Over the weekend, we learnt that Motorsport Games is delaying its much-anticipated Indycar game further. No longer releasing in 2023, those looking forward to the title are not happy.
Image Credit: Studio 397
It has become a running gag that Motorsport Games is yet to release a game fully developed under its own control. And it is even further from creating a successful simracing title.
Well over the weekend, we found out that the studio is not going to release a good simracing title for at least another year. During an investor call on Friday focusing on earning in Q4 of 2022, the management team announced that the much-anticipated Indycar game won't be releasing in 2023.
A snippet of the call posted to Twitter sees Dmitry Kozko, Chief Executive Officer of Motorsport Games, about the current state of the game. Despite "making strides" in the game's development efforts, the team believes it "will not be in a satisfactory position to release to the community this year."
Following the news, Indycar iteself responded to Racer Magazine stating: “We are evaluating this information and remain thoroughly committed to bringing the best quality video game products to the INDYCAR community.”
This particular title, along with the previously delayed BTCC game, was set for a 2022 release and has been delayed several times since its announcement. From financial struggles to the invasion of Ukraine, countless setbacks have befallen the Motorsport Games development team.
However, the main blockade on this game's path to release is the health of its studio. At the same time as setting up a call with investors detailing the good, the bad and the ugly, Motorsport Games released their Full Year 2022 Financial Results. Going over the company's fourth quarter and full year accounts, there is one glaring issue that could spell disaster for not just the Indycar racing game.
Scroll down past the good news of DLC packs released for rFactor 2 and improvements to NASCAR 21: Ignition. Skip over the bad news of a more-than-four-million-dollar net loss in Q4 of 2022 alone. And you'll arrive at the announcement that a total 2022 revenue of $10.3 million led to net losses in excess of $36 million.
Given the studio doesn't have a successful and current title to rely on, Motorsport Games is in a difficult situation. Negative cash-flow means they are spending more money than they can make. To top off the bad news for Indycar, BTCC, Le Mans Virtual and NASCAR fans, the financial document states the company currently holds around $6 million in cash. The company goes on to mention that "we do not believe we have sufficient cash on hand to fund our operations for the remainder of 2023" and that further investment is needed.
Last year, we reported on the news that MSG lost its entire board of directors. Around the same time, employees of the company were threatening to leak source code for unreleased games due to unpaid salaries. Based on this latest development, will we be seeing more stories along these lines in 2023?
Do you think we will ever see a Motorsport Games Indycar title release?
Image Credit: Studio 397
It has become a running gag that Motorsport Games is yet to release a game fully developed under its own control. And it is even further from creating a successful simracing title.
Well over the weekend, we found out that the studio is not going to release a good simracing title for at least another year. During an investor call on Friday focusing on earning in Q4 of 2022, the management team announced that the much-anticipated Indycar game won't be releasing in 2023.
A snippet of the call posted to Twitter sees Dmitry Kozko, Chief Executive Officer of Motorsport Games, about the current state of the game. Despite "making strides" in the game's development efforts, the team believes it "will not be in a satisfactory position to release to the community this year."
Following the news, Indycar iteself responded to Racer Magazine stating: “We are evaluating this information and remain thoroughly committed to bringing the best quality video game products to the INDYCAR community.”
Will the Indycar game ever release?
Whilst Motorsport Games said the Indycar game is well along in its development and will be ready for 2024, can we really be sure?This particular title, along with the previously delayed BTCC game, was set for a 2022 release and has been delayed several times since its announcement. From financial struggles to the invasion of Ukraine, countless setbacks have befallen the Motorsport Games development team.
However, the main blockade on this game's path to release is the health of its studio. At the same time as setting up a call with investors detailing the good, the bad and the ugly, Motorsport Games released their Full Year 2022 Financial Results. Going over the company's fourth quarter and full year accounts, there is one glaring issue that could spell disaster for not just the Indycar racing game.
Scroll down past the good news of DLC packs released for rFactor 2 and improvements to NASCAR 21: Ignition. Skip over the bad news of a more-than-four-million-dollar net loss in Q4 of 2022 alone. And you'll arrive at the announcement that a total 2022 revenue of $10.3 million led to net losses in excess of $36 million.
Given the studio doesn't have a successful and current title to rely on, Motorsport Games is in a difficult situation. Negative cash-flow means they are spending more money than they can make. To top off the bad news for Indycar, BTCC, Le Mans Virtual and NASCAR fans, the financial document states the company currently holds around $6 million in cash. The company goes on to mention that "we do not believe we have sufficient cash on hand to fund our operations for the remainder of 2023" and that further investment is needed.
Last year, we reported on the news that MSG lost its entire board of directors. Around the same time, employees of the company were threatening to leak source code for unreleased games due to unpaid salaries. Based on this latest development, will we be seeing more stories along these lines in 2023?
Do you think we will ever see a Motorsport Games Indycar title release?
