505 Games

What 505 Games does

505 Games is a privately held, multi-platform interactive video game publisher headquartered in Milan, Italy, with regional headquarters in Calabasas, California, and wholly-owned operating subