Games Workshop Annual General Meeting recap (from Reddit)

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**yakface**

The original thread started on this topic had to be closed as it veered waaay off-topic. Here it is for reference if you're into that kind of thing:

https://www.dakkadakka.com/dakkaforum/posts/list/0/740346.page

Please do not continue any of the existing OT discussions from that last thread into this one. If choose to do so, your account will suffer disciplinary action.

Thanks!

Here's the original post from the last thread:

animal310 wrote:The following was posted by BenV94 at the following link. It is information from the recent GW AGM.

https://www.reddit.com/r/Warhammer40k/comments/704rud/games_workshop_agm_according_to_person_who/?st=j7vyoozo&sh=d9f730a3

Performance: sales are up across the board - in every sector, every range, and every month
all the charts are pointing in the right direction
surplus cash will be returned to shareholders as dividends

Strategy: they've recruited so that they now have separate design teams for 40k, AoS and specialist games
this is to allow them to release something for each of those lines on a regular basis, monthly at least if not faster they want there to constantly be something new for players to buy rather than them waiting for months on end keeping a constant monthly cashflow and sales improvement is important to them, it's not about a few big releases a year
efforts are being made to reduce the price point and make joining the game easier, thus the range of price points for 8th (from £5 magazine with single figure up to £95 boxed set)
target areas for new stores are North America and Asia
trade (FLGSs) is more profitable than retail (GW stores), but the latter is more important for recruitment. They intend to do more to support both
they want to bring more women into the hobby, but don't want to alienate the existing playerbase while doing so, it is something they're aware of (but no details as yet)
prices aren't dropping any time soon
production is pushing up against maximum capacity, they're going to be investing a fair bit in new injection moulding machinery

Marketing: they hired a marketing team about 18 months ago
they have no intention of mass-marketing
the digital strategy is an attempt to get control of the narrative, they identified the fact that all the web traffic was going to blogs and forums where new (and old) players would meet a lot of negativity and grumbling
it's working, their web traffic is high and growing (2 million unique users on warhammer community, for example), the traffic on 3rd party sites is falling
they are measuring clickthroughs and doing more market research about customers, no granular info yet, but a big change in direction from the Kirby years
they intend to carry on being much more proactive in supporting tournament organisers and the like

40k: none of them are allowed to say, but from what I wheedled out it sounds like 8th is doing very well indeed, they consider it a success
the gathering storm stuf and SW:A was a strategy to prevent the normal big sales drop-off they get before a new edition (like they did with WHFB's end times)

AoS: they won't provide figures for individual ranges, but sales are up
overlords did well

Specialist games: the reason they abandoned these in the past was because they had a small design team which was hard to expand, so they put the focus into the most profitable lines (40k and fantasy), that's not an issue any more
the success of BB caught them by surprise, which is why there was a fairly big gap between gobbos and elves. The latter are the first team designed entirely since release, they intend to continue releasing about one team per quarter
necromunda will have better support from the get go, they want to get more of the gangs out at release or shortly thereafter and have future plastics more planned out
aiming to make them very customisable, extra weapons and upgrades will probably be available in resin cawdor got a mention, might mean that they're coming at release or might just mean that that's one they're working on now
HH has been derailed a bit by Bligh's death and producing a new rulebook. Now that's in the printers they're getting back on with it, there are plenty of models in the pipeline
there are no more HH plastics planned at the moment. Never say never, but production time is at least a year, so don't expect anything anytime soon.

**ZebioLizard2**

Well getting back on topic, it's nice to see that they'll be increasing the amount of people working between the three lines they are producing.

**JohnnyHell**

The production capacity has been felt in so many things selling out/short shipping for some time. Nice problem to have, but they'll be keen to stop leaving money on the table.

A lot of expansion though. They'll need to keep delivering bigtime to avoid layoffs and being sat on unused machinery. Still, if the current level of models and quality of games continues they won't worry for some time.

**Hollow**

I wonder what they plan to do over the coming few years to maintain and build upon the wave they are currently surfing?

**Arbitrator**

Hollow wrote:
I wonder what they plan to do over the coming few years to maintain and build upon the wave they are currently surfing?

More Primaris probably.

**Azazelx**

Hopefully they can keep 40k from spiralling out of control again while maintaining a decent but not insane release schedule.

