Mad Catz reports $11M loss following bad Rock Band 4 deal

Mad Catz has had a rough year, noting today in a full-year earnings report that it lost $11.6 million (down from a $4.7 million profit the year prior) despite a 55 percent uptick in sales.

Mad Catz has had a rough twelve months, posting a full-year earnings report today that includes an $11.6 million loss for the year (down from a $4.7 million profit the year prior) despite a 55 percent uptick in sales year-over-year.

Notably, the video game hardware vendor also reports it has until September 6th to "sell remaining $8.3 million of Rock Band 4 inventory" as part of 120-day wind-down period related to it severing ties with Harmonix as co-publisher of last October's Rock Band 4.

Mad Catz also reported $6.8 million in "charges related to Rock Band 4 for inventory write-downs, material authorizations and price reductions with retailers" during the fourth quarter of its 2016 fiscal year, which ended March 31st. 

Harmonix inked a Rock Band 4 co-publishing deal with PDP earlier this year to replace Mad Catz, which saw underwhelming returns from the project and wound up laying off over a third of its staff in February as part of a major cost-cutting iniative.

"We completed a significant restructuring program that will save the Company approximately $6 to $7 million on an annualized basis," stated Mad Catz CFO David McKeon in the company's full-year earnings report. " While there is much work to be done and we continue to have working capital constraints, we are confident that Fiscal 2017 will benefit from the Company’s recent efforts.”

Latest Jobs

Manticore Games

San Mateo, California
Senior Software Engineer - Mobile

Sony PlayStation

San Diego, California
Sr. Online Programmer

The Walt Disney Company

Glendale, California
Associate Marketing Manager - Walt Disney Games

Insomniac Games

Burbank, California
Accessibility Design Researcher
More Jobs   


Explore the
Subscribe to
Follow us

Game Developer Job Board

Game Developer Newsletter


Explore the

Game Developer Job Board

Browse open positions across the game industry or recruit new talent for your studio

Subscribe to

Game Developer Newsletter

Get daily Game Developer top stories every morning straight into your inbox

Follow us


Follow us @gamedevdotcom to stay up-to-date with the latest news & insider information about events & more