What Starbreeze Entertainment does

Starbreeze Entertainment AB (publ) is a publicly listed Swedish independent game developer, publisher, and distributor headquartered in Stockholm, with satellite offices in Barcelona, Paris, and London. Founded in 1998 (originally as O3 Games AB) and listed on Nasdaq Stockholm since 2000 under tickers STAR A and STAR B, the company employs approximately 130 people across roughly 30 nationalities. Starbreeze operates a franchise-anchored model built around its PAYDAY cooperative heist-shooter IP, which spans three core titles (PAYDAY: The Heist in 2011, PAYDAY 2 in 2013, and PAYDAY 3 in 2023) and has accumulated over 50 million cumulative players and over $400 million in lifetime gross franchise revenue.

The company's core technology is a cooperative first-person shooter engine with games-as-a-service infrastructure supporting ongoing live operations, content updates, and cross-platform player management via its proprietary Nebula platform. Starbreeze monetizes through a mix of one-time game purchases, downloadable content (PAYDAY 2 alone carries 80+ DLC packs and 88 heists), a $4.99/month or $19.99 semi-annual subscription tier launched on PAYDAY 2 in September 2025, third-party publishing revenue (Roboquest, Out of Sight, The Tribe Must Survive), and licensing royalties from IP adaptations spanning VR (Fast Travel Games), Roblox (Gamefam, Moonstone Games), mobile (PopReach), and film/TV (VICE Studios). Distribution is digital-first across Steam, Epic, PlayStation, Xbox, Nintendo Switch, GeForce Now, Meta Quest, iOS/Android, and Roblox, with PLAION serving as the publishing partner for PAYDAY 3 under a May 2025 agreement that included a SEK 33 million directed share issue.

Financially, Starbreeze reported SEK 221 million in full-year 2025 revenue with a net loss of SEK 402.7 million (compared to SEK 317.7 million in 2024), Q4 revenue declined 10.7% year-over-year, and the company announced October 2025 layoffs affecting 33 employees in its work-for-hire segment. Leadership transitioned with Adolf Kristjansson appointed CEO effective March 31, 2025. The strategic posture in 2025–2026 has shifted toward offloading capital-intensive publishing to partners, monetizing the PAYDAY IP across new formats (VR, Roblox, film/TV), and building subscription recurring revenue, positioning the company as an IP-licensing platform anchored on a single dominant franchise.

Name

Starbreeze Entertainment

Legal name

Starbreeze AB

Website

https://starbreeze.com

Company type

Public

Founded year

1998

Operating status

Operating

Headcount range

101–250 employees

Short description

Starbreeze Entertainment is a Stockholm-based independent game developer and publisher best known for its PAYDAY cooperative heist-shooter franchise, which has reached over 50 million players across PC, console, mobile, VR, and Roblox platforms.

Ownership category

akta.pro rank

Product category

Video Games

akta.pro primary industry

AAA & Premium Game Studios (PC/Console) (MPAFAAAA)

Keywords

• Video game development
• PC console games
• Cooperative shooter games
• Game publishing distribution
• Live service games

Headquarters

HQ city

Stockholm

HQ country

Sweden

HQ region

Europe

Offices4 records

Markets served

GTM type

B2C

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Game Sales (One-Time Purchase): Core game titles sold as one-time purchases (e.g., PAYDAY 3, PAYDAY 2 base game). Revenue is recognized at point of sale with no recurring component.
2. Downloadable Content (DLC): Expansions, heist packs, weapon packs, and cosmetic content sold as add-ons to core titles (PAYDAY 2 in particular has an extensive DLC catalog). Revenue is one-time transactional per pack.
3. Subscription Model: PAYDAY 2 offers a subscription tier ($4.99/month or $19.99/semi-annually) providing access to the full game and all DLC, competing with the one-time purchase model.
4. Third-Party Publishing Revenue: Revenue from publishing arrangements with third-party developers (e.g., RyseUp Studios for Roboquest, The Gang for Out of Sight, Walking Tree Games for The Tribe Must Survive), where Starbreeze handles publishing and receives a share of sales.
5. Licensing Royalties: Royalties from licensing the PAYDAY IP to external partners for adaptations (e.g., VICE Studios for film/TV) and platforms (e.g., VR version via Fast Travel Games, Roblox via Gamefam).

Pricing tiers

Go-to-market motion4 records

Distribution channels10 records

Marketing channels8 records

Core offering

Starbreeze Entertainment is an independent developer, publisher and distributor of PC and console video games, with the PAYDAY cooperative heist-shooter franchise as its core product line. Beyond PAYDAY 3, PAYDAY 2 and PAYDAY: The Heist, the company maintains a back catalog including Brothers: A Tale of Two Sons, Roboquest, Out of Sight and The Tribe Must Survive, and supports players through its Nebula player services platform.

Product overview

Starbreeze Entertainment is an independent Swedish game developer and publisher operating a platform-plus-franchise model centered on its flagship PAYDAY co-op heisting franchise. The core products are PAYDAY 3 (current main release) and PAYDAY 2 (legacy title with 80+ DLCs), both cooperative first-person shooters where players execute heists in teams of up to four. The company also publishes third-party titles including the FPS roguelite Roboquest, horror game Out of Sight, and strategy game The Tribe Must Survive. Starbreeze supports its games with the Nebula player services platform providing account management and community features. The portfolio spans multiple genres and platforms (PC, console, mobile, VR) with a focus on long-lifetime games built around community engagement.

