What High Moon Studios does

High Moon Studios is a video game development studio founded in 2002 and headquartered in Carlsbad, California. The studio operates as a wholly-owned subsidiary of Activision Publishing, Inc., which became part of Microsoft Gaming following Microsoft's acquisition of Activision Blizzard in 2023. High Moon contributes to major AAA franchises, with primary work on the Call of Duty series including Call of Duty: Black Ops 6, Modern Warfare III, Warzone 2.0, Vanguard, and earlier entries, as well as the Transformers franchise (Fall of Cybertron, Dark of the Moon, War for Cybertron) and a co-development role on Bungie's Destiny 2: Forsaken expansion. The studio has contributed to over 20 titles since its founding.

The studio employs more than 170 people and maintains a senior leadership team spanning creative direction, engineering, technology, art, audio, production, IT, finance, and HR functions. Core technology is described as game development engine technologies for AAA titles, with domain specialization as the primary differentiator. Studio leadership includes Studio Head Peter Della Penna, VP and Game Director Matt 'Tieg' Tieger, Senior Creative Director David Cravens, and Co-CTO Stephane Etienne, among 20+ named senior team members.

As an internal development studio, High Moon does not sell directly to end users or maintain independent distribution. Revenue flows through Activision Publishing, which distributes finished games globally across PlayStation, Xbox, PC, and free-to-play platforms. The single-customer concentration on Activision/Microsoft Gaming defines the studio's commercial structure: it functions as an internal development cost center within Microsoft's first-party gaming organization rather than an independent commercial entity.

Name

High Moon Studios

Legal name

High Moon Studios

Website

https://highmoonstudios.com

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

51–100 employees

Short description

High Moon Studios is a wholly-owned Activision game development subsidiary in Carlsbad, California, developing AAA titles—primarily for the Call of Duty franchise—within Microsoft Gaming following the 2023 acquisition.

Ownership category

akta.pro rank

Product category

Video Game Development

NAICS

Software Publishers (513210)

akta.pro primary industry

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

Keywords

• AAA video game development
• Call of Duty development
• Franchise game studio
• First-person shooter development
• Action adventure games

Headquarters

HQ city

Carlsbad

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Infrastructure

Revenue model

1. Game Development Services: As an internal studio of Activision, High Moon generates revenue through game development work on the Call of Duty franchise and other major titles under the Activision/Microsoft Gaming umbrella

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

High Moon Studios is an internal AAA video game development studio that develops first-person shooter and third-person action games on behalf of Activision and Microsoft Gaming. Its core work centers on the Call of Duty franchise (including Black Ops 6, Modern Warfare III, Warzone, Vanguard, and earlier entries), with additional contributions to the Transformers franchise and Destiny 2: Forsaken. The studio sells development services to its parent publisher rather than selling games to end consumers directly.

Product overview

High Moon Studios is a video game development studio that operates as a single-product-portfolio company developing first-person shooter and third-person action games. Their primary focus is developing titles within the Call of Duty franchise (including Call of Duty: Black Ops 6, Modern Warfare III, Warzone, Vanguard, and earlier entries), with additional work on the Transformers franchise (Transformers: Fall of Cybertron, Dark of the Moon, War for Cybertron) and Destiny 2: Forsaken. All games are developed as part of Activision and Microsoft Gaming.

Differentiator

Problem solved

Functional benefit

Products and services

• Call of Duty: Black Ops 6 A first-person shooter game in the Call of Duty franchise developed by High Moon Studios as part of their ongoing work on the franchise, published by Activision.
• Call of Duty: Modern Warfare III A first-person shooter game in the Call of Duty franchise continuing the Modern Warfare series, developed by High Moon Studios.
• Call of Duty: Warzone / Warzone 2.0 A free-to-play battle royale game developed by High Moon Studios as part of the Call of Duty: Warzone franchise.
• Call of Duty: Vanguard A first-person shooter game in the Call of Duty franchise developed by High Moon Studios and set during World War II.
• Call of Duty: Black Ops 4 A first-person shooter game in the Call of Duty franchise developed by High Moon Studios featuring a battle royale mode.
• Call of Duty: Black Ops 3 A first-person shooter game in the Call of Duty franchise developed by High Moon Studios.
• Call of Duty: WWII A first-person shooter game in the Call of Duty franchise developed by High Moon Studios and set during World War II.
• Call of Duty: Advanced Warfare A first-person shooter game in the Call of Duty franchise developed by High Moon Studios featuring exosuits.
• Call of Duty: Ghosts A first-person shooter game in the Call of Duty franchise developed by High Moon Studios.
• Call of Duty: Infinite Warfare A first-person shooter game in the Call of Duty franchise developed by High Moon Studios and set in space.
• Call of Duty: Modern Warfare Remastered A remastered version of the classic Call of Duty game developed by High Moon Studios.
• Destiny 2: Forsaken An online-only multiplayer first-person shooter expansion developed by High Moon Studios for Bungie's Destiny 2 franchise.
• Transformers: Fall of Cybertron A third-person shooter video game developed by High Moon Studios based on the Transformers franchise.
• Transformers: Dark of the Moon A third-person shooter video game developed by High Moon Studios based on the Transformers franchise.
• Transformers: War for Cybertron A third-person shooter video game developed by High Moon Studios based on the Transformers franchise.
• Deadpool An action-adventure game based on the Marvel character Deadpool developed by High Moon Studios.
• The Bourne Conspiracy A third-person action-adventure game developed by High Moon Studios based on the Bourne film series.
• AAA game development services Professional game development services for AAA franchises delivered as an internal studio of Activision/Microsoft Gaming, including concept, art, engineering, production, and live operations support for the Call of Duty franchise and other major titles.

