2024 has been a mix of good and bad news for Thunderful Group, with the good news first: Bergsala, a part of the group, will be Nintendo’s distributor for the Baltic region for another 2 years. The arraignment between the two goes back to 1981, and with this latest extension, nothing has changed between the two companies.
Thunderful Group relies on the income from distributing Nintendo products, which is, unfortunately, where the bad news comes in. With declining Nintendo Switch sales and a softening of the market, Thunderful Group posted a loss of $59.2 million for 2023. This is in stark contrast to the $11.8 million reported for the prior year.
The sudden downturn resulted in the announcement that 20% of Thunderful’s employees would be laid off. Despite the reduction in profits, CEO Martin Walfsiz stated that they are “looking forward to the launch of Nintendo’s new console.”
In addition, Walfsiz praised the strength of the partnership between the two companies, “Thunderful’s unique relationship with Nintendo stretches back to the early 1980s when our subsidiary Bergsala started distributing Nintendo’s fantastic products to consumers across the Nordics and the Baltics. We’re exceedingly proud of this long-lasting partnership and look forward to many years of continued close collaboration with Nintendo.”
Thunderful Group at least ended 2023 on a high note, with the games division posting record numbers in Q3 2023 on the back of Steamworld Build, the latest in the long-running Steamworld franchise. While a success, sales failed to meet the company’s expectations, with Walfsiz laying blame at the feet of the developer, The Station, for, again, swapping genres and potentially alienating previous fans.
By cutting costs heading into 2024 and maintaining the Nintendo distribution deal through the launch of the next Switch console, Thunderful Group has set itself up for success.
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- Source: https://wholesgame.com/news/thunderful-continues-distribution-of-nintendo-products/