Differentiator

Problem solved

Functional benefit

Brands

• PAYDAY: Starbreeze's flagship co-op heisting franchise spanning PC and console games with a global community of over 50 million players
• Nebula

Products and services

• PAYDAY 3

Quantifiable outcome

• 50+ million PAYDAY franchise players
• +1 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

13 partnerships are on record, tiered minor and core.

• Fast Travel GamesminorOEM/ Whitelabel/ Licensing PartnerVR game development partnership for PAYDAY: Aces High, a virtual reality adaptation of the PAYDAY franchise. Fast Travel Games develops the VR title under license from Starbreeze, expanding the IP into the VR gaming segment.
• VICE StudioscoreGTM or Marketing PartnerFilm and TV adaptations partnership for the PAYDAY franchise. VICE Studios is developing PAYDAY IP into film and television content, significantly expanding the franchise's reach beyond gaming into broader entertainment media.
• GamefamcoreOEM/ Whitelabel/ Licensing PartnerRoblox game development partnership for PAYDAY on Roblox. Gamefam develops and publishes a Roblox-native game based on the PAYDAY IP, introducing the franchise to a younger, casual gaming audience on the Roblox platform.
• Moonstone GamesminorOEM/ Whitelabel/ Licensing PartnerRoblox game partnership for the Notoriety game on Roblox, a title leveraging game development expertise on the Roblox platform alongside Starbreeze's IP assets.
• RyseUp StudiosminorChannel Partner/ Reseller/ DistributorPublishing partnership for Roboquest, a third-party game title published by Starbreeze on behalf of RyseUp Studios. Starbreeze provides distribution and publishing services.
• The GangminorChannel Partner/ Reseller/ DistributorPublishing partnership for Out of Sight, a third-party game title published by Starbreeze on behalf of The Gang studio.
• Walking Tree GamesminorChannel Partner/ Reseller/ DistributorPublishing partnership for The Tribe Must Survive, a third-party game title published by Starbreeze on behalf of Walking Tree Games.
• PLAIONcoreChannel Partner/ Reseller/ DistributorPublishing rights partnership for PAYDAY 3. PLAION serves as the publishing partner handling distribution, marketing, and sales of PAYDAY 3, leveraging its global publishing infrastructure.
• KRAFTONminorGTM or Marketing PartnerCollaboration with KRAFTON on PUBG: Battlegrounds, a cross-franchise content collaboration bringing PAYDAY-themed content to PUBG players.
• UbisoftminorGTM or Marketing PartnerCollaboration with Ubisoft on The Division 2, a cross-franchise content collaboration bringing PAYDAY-themed content to The Division 2 players.
• Nitro GamesminorStrategic or Co-development PartnerDevelopment services agreement with Nitro Games for game development services, leveraging Nitro Games' expertise in game development for Starbreeze projects.
• PopReachminorChannel Partner/ Reseller/ DistributorMobile game partnership for Payday Crime War, where PopReach handles publishing of the mobile title under the PAYDAY IP.
• 505 GamesminorChannel Partner/ Reseller/ DistributorPublishing partnership for select Starbreeze titles, with 505 Games acting as a publishing partner for certain games in specific markets.

Scale indicators3 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Ubisoft: Major publisher of cooperative and live-service shooters (Rainbow Six Siege, The Division 2). Comparable as a publishing partner (PAYDAY x The Division 2 crossover) and broader incumbent in the cooperative multiplayer shooter space.
• Valve: Developer of Left 4 Dead, the original cooperative FPS template, and operator of Steam, Starbreeze's primary PC distribution channel. Comparable as a cooperative shooter pioneer and the dominant platform holder for PAYDAY's PC distribution.
• Electronic Arts: Major publisher of live-service multiplayer shooters (Battlefield, Apex Legends). Comparable as a broader incumbent in the live-service shooter category where PAYDAY competes for player time and spending.
• Embracer Group: Swedish gaming conglomerate owning many studios and publishers (THQ Nordic, Deep Silver, Gearbox). Comparable as a Sweden-headquartered public gaming holding company, though much larger and broader in scope.

Direct peers

• Behaviour Interactive: Developer of Dead by Daylight, an asymmetric cooperative/multiplayer live-service game with substantial DLC monetization. Highly comparable as a live-service multiplayer game publisher with continuous content updates and DLC expansion.
• Hazelight Studios: Swedish independent studio specializing in cooperative multiplayer games (It Takes Two, A Way Out). Directly comparable as a Stockholm-based indie developer focused on cooperative experiences with strong critical and commercial reputations.
• Paradox Interactive: Swedish publicly listed game developer and publisher with a strong live-service model and extensive DLC catalog. Comparable as a Stockholm-headquartered public game company with a long-tail content strategy and recurring monetization.
• Turtle Rock Studios: Developer of Back 4 Blood and co-creator of Left 4 Dead, focused on cooperative FPS experiences. Direct competitor in the cooperative shooter genre and similar in scale and live-service approach.

Emerging players

• Coffee Stain Studios: Swedish game developer (Goat Simulator, Satisfactory, Deep Rock Galactic) and publisher. Comparable as a Swedish indie studio with publishing operations and a live-service-supported multiplayer title (Deep Rock Galactic competes directly in the cooperative shooter space).
• Saber Interactive: Independent developer and publisher of co-op and multiplayer shooters (World War Z, Warhammer 40,000: Space Marine 2). Comparable as an indie studio pursuing live-service and cooperative shooter content with third-party publishing operations.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/StarbreezeAB
• LinkedInlinkedin.com/company/starbreeze

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds3 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A9 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Starbreeze Entertainment