Quantifiable outcome

• Over 20 acclaimed titles developed

Named customers1 record

Segments2 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Three partnerships are on record, tiered core and minor.

• ActivisioncoreStrategic or Co-development PartnerHigh Moon Studios is a wholly-owned studio under Activision, developing games for the Call of Duty franchise and other major titles. The studio operates as part of Activision's development network.
• Microsoft GamingcoreStrategic or Co-development PartnerFollowing Microsoft's acquisition of Activision, High Moon Studios operates as part of Microsoft Gaming alongside Activision Blizzard King, contributing to major franchises including Call of Duty.
• BungieminorStrategic or Co-development PartnerHigh Moon contributed to Bungie's Destiny 2: Forsaken expansion, demonstrating cross-studio collaboration on major AAA titles.

Scale indicators3 records

Recent moves6 records

Expansion highlights3 records

Direct peers

• Bungie: Bungie created the Destiny franchise and engaged High Moon as a co-developer on Destiny 2: Forsaken. Now owned by Sony, Bungie operates as a direct comparable AAA studio with a similar internal-studio development model, franchise focus, and live-service shooter expertise.
• Treyarch: Treyarch is the lead studio for the Call of Duty: Black Ops sub-franchise, working alongside High Moon Studios on Black Ops titles including Black Ops 6 and Black Ops 4. Both studios operate as core Call of Duty development partners under Activision, sharing similar team sizes, business models, and AAA development pipelines.
• Infinity Ward: Infinity Ward is the original creator of the Call of Duty franchise and remains a primary co-developer on Modern Warfare titles and Warzone. It operates the same internal-studio model under Activision/Microsoft Gaming with a comparable AAA scope and team size to High Moon.
• Sledgehammer Games: Sledgehammer Games co-develops the Call of Duty franchise, having led Advanced Warfare, WWII, and Vanguard. It operates under the same Activision internal-studio model with parallel scope on the franchise to High Moon.
• Raven Software: Raven Software is an Activision-owned studio that provides ongoing live-service and content support for Call of Duty: Warzone. It shares the same internal-studio business model, customer (Activision), and franchise focus as High Moon Studios.
• Beenox: Beenox is a Quebec-based Activision studio that supports Call of Duty development, including PC porting and live-service operations. It is directly comparable to High Moon as a co-developer within Activision's Call of Duty development network.
• Toys for Bob: Toys for Bob is a former Activision-owned AAA studio known for the Skylanders and Spyro franchises. It shares the internal-studio model under Activision/Microsoft Gaming and the AAA development focus, though it has been separated from Microsoft and operates independently.

Broad incumbents

• 343 Industries: 343 Industries is a Microsoft-owned AAA studio that develops the Halo franchise. It is comparable to High Moon as a first-party Microsoft internal studio working on flagship shooter IP, with comparable team size, business model, and franchise support requirements.
• id Software: id Software is a ZeniMax/Microsoft-owned AAA studio that develops Doom and Quake. It is a broad incumbent comparable to High Moon as another first-person-shooter specialist within Microsoft Gaming's portfolio.
• Naughty Dog: Naughty Dog is a Sony-owned AAA studio famous for The Last of Us and Uncharted franchises. Comparable to High Moon as a top-tier internally-owned AAA studio under a major platform holder, with similar team sizes, franchise IP focus, and award recognition.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/high-moon-studios
• Instagraminstagram.com/highmoonstudios
• Xx.com/highmoonstudios

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about High Moon Studios