Parthvader- is it so hard to believe that people who still buy do so because they look at the products and decide its worth it at the price asked, or are you the sole arbiter of value for us all? Frankly were buying bits of plastic that make little sculptures, many would argue that at any price that's 'flushing money down the toilet'- its hardly a utilitarian use for it is it?
Maulerfiends are on the loose, Maulerfiends are go;
Mauler, Mauler, Mauler, Maulerfiends!
I imagine so. If not, here's re-royalty profit for 2011 & 2012:Originally Posted by The bearded one
2011: 12.8 million pounds
2012: 15.6 million pounds
2011 Source
For purposes of year to year for growth/shrinkage of volume, the numbers for profits are useless.
This is what I meant (tried to be as clear as possible in my post - but rereading it it isn't quite as crystal as I could have made it). I am in agreement with your conclusions - I just hadn't done the hard math to see what the actual numbers would be yet. I know that that would be a straw which would be used to as evidence of accounting malpractice though for those who view the report in a different light.
RE: Sales Volume increase:
Ie, they had 3.2M in revenue *above GW price inflation* from about half of GW stores. Alternatively, half of GW stores did not increase sales above price inflation. (assuming 1 manager = 1 store).
I just accepted their restated numbers and used them. I gave them the benefit of the doubt. Though wasn't it royalties that were restated, which I immediately subtracted out?
It's based on their restated earnings, their restated royalties and inflation data provided by the Bank of England (2.84% as off June 2012).
It is, however, missing taking out Black Library. I know Forgeworld is kicking ass, but that belongs in the calculation. How much Black Library belongs is a matter of debate, so I didn't worry about removing it.
Back this up if you're going to state it.Each year the critics say GW is falling. One year they will be right. As it's inevitable, because everything ends.. Anyway this year they are again wrong. Next year they can try again.
Almost everyone has been saying that they expect revenue to be flat-- slightly up, slightly down, whatever, and then declining unit sales and a shrinking customer base. This oculd theoretically go on for years and years. Where has anyone predicted anything immenent?
Last edited by t-tauri; 01-08-2012 at 07:41. Reason: Double post-please use the edit button.
Remember to take the time to enjoy your hobby. If GW isn't doing it anymore for you, look elsewhere. There are lots of great miniature games out there now.
In all fairness, I think 'removing' items is distorting the picture to fit your own views (though my views are the same as yours). Black Library and Forgeworld (and Warhammer Forge) are doing very well for GW. Good on them! They're GW business lines.
It is interesting to note how much of their increased revenue came through BL/FW, but removing it seems a bit biased.
I kept it in.
The only reason I removed royalties is that they don't really tell us anything about what revenue is coming from GW's core business of making miniatures.
I can't see how removing video game revenue so you can get a better picture of the miniatures side of things is in any way biased.
GW is making money and paying a larger dividend than before. They'll likely continue to do this for a few years. I don't see how pointing out that their after-inflation growth is not as impressive as they make it out to be when they toot their own horn is "biased".
Remember to take the time to enjoy your hobby. If GW isn't doing it anymore for you, look elsewhere. There are lots of great miniature games out there now.
Sure, but that wasn't his question.
Cheers to all for breaking down the data.
What I find interesting is there wasn't as a dramatic downturn in UK numbers to account for embargoed countries sales going offshore to their local regions. Any more educated thoughts behind that, particularly in relation to Aus?
Since those sales would be at wholesale discounts the base impact on revenue would be less significant to the financial report. I am not really all that certain how much volume was moving from the UK to Australia though, so what we are seeing might be all that there was there. A few hundred thousand pounds worth of goods at wholesale wouldn't nudge the numbers too much, however you would definitely hear a lot of noise when those goods are cut off from their customers.
Important to note that the average price increase for 2011/12 was 4.1%, not the 10 or 15 I've seen bandied about in this thread already. Yes, if you average what products went up it comes in at 13%, but you're not factoring in everything else that didnt go up in price, so to say GW raised their prices by 10-15% last year is false.
I only had a 4% rise in the price I sold GW stock for and up to this year I sold everything at rrp.