**Carlovonsexron**

JohnnyHell wrote:
The production capacity has been felt in so many things selling out/short shipping for some time. Nice problem to have, but they'll be keen to stop leaving money on the table.

A lot of expansion though. They'll need to keep delivering bigtime to avoid layoffs and being sat on unused machinery. Still, if the current level of models and quality of games continues they won't worry for some time.

You bring up good points- it's not difficult to believe that they would be thinking about new race options in 40k given that situation.

Fantasy at least now has an absurd level of openess for future developments.

**jeff white**

Carlovonsexron wrote:
JohnnyHell wrote:
The production capacity has been felt in so many things selling out/short shipping for some time. Nice problem to have, but they'll be keen to stop leaving money on the table.

A lot of expansion though. They'll need to keep delivering bigtime to avoid layoffs and being sat on unused machinery. Still, if the current level of models and quality of games continues they won't worry for some time.

You bring up good points- it's not difficult to believe that they would be thinking about new race options in 40k given that situation.

Fantasy at least now has an absurd level of openess for future developments.

I wonder if this includes reincarnating the old world narrative base...
If they did that then in would get back into fantasy...

**Kawauso**

animal310 wrote:The following was posted by BenV94 at the following link. It is information from the recent GW AGM.
...allow them to release something for each of those lines on a regular basis, monthly at least if not faster they want there to constantly be something new for players to buy rather than them waiting for months on end keeping a constant monthly cashflow and sales improvement is important to them, it's not about a few big releases a year

This was an interesting detail (which we've already seen in effect, I believe) that I found a bit...worrying?

I'm not 100% sure what the right word is but I guess it makes me wonder: how sustainable is something like that, long-term?

They've been able to build and maintain a dedicated fanbase for decades with a much slower release schedule. Yes, times have changed and we live in an age of constant information where everything is new - and yes, the regular, frequent releases do indeed keep people invested and help bring in new blood and provide lots of growth for the hobby.

But the thing is that for the most part, these additions are cumulative. The setting and game only continue to get more complex, more labyrinthine and more daunting with everything that's added. We're getting added depth, yes, but it's at the cost of a continual upward trend in overall complexity. Long-term that's a considerable problem for a game.

Nobody wants to be told they can't use their models any more. Having a line "squatted" is one of the worst things a hobbyist can have happen to them - particularly with the level of personal investment these games ask of us. We very literally put a part of ourselves into our armies through collecting, building, converting and painting. At the end of the day, however, there's an upward limit to how much one can continuously add to the game.

So what happens when we reach that inevitable event horizon of bloat? We've seen them tackle it to different degrees of success, I would argue, with AoS and 8th Edition 40k. I would argue 40k handled this the best by drastically cutting back on rules bloat while still enabling everyone to use the models in their collections.

That said, what happens when the Space Marine range is twice its current size? Three times? Four?
At some point I don't think a purely additive process will allow the game to continue to grow but will in fact be detrimental to it. But what does that mean, ultimately?

I'm not entirely sure - different games handle complexity creep in different ways - but I guess my ultimate point is that this is a problem they're going to have to tackle sooner or later, and with the current pacing of releases that point is going to come sooner rather than later.
Maybe they've thought this through as far as a long-term, end-game concept of some sort, but GW isn't the most transparent game studio out there, no matter how much they've improved lately, so this is something I can't help but have as a worry in the back of my mind.

Anyone have any thoughts on this?

**Chikout**

There is a lot of interesting news here. With Necromunda and new 40k both in this financial year, it seems certain that GW will have another year of record sales. The question is if they can maintain that momentum. If they can get bloodbowl, Necromunda and Shadespire players to make regular purchases, they may be able to establish a higher baseline.

From the massive success of the Canoness and celestine, it is clear that Sisters will be a massive hit when they are released. It would make sense to save them for the second half of 2018 where they will help the next year's results.

Having dedicated designers for the specialist studio is a wise move, but I would be a little worried about burnout.
It is interesting that the main design studio seems pretty stable, but a lot of forgeworld guys have moved on. I wonder if sculpting nothing but space marines had anything to do with it.

