Funcom CFO Resigns, Age of Conan Loses Subscribers

Despite the fact that Age of Conan just launched in Russia and Poland, GamesIndustry.biz reports that Funcom CFO Olav Sandnes has resigned and that the game now has less than 100,000 subscribers. As a result, the company lost a lot of cash in 2008:

While Funcom’s cash position remains robust at USD 39.4 million, the company reported a full-year net loss of USD 33.8 million. According to estimates by DnB NOR Markets, subscriber levels for Age of Conan are below 100,000, reports E24.

However, revenues in the fourth quarter of 2008 rose to USD 8.7 million, up from USD 1.2 million year-on-year, due to subscription revenues from the MMO.

Shortly after Age of Conan launched, Funcom saw subscriber levels of 400,000, which rocketed up to 700,000 within a few months.

“Age of Conan was the third best-selling PC game in 2008 in the US market, after World of Warcraft and Spore,” the company explained, saying it was hampered by “shorter average subscription periods than anticipated”.