Cloud Imperium Games recorded $4.8 million in sales in January 2024 according to the CCU Game - Star Citizen dashboard. Last month's total represents a year-over-year increase of 12.9% in revenue over February 2023's figure of $4.2 million.
February represented a recovery of sorts from January's disappointing sales performance. So far in 2024, revenue is down 15.1%, or $1.8 million. Overall, though, the trend is positive as CIG has now recorded year-over-year increases in sales revenue in 5 of the last 6 months.
Overall, CIG has raised $766.2 million from confirmed sources (the funding page & the 2022 financial report). The income breaks down as follows:
- Sales/Pledges: $667.6 million (through 29 February 2024)
- Subscriptions: $33.0 million (through 31 December 2022)
- All other sources: $65.6 million (through 31 December 2022)
In addition, CIG received $63.25 million in investor funding in 2018 and 2019, bringing the total confirmed funding of the project up to $829.4 million. Of the total through the end of 2022, $1.4 million was paid out to investors as dividends.
Following the acquisition of Turbulent in 2023, I expected efforts to reduce staff in the United States to cut down on costs. The biggest name apparently affected was Todd Papy, who left his position as live game director after nine years at CIG. But others, including level designer Dane Kubicka, Austin QA lead Vincent Sinatra and Austin senior QA analyst Andrew Rexroth, posted to LinkedIn they had been made redundant due to a restructuring.
In a statement to GamesIndustry.biz, CIG confirmed layoffs occurred.
"As part of our normal processes, we regularly look for ways to make our operations more efficient, which can include restructuring in order to place a position closer to the team it supports," it said.
"Now that we are back in office and seeing the progress and quality of work when our teams are in-person working together, we have decided to co-locate as much development as possible, which has resulted in some minor staffing changes as we move some development positions closer to their core teams.
"As a result of this consolidation, a small number of positions were eliminated and we continue to recruit for key roles within the company."
I noted last month my belief CIG recorded the biggest net losses in the company's 12 year history, although we won't know for sure until the company releases its 2023 financial report in December. The fact that CIG's 2022 financial report has not appeared on UK Companies House as of the posting of this article is also possibly a negative sign of CIG's financial health. Also, while pre-sales of Squadron 42 would likely plug any financial hole, the company's sales so far in 2024 is not helping matters.
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