I hope that they don't divide the main studio up. I want Jes to do some Aos concepts
As for AoS, it feels like GW manages to build some momentum then lets is slip. There have been lots of good products for AoS to the extent that it now has an excellent on ramp for new players. Shadespire to skirmish to path to glory to the main game. But it is looking like the next battletome will be in January. That is an 8 month gap which is far too long. Aos had a 5 month gap between battletomes last year as well. These gaps really killed the momentum that the first general's handbook started.

It looks like GW is aware of these problems, so hopefully 2018 will be better.

The 40k launch has been impressive, with GW actually learning from the mistakes made with AoS. The production issues explain the slow drip feed of deathguard releases.
It might also explain why have had quite so many book releases this year.
It will be interesting to see if GW keep up with their current pace of codex releases. At this rate they will have a codex for every current faction by the end of 2018.

The new rules format also makes it easy to release new minis without redoing a codex in the future as they can just put the datasheets in the box. I suspect we will see gw do this a lot.

Overall since 2015 I think each year has been better than the last. Hopefully 2018 can continue the trend.

**Gamgee**

That sounds fantastic Chikout. Next year is also the big Tau update (and so much more). If you can visualise my excitement levels its at fatman who has so much hype and energy for this release and how great 8th has been (with a few minor missteps). I might turn into pure hype energy being like an Archon in Star Craft at this rate.

Year of the xenos yes yes. Also probably some primarchs too because of course. Time to get shwifty.

**Voss**

jeff white wrote:
Carlovonsexron wrote:
JohnnyHell wrote:
The production capacity has been felt in so many things selling out/short shipping for some time. Nice problem to have, but they'll be keen to stop leaving money on the table.

A lot of expansion though. They'll need to keep delivering bigtime to avoid layoffs and being sat on unused machinery. Still, if the current level of models and quality of games continues they won't worry for some time.

You bring up good points- it's not difficult to believe that they would be thinking about new race options in 40k given that situation.

Fantasy at least now has an absurd level of openess for future developments.

I wonder if this includes reincarnating the old world narrative base...
If they did that then in would get back into fantasy...

If they are indeed riding a wave, jumping back to the old world will strike them as jumping off into the surf. So it seems unlikely, as an uptick in AoS and the 40k changes creates confidence in current management decisions in general. Going back to the 'old' would very much be seen as a mistake.

**willb2064**

jeff white wrote:

I wonder if this includes reincarnating the old world narrative base...
If they did that then in would get back into fantasy...

Seems crazy to me that they would let an incredibly strong and popular IP stagnate. They are continuing digital releases with Total War 2 and WHQ 2, i’m Sure one day they will bring it back in some form.

**Chopstick**

I hope the specialist game are here to stay, or at least one from Shadespire or Necromunda would get merged into their main line product. Because I really hate to hoard "last chance to buy" product.

Can't say the same for bloodbowl or titanicus tho.

**MechaEmperor7000**

If they're smart, they will start releasing models for ranges that people have been clamoring for. Regardless of the reason, the Sisters of Battle is basically an untapped goldmine they're just sitting on, and if the success of Shadow Wars and Bloodbowl is any indication, revisiting popular old IPs can and will work.

**Racerguy180**

MechaEmperor7000 wrote:
If they're smart, they will start releasing models for ranges that people have been clamoring for. Regardless of the reason, the Sisters of Battle is basically an untapped goldmine they're just sitting on, and if the success of Shadow Wars and Bloodbowl is any indication, revisiting popular old IPs can and will work.

SQUAAAAAAAAATTTTTTTTSSSSSS! I can be hopeful, can't I? I would also accept plastic sisters, but only so much.

**Jadenim**

MechaEmperor7000 wrote:
If they're smart, they will start releasing models for ranges that people have been clamoring for. Regardless of the reason, the Sisters of Battle is basically an untapped goldmine they're just sitting on, and if the success of Shadow Wars and Bloodbowl is any indication, revisiting popular old IPs can and will work.

There's so many areas of the existing IP that could be fleshed out, without even needing to resurrect the old games (although I'm really hoping they do that too). I mean how many plastic Kasrkin sets would they sell? Or any of the various regiments currently with old, limited, metal ranges? I do wonder whether the recent conversion heavy guard are a toe in the water for them to start doing other kits.

**His Master's Voice**

willb2064 wrote:

Seems crazy to me that they would let an incredibly strong and popular IP stagnate. They are continuing digital releases with Total War 2 and WHQ 2, i’m Sure one day they will bring it back in some form.

