? I'm 37 and have been looking for ways to be successful, please how??

[@JohnBliss-w1k]

She is Expert Lucille Friedman

[@ColeHauser-u2u]

YES!!! That's exactly her name (Lucille Friedman) so many people have recommended highly about her and am just starting with her 😊from Brisbane Australia 🇦🇺

[@SusanneM.Calderon]

Spot-on, I would always rate her signals as one of the best ever used 100% accurate.

[@Jim-s4i]

Her name rings a bell; I've encountered it multiple times, usually associated with stories of her trading achievements. She deserves a lot of credit.

[@maugetar9340]

Prices are too high - in particular to get new players. Ps.: 22% of all sales inside the UK is a crazy high.

[@mrspeigel3593]

GW revenue started going tbrough the roof when they raised prices by 20% and moved to 2 sprues a box instead of 3. Cut your matreial cost by 30% and your prices raised by 20%= 50% profit increase Getting away with it = priceless

[@JustinBrown-gh9vv]

They've only really boomed in the last four years. Relatively young success, so hard to tell which way they'll go. Definitely an unsustainable growth rate long-term. But at the moment they're massively profiting from the situation.

[@jessicalacasse6205]

you riding disney money... ask lucas art how i ended lmfao

[@staticgrass]

The price increases will continue so long as we keep paying.

[@kristoffernordlund8392]

Subbed so i could get the inquisitor nothing else, the other stuff in there is ok, though most stuff in there feels either outdated or lacking. and to get that inquisitor on the second hand market will probably be more expensive or tedious to get hold of then just subbing for a year.

[@JamesPHewitt]

Amazon producing a Lord of the Rings show told us all we needed to know about how that will go.

[@chetmanley1885]

But also the Boys and Fallout. Rings of Power's problems isn't Amazon specifically it's that it's bad fan fiction and someone's cooking the books with those cheap looking costumes and sets.

[@JamesPHewitt]

@@chetmanley1885 You’re more optimistic than me!

[@Bonesawisready926]

Thank you! I've been saying that since they signed the deal with Amazon. I have absolutely no hope in Amazon. The only good shows they have are Jack Ryan, The Terminal List, and Reacher. All of those were independent productions that got sold to Amazon. If Amazon is involved on the creative end, that show is DOA.

[@Bonesawisready926]

@@chetmanley1885 Boys S4 is abominable, honestly I only liked season one and Fallout was horribly written.

[@praetoraaron2966]

There is a solution we collectively buy the company take it private and say no to price gouging.

[@Bonesawisready926]

The Market cap is 3 Billion, Elon Musk could buy it in an afternoon. Collectively we'd have to come up with probably around 4.5 billion to get shareholders to agree to a buyout.

[@slobiden.2593]

I’m more curious about their next stemmed, especially after the success of Space Marine 2. It not only sold well, but tapped into a neglected market…..male gamers. By that I mean just being unapologetic in its masculinity. Made me remember games like the OG Gears of War and Need for speed most wanted.

[@Malllttt]

What a snowflake Jesus Christ. Imagine needing a video game to make you feel masculine.

[@Bonesawisready926]

@@Malllttt That's not what he said at all, but okay.

[@Bonesawisready926]

Same thing with Black Myth: Wukong. Just let dudes be dudes and they'll print money. Star Wars should have proved that some IPs will ALWAYS be male-dominated no matter how much the IP owners hate that.

[@KaratePath]

The Licensing revenue seems awfully low tho .... I think/hope SM2 isnt there ....

[@WilhelmScreamer]

The report goes up to jully 2024

[@Bonesawisready926]

The game hasn't even been out for a month, how would they have even monthly earnings reports when the game hasn't been out for a month?

[@Therockypony]

Big profits but still pay most of their workers shit wage.

[@rottenpotato9290]

I say for like 3 months we dont buy a single thing from them