PlaySide Studios Limited (ASX: PLY) has signed a multi-game license agreement with Warner Bros. Interactive Entertainment, a subsidiary of Warner Bros. Discovery, Inc.
Warner Bros. Interactive Entertainment has agreed to provide PlaySide with a highly recognisable intellectual property under license for the purpose of developing two PC/Console game titles.
Development on the first title will commence immediately and a joint announcement concerning the details of both the intellectual property and game will be released in the first half of calendar 2024.
As part of the agreement, PlaySide will pay Warner Bros. Interactive Entertainment several license payments during the development phase of the title, followed by a royalty based on revenue derived from the games during the term of the agreement. The term of the agreement expires five years after the release of the second title.
This agreement is a groundbreaking moment for PlaySide, the culmination of years of effort building relationships with Hollywood studios and investing in our PC and Console development expertise. It is also consistent with our plans to develop larger titles,” Playside CEO, Gerry Sakkas, said.
“We are huge fans of the IP we are working with and are thrilled to be entrusted with the task of bringing it to life for other fans. We are proud to be partnering with Warner Bros. Interactive Entertainment, which has a longstanding history of supporting the extension of its franchises such as Batman into video games and has enjoyed recent success with the likes of Hogwart’s Legacy. I look forward to sharing more details with you soon.”
