Games Workshop Share Discussion Threads

[cockerhoop] 25/12/2020 12:19

1rcl,I'd being working down the same line of thought and actually contacted GW to ask where the App revenue would be recorded. It will be through the Online channel so will be pretty hard to quantify unless the company disclose numbers of subscribers which I think is unlikely. Especially since conventional online must have had a great H1.Now a beta version of BattleForge is available the App looks a more realistic revenue source. Heavily marketed with the Dream Army competition and free month it could supply some decent profit in H2. Due to Covid I've not been really able to gauge the popularity of the App at the local store so not sure on the take up

[cockerhoop] 25/12/2020 12:05

Bisho,I read it as only being fortnightly new releases for January and February.

[bisho4] 25/12/2020 11:55

Is Covid catching up to GW?

hxxps://www.warhammer-community.com/2020/12/23/an-update-on-warhammer-releases-in-2021/

New releases to be fortnightly instead of weekly for the foreseeable future.

As a 40k enthusiast, I like this because the release schedule has been so hectic over the last few years it is tough to keep up! But as a shareholder, this might translate into the first growth slow-down of the Rowntree era?

(in no way the fault of the brilliant Rowntree stewardship, I should hasten to add).

[1rcl] 23/12/2020 21:13

I've been thinking about the much higher margins that GAW has been getting in Q1 and Q2.

I appreciate the various factors that have been talked about here will definitely have contributed to this (higher GAW online store sales, restricted supplies to lower margin independents, operational gearing, etc).

But I've been wondering if the Warhammer 40K App has contributed significantly in Q1 and Q2. It costs nearly £48 per year to subscribe - so 100,000 subscribers would add nearly £5m of annual revenue (I would think the development costs would be largely fixed regardless of the number of subscribers, so any subscription income above the development costs would be additional profit).

The problem is I have no idea what subscriber numbers the company is getting (the app has had >100k downloads from Google Play store - but that doesn't mean they've subscribed). On the one hand, the app seems to have a lot of shortcomings - but on the other, many of GAW's customers are very willing to give them money.

It just struck me that the extreme margin increase has coincided with a very strong marketing push from GAW on their subscription app - so I wondered if it had contributed.

Any thoughts?

[1rcl] 23/12/2020 12:56

New job adding to the team based in Shanghai:

hxxps://jobs.games-workshop.com/search-and-apply/new-business-developer-china.

"You will be responsible for making sure every new business you open is prepared for a long lasting relationship with Games Workshop"

[woland1] 23/12/2020 12:50

Presents for the presents god. Merry Christmas to you Bisho4. My boys are a bit too young at the moment but gave my 5 year old a second hand white dwarf to look at and he was fascinated. I just need him to be my cover to start buying some 40k miniatures again.

[sogoesit] 23/12/2020 12:42

Good to see that support bisho4 and thanks for the well wishes.

I'm afraid I'm at an age where my shaking hands don't manage to paint miniature figures but I do remember painting soldiers as a kid.
Problem is I'm not sure the shakes is due to age... it may just be alcohol related but I will find out at Christmas for sure ;-))

Happy Festive Christmas!

[shanklin] 23/12/2020 10:26

Well done bisho4

Keep up the good work :-)

[bisho4] 23/12/2020 09:23

Merry Christmas to all GAW LTHs!

I don't know how many shareholders are also GW customers, but for those who are interested, it's going to be a very Warhammer Christmas again round mine. Under the Christmas tree will be Abaddon, A Knight Azyros, a box of Squigs, the new Direchasm Underworlds box set, Zarbag's Gitz and a Loon Boss. And a 40k calendar.

Here's wishing you all a Nurgle-free 2021.

[nod] 23/12/2020 05:15

A Santa rally. December has been a good month for GAW

[tomps2] 21/12/2020 09:55

Leon Boros mentions GAW in his piworld 2020 round up:

Video:

Podcast:

[nod] 17/12/2020 21:30

re Nick Train's search for "sticky content". Warhammer is definitely a 'sticky product'. What other manufacturers make sticky products that have endured and grown over the past decade? Apple, for one ...

[bisho4] 17/12/2020 13:47

A big II taking a bit of profit and reducing their holding.

It would explain the recent price action being a bit sluggish, but now they've cleared, the share price can continue its rise :)

[robinnicolson] 17/12/2020 12:17

Nick Train writing in the Finsbury Growth & Income Trust 2020 Annual Report:

"The world will never be bored of being informed or entertained.

As to entertainment, I admit it has proven harder for us to find successful exemplars in the UK. I do look at the incredible share price gains of Games Workshop and kick myself - because we don't own it; and that despite one of my younger colleagues recommending it a few years ago. Sometimes it is the errors of omission - what you didn't do but should've - that are most galling. Anyway, we still look for its sort of 'sticky content' that can fix attention, preferably of millions of people."

Thought that GAW seemed to be the type of business that would appeal to them. Still not too late to jump aboard IMO...still plenty of white space on the map for GAW to expand into.

[cockerhoop] 17/12/2020 08:27

Aberdeen went from 6.33% to 5.01 briefly dipping below 5%.

[red5] 17/12/2020 08:13

what does this latest annpuncement mean.

[melton john] 16/12/2020 14:02

best go to the message button at the top and send a private message. Not restricted to blues anymore.

[bisho4] 14/12/2020 13:36

The Mello investor event is a legitimate event :)

Davidosh is posting this here because it relates to GAW and some PIs might be interested in attending.

[davidosh] 14/12/2020 01:37

Just to mention that the Xmas MelloMonday special guest may mention Games Workshop and I think shareholders and potential investors will appreciate his thoughts. There is an interview tonight with Keith Ashworth Lord who is a highly respected fund manager and well worth listening to. Keith's fund Castlefield are of course one of the largest shareholders in Games Workshop and I think GAW is their largest position.

The Mello Monday event starts at 6pm
The full programme is available on the website.Also of interest may be the MelloBASH... The analysts, fund manager and well known investors on the panel will give their honest verdicts on whether four companies are a Buy Avoid Sell or Hold at this current juncture in the markets.



All investors welcome and if you use the code MMTADVFN50 you will get a half price ticket. Great investor content and entertainment. We had nearly 400 investors attend last month so these are very popular.

[cockerhoop] 11/12/2020 22:21

Battleforces were in limited supply to the independents at 50 per Battleforce so I believe many did limit to 1 of each battleforce per customer. The speed they sold out at GW suggests a restock would be well received.

Warcry (last weekend preorder) was even further restricted to independents but plenty of supply at GW online all week so the picture appears to be constantly changing but my suspicion is that GW online has had an unprecedented H1 (margins make no sense otherwise)

[1rcl] 11/12/2020 21:48

Re: speed of Battleforce vs Bloodbowl sales:

I noticed that GAW limited Bloodbowl order quantities on their webstore to 1 per customer order - but I don't think there was any such restriction for the Battleforce sets.

I assume the GAW logic is that customers can 'legitimately' use multiple Battleforce sets to build very large armies, whereas there is no reason to own multiple Bloodbowl sets other than to resell at a profit if supplies run out.

Whatever the reason, business seems to continue to boom.