简单翻一下财报说明，翻的不好请见谅。
财报：
http://investor.activision.com/reports.cfm
2015 Q2 10-Q
第31页
Blizzard’s net revenues increased for the three months ended June 30, 2015,
as compared to 2014, primarily due to higher revenues from Hearthstone:
Heroes of Warcraft and the release of its latest adventure, Blackrock
Mountain , revenues from Heroes of the Storm, which was released on June 2,
2015, and the release of Diablo III: Reaper of Souls in China, a free-to-play
version of the game with premium content and microtransactions available for
purchase. In addition to already having been released on PC, iPad, and
Android tablets in the prior year, Hearthstone: Heroes of Warcraft was
released on iPhone and Android smartphones in April 2015, which contributed
to the current period revenue increase. The increases were partially offset
by declines in revenue from the World of Warcraft franchise.
暴雪公司2015年度第2季净收入相较于2014年增加，其主要是因炉石战记：魔兽英雄传带
来更高收入及最新的冒险章节黑石山上市、暴雪英霸6/2上市后带来的收入以及含商城制
F2P版暗黑破坏神3：夺魂者之镰在中国上市。此外，去年已经在电脑、iPad和安卓平板电
脑上市的炉石战记：魔兽英雄传,在今年2015年4月也在iPhone及安卓智慧手机上市，对当
期的收入增加带来贡献。该收入增加的部份被魔兽世界下滑的收入抵消。
Blizzard’s net revenues decreased for the six months ended June 30, 2015, as
compared to 2014, primarily due to revenues included in the six months ended
June 30, 2014 from Diablo III: Reaper of Souls, which was released in March
2014, and lower revenues from World of Warcraft due to a smaller subscriber
base. The decreases were partially offset by revenues during the six months
ended June 30, 2015 from Hearthstone: Heroes of Warcraft, Heroes of the Storm
and the release of Diablo III: Reaper of Souls in China.
暴雪公司2015年度上半年净收入相较于2014年上半年减少，其主要是去年3月暗黑破坏神3
：夺魂者之镰的上市，和魔兽世界订阅数缩小造成收入更少。该收入减少的部份被炉石战
记：魔兽英雄传、暴雪英霸及中国版暗黑破坏神3：夺魂者之镰抵消。
At June 30, 2015, the global subscriber* base for World of Warcraft was
approximately 5.6 million subscribers, compared to approximately 7.1 million
subscribers at March 31, 2015, and approximately 6.8 million subscribers at
June 30, 2014. As we have seen following past expansion releases,
subscribership declined in the first half of 2015 following the release of
the latest expansion pack, Warlords of Draenor?, in the fourth quarter of
2014 . The subscriber decline was primarily attributable to the East, with
a smaller relative decrease in the West. In general, the average revenue per
subscriber is lower in the East than in the West (where the “East” includes
China, Taiwan, and South Korea, and the “West” includes North America,
Europe, Australia, and Latin America). Going forward, Blizzard expects to
continue delivering new game content in all regions that is intended to
further appeal to the gaming community, however there could be further
declines in the subscriber numbers. While World of Warcraft subscribers have
declined, Blizzard’s revenues were up for the three months, as Blizzard
further diversifies its business and portfolio of franchises. Revenues from
Hearthstone: Heroes of Warcraft, Heroes of the Storm, and Diablo III
contributed to growth in Blizzard revenues and overall gaming community size.
直到2015/6/30，魔兽世界全球订阅数约计为560万，相较于上季有710万订阅数，及去年
同期680万订阅数。就像我们在过去资料片中看到的，2014年第4季上市的最新资料片德拉
诺之霸，其订阅数在2015年第1季下滑。订阅人数下滑主要来自东方，及西方减少，但相
对较小。东方的每个订阅者平均订阅收益1较西方低（这里东方是包含中国，台湾以及韩国
，而西方是指北美，欧洲，澳洲，以及拉丁美洲。）。未来暴雪公司预计会持续在各个地
区开发新的游戏内容，来进一步来吸引游戏社群，但这有可能会让订阅数更加下滑。虽然
魔兽世界订阅数已经下滑，暴雪公司的收入在这三个月仍然是上升的，因此暴雪公司在未
来会多样化其业务和特许权组合。炉石战记：魔兽英雄传、暴雪英霸及暗黑破坏神3的收入
对暴雪公司的收入及整体游戏社群规模成长有其贡献。
所以下滑BZ自已是有底的?
EDIT1：改成平均订阅收益，避免误解