I assume Legacy Warhammer is what FW will pick up when the 30k torrent slows down a little.

**JohnnyHell**

Warhammer Fantasy Battle ain't coming back. You don't staff up for AoS then redo the previous game. It's gone, guys.

**Gamgee**

Fantasy is dead guys and honestly I'm fine with that. With any luck Creative Assembly is the one we should be looking to to add to fantasy. The video games should pick up the slack for it. This also gives some time for GW to make more iconic AoS stuff and maybe in a decade AoS has enough content for its own strategy game.

**His Master's Voice**

JohnnyHell wrote:
Warhammer Fantasy Battle ain't coming back. You don't staff up for AoS then redo the previous game. It's gone, guys.

We're talking about the IP, not the rules set.

**Lord Kragan**

His Master's Voice wrote:
JohnnyHell wrote:
Warhammer Fantasy Battle ain't coming back. You don't staff up for AoS then redo the previous game. It's gone, guys.

We're talking about the IP, not the rules set.

The studio isn't just the rules, either. IMO they will just outsource WHFB, let it in the hands of other developers.

**JohnnyHell**

His Master's Voice wrote:
JohnnyHell wrote:
Warhammer Fantasy Battle ain't coming back. You don't staff up for AoS then redo the previous game. It's gone, guys.

We're talking about the IP, not the rules set.

That's cool. It's still not gonna come back as a main GW product in any way though. The IP has morphed into Age of Signar and that's what they're pursuing. Expecting anything else leads to disappointment.

**fresus**

Chopstick wrote:
I hope the specialist game are here to stay, or at least one from Shadespire or Necromunda would get merged into their main line product. Because I really hate to hoard "last chance to buy" product.

Can't say the same for bloodbowl or titanicus tho.

I've read somewhere (forgot where sorry) that GW wants to treat Shadespire as a core game, but I'm not sure what it means.
It could mean that they'll tell the people from the Specialist department to keep releasing stuff, or that they'll create a department that focuses entirely on Shadespire.

**Crazyterran**

I think ranges that are already mostly in Plastic (Tau, Tyranids, IG, Admech) are going to be single week codex releases, while armies that need massive overhauls from Metal/Finecast (Eldar, Sisters, Cult/God specific Chaos, Orks) are going to get month long releases.

Space Marine variants will probably get a few Primaris releases thrown in to bump up sales, but I expect this massive codex push is their reason for them to phase out older materials/models and bring in the new stuff. They can even take out units at this point, and just point people who have the old stuff to the index, allowing them to change the line up going into the future.

**Mymearan**

I would love to see an Age of Sigmar Total War personally. The newer factions have so much personality since they aren't as constrained by the setting.

**LunaWolvesLoyalist**

"they want to bring more women into the hobby, but don't want to alienate the existing playerbase while doing so, it is something they're aware of (but no details as yet) "

This is something I really hope they work on. And no, I am not going to just rant that we need plastic SoB...even though that would help a lot and I know for a fact my wife would drop a grand on SoB plastics.

Lets see stronger female characters in the fluff, some female options for miniatures in the various armies. Variant IG heads for female guardsmen, some named female heroes with rules and miniatures would go a long way.

40k is a sausage fest and it does not have to be.

**BrookM**

Age of Sigmar would lend itself really well to computer games with a smaller scope, like Mordheim or dare I say, single heroes fighting through dungeons of arcane horrors hack 'n slash style.

**Mad Doc Grotsnik**

Pretty much nailed it right there matey.

But, I have been on at GW about this since the AGM stuff was shared.

I asked that given their wide appearance in the background, might be look forward to more female Stormcast models - even if just as an upgrade pack for stuff like the big dragon things.

GW's response was largely promising. They're aware of the feedback, and are looking into it.

For established players, it's a nice way to expand your force whilst helping to avoid repetition of models.

For new players, it shows a more open, welcoming hobby.

For those likely to claim emasculation because a tiny plastic model has norks instead of pecs, I'd imagine it's good riddance.

**Chikout**

GW have not done too badly with female minis this year.
We have Celestine and the twins, 2 female stormcast, greyfax, half the elf bloodbowl team and the escher gang.That is 22 female models in one year.
A sisters army next year is practically guaranteed at this point and more Aelves which often include females are probably coming.