38 Studios estimates it will take 50 to 100 million to finish Copernicus, Schilling looking for investors

by Seraphina Brennan Jul 28th 2009 at 7:00PM

Filed under: Fantasy, Business models, MMO industry, News items

Curt Schilling is out on the field again -- the investing field, that is. The former baseball star turned game developer is looking for more investors to back 38 Studios and their first game, the title codenamed Copernicus. The company's estimates for their game requires 50 to 100 million more in funding for the staff, all with their tentative December 2010 launch in mind.

Keep in mind, of course, that 38 Studios has acquired Maryland developer Big Huge Games, the company known for Rise of Nations, Rise of Legends, and Xbox Arcade's version of Catan. That acquisition doubled the company's headcount and has possibly driven operating costs into the 15 to 20 million a year range, according to the Boston Globe.

So far Schilling hasn't had any luck with potential investors. However, as he said to the Boston Globe, "I'm not going to complain about the economy. It's like pitching on a rainy day. The other guy has to pitch in it, too."

[Via Cuppycake]

Tags: 38-studios, acquisition, big-huge-games, boston-globe, breaking, budget, catan, copernicus, copernicus-mmo, funding, investors, kurt-schilling, r-a-salvatore, rise-of-legends, rise-of-nations

Reader Comments (Page 1 of 2)

max said on 7:11PM 7-28-2009

Hmm, this doesn't seem to bode well. Here's hoping Copernicus doesn't turn into another Stargate: Worlds.

Celestro said on 7:17PM 7-28-2009

**Has flashbacks to the development of Warhammer Online: Age of Reckoning**

Keen said on 7:25PM 7-28-2009

Damn, Salvatore is expensive.

MrGutts said on 7:28PM 7-28-2009

Someone give 38 some more cash and make it snappy.

PeterD said on 7:28PM 7-28-2009

50 to 100 million . . . more? Are they developing an MMO or a military weapons project? :p

I could understand 50 to 100 million total (though even that boggles the mind a little) but this has been in development for a couple of years already. Needing that much MORE cash is a little disturbing.

They're trying to make the guy that said it would take a billion dollars to develop an MMO that could beat WoW not look like an idiot, right?

Brian! said on 2:11PM 7-29-2009

I agree. That number is silly.

starzzareblind said on 7:46PM 7-28-2009

Woah, what the heck that is alot of freakin money

Dethgar.com said on 7:37PM 7-28-2009

I want to see this game released, but if they were already cutting it close, why did they pick up another company? Especially one that isn't pulling in profits atm.

Jack said on 7:52PM 7-28-2009

For that money I can make a game!!

DeathMutant said on 7:57PM 7-28-2009

Sadly, the MMOG industry is following the Hollywood entertainment industry model too closely like many people predicted and observed years ago. Multi-million dollar budgets leading to overruns, flops and risk-adverse investors. I expect more major losses reported followed by big-name mergers and buyouts soon.

What's next? A writer's strike?

On the up-side, this creates opportunity for Indie projects aiming for niche markets with shoestring budgets. Does anyone know if there is a web site analogous to Massively.com that specializes in covering Indie MMOG projects?

Historically, I prefer AAA titles from established companies but believe many are soon due a "correction" -- of which Hollywood is long overdue. I believe the era of the Indie MMOG is almost upon us. . .

p0wl said on 8:13PM 7-28-2009

*Curt ftfy

pogger said on 8:20PM 7-28-2009

Maybe he should ask Nancy Pelosi?

Michael said on 9:04PM 7-28-2009

I guess with McFarlane and RA Salvatore on board as well as the best of the best in MMO gaming design, ya gotta fork over a lot of money to make everyone happy. With today's inflation rate and the way the business is going right now (stagnant), 50 to 100 million isn't that bad.

It costs about 100 million to make a 90 minute movie, so to make a great MMO, I don't find the price tag that unreasonable.

Dblade said on 2:04AM 7-29-2009

the problem is with the return on investment. A movie can generate a lot of other ways to make money, like foreign releases, the dvd market, other goods like toys, sales of soundtracks, etc. A MMO is limited to the sub fee + microtransactions, and very rarely is big enough to make money with other ways.

Also, the 100+ million movies tend to be released by larger studios, which can absorb some of the risk if they tank. One transfomers: the fallen can make up for a lot of artsy movies no one watches. Curt's company is going to have no recourse if that's the case for him.

That's a lot of money though to raise for a startup.

Animagnum said on 10:00PM 7-28-2009

If I send $5 can I get my name in the credits?

Maybe $10?

Goonja said on 10:41PM 7-28-2009

Looks like we will have another unfinished game if they don`t find enough money.Are we going to see another Vanguard/Warhammer Online release?

I really hope they can find some investors and release their game.

Wjowski said on 10:58PM 7-28-2009

You're lookin' at the next Vanguard here, folks.

Leshrac said on 11:21PM 7-28-2009

Good god I called, I think we all could see this coming a million (no pun intended) miles away - ION Storm of the MMO world.

JayFiveAlive said on 11:41PM 7-28-2009

Oh noesss! This was my most anticipated MMO! I wonder how long they can sustain themselves before they need the $50-100 million more. Damn! I hope they find some funding... I was REALLY interested in seeing this game. Here's to hoping Curt can sweet talk a few investors.

/me raises beer.

FiresOfHeaven said on 12:04AM 7-29-2009

That's funny, because I think what Curt actually said was:

"It takes anywhere from $50-$100 million to make a large MMO."

Plus, he already has something like $30 million of his own money invested in the company, and the reason they're still searching is because they have the breathing room and time with so much initial capital.