After recording a very good third quarter for 2024, Cloud Imperium Games' revenue from the sales from its online cash shop came in at $9.2 million according to the CCU Game dashboard. While the second highest sales month so far in 2024, the figure represents a 36.9% year-over-year decline from last October's total of $14.6 million in sales. For the year, the company's sales revenue is down by slightly more than $3 million, a 3.7% year-over-year decrease over the $80.7 million recorded in the first 10 months of 2023.
For those who keep track of new accounts (aka "new citizens"), October's 31,204 was 3.9% less than the total of 32,479 in October 2023. For the year, new account creation is down 29.8% for the ten seven months of 2024 compared to the same period in 2023.
Overall, the recorded sales tracked on the CCU Game dashboard is $735.1 million since the launch of the Kickstarter in October 2012. But Cloud Imperium has additional funding sources not tracked by the dashboard. Overall, the company has recorded $833.7 million in confirmed revenue (the funding page & the 2022 financial report).
- Sales/Pledges: $735.1 million (through 31 October 2024)
- Subscriptions: $33.0 million (through 31 December 2022)
- All other sources: $65.6 million (through 31 December 2022)
In addition, the company has received a total of $63.25 million in outside investment. According to the 2022 financial report, $4.8 million of the amount was returned to investors in 2020. Including the outside investment money, the total amount raised by CIG to create Squadron 42 and Star Citizen is $897 million, or $892.2 million when excluding the returned funds.
October's stunning year-over-year sales decline does not necessarily represent a huge drop in interest in the game itself. I expected a drop-off, especially after seeing CIG not repeat a big ship sale in the middle of the month. On 10 October 2023, CIG made the Drake Vulture the subscribers' ship of the month and apparently the promotion was very popular. At least, the beginning of the offer coincided with a big jump in cash shop revenue. One not matched in October 2024.
For me, November is now a critical month financially. CIG's cash shop revenue has not declined year-over-year since 2017. Over the previous six years, the median year-over-year sales increase for November was 25.4%. If CIG repeats that type of performance in November, the sales total will exceed $120 million. If the sales increase is only 19%, the company can match last year's total of $117.6 million. And if revenue can't keep up with 2023's aggressive sales and marketing plan for a second consecutive month? I think the internet will hear a lot of "the game is dying" from beyond Star Citizen's critics.
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