One could argue that the vocal majority on the internet forums that buy overseas are infact a tiny percentage of Australias customer base and thus the embargo had very little effect. What is a bit worrying is the cost of running stores in Australia soaring due to their economy going through the roof.
Last edited by Mastodon; 01-08-2012 at 06:07.
I imagine that figure will grow this year as well, with FW getting more mainstream
Watching Tour de France in Australia = No sleep
One thing from that report I find very interesting.
Being that I have several friends that work for GW in their 'trainee manager scheme', the report states that every member of staff received a £475 profit share bonus. Not one of them got that, so I dont know who did.
"Volume growth" = sales units, if it was £ it would be "revenue growth".
My Hobby Blog!
My Painting & Modelling Blog!
Gallery
"The Emperor is obviously not a dictator, he's a couch."
Starbuck: "Why can't we use the starboard launch bays?"
Engineer: "Because it's a gift shop!"
Are you buying different codices to me? Because the background has been almost uniformly shallow pulpy UBERLEET!! since the 5th ed space marine codex. Changes for no reason, resurrecting characters from the dead, uberifying characters to silly levels (taken to its illogical extreme in draigo). I'd still be buying GW miniatures if their background hadn't fallen so far, damn the prices. But why would I want to when GW ignores half its armies in favour of the other half, and does everything they can to make that favoured half look better than the other.
Hellebore
"Humanity's Insignificance pales in comparison to its Ego." (Sir Rumplestiltskin)
"The capacity to think does not assign importance to your thoughts, it merely indicates you can." (Sir Rumplestiltskin)
A number of posts removed. Please post without resorting to offensive language or simple trolling.
"The Lost- they return?"
"Aye, my Lord. For good or ill, the were-kin shall once more stalk the domains of Man."
Please read the posting guidelines. Really.
RIP Jon Wilson/Brimstone. 1967-2009
If you can please donate to Jon's Gift of Hope Fund in aid of the British Heart Foundation
Still on the back burner - but a cursory examination of the 2011 price increase shows that you are correct...but irrelevant. The question isn't so much what the average price increase is, but what the average price increase is on certain items. For example, the entire line of paints and hobby tools had no change in price. This large segment of stock numbers will hold down the overall average, but is largely irrelevant in judging the health of the market. Since many users by other products to fill those roles - or use paints and tools of friends and stores, they have a less significant impact. However if you look at the prices of core items (rule books, troops choices, vehicles, starter sets...) those prices went up substantially.
Given the target market (new, younger players) these items will form a larger portion of their sales than the smaller items which had little or no increase which will more often be sold to maintain the hobby for veteran players. Other items didn't have a price increase since they were relatively new and were released with the new - higher price target (Isle of Blood had no increase, but was already priced at the $99 level which they bumped Assault on Black Reach up to).
If each pot of paint is one "unit" for those calculations and they touted massive paint sales, then that doesn't really tell us anything about how well miniature sales volume is doing.
Stores that sell their paint bought racks full of tiny pots of paint as a one time purchase to stock the paint range (in whole or in part). Then they buy individual pots to restock as needed.
The real issue is that the items that people buy to actually play the game (starters, codecies, squad boxes, vehicles, etc.,) had big price increases such that the current revenue doesn't support the claim that volume of that stuff went up.
Less players to form gaming communities this year than last. Less next year than this year, unless you cound LOTR players increasing from the Hobbit movies, but that won't help someone looking for a 40k opponent.
Remember to take the time to enjoy your hobby. If GW isn't doing it anymore for you, look elsewhere. There are lots of great miniature games out there now.
This is only one idea. I buy very little now (update my armies gw you know you want to) but i am still very much a player looking for games. People don't need to buy the same volume year on year to be available. All that falling volume shows is people buy less- it might man less people buying the same amount, more people buying much smaller amounts or somewhere in between. We shouldnt assume less players due to smaller volume of sales automatically
Maulerfiends are on the loose, Maulerfiends are go;
Mauler, Mauler, Mauler, Maulerfiends!
Posting Permissions
Reply With Quote
t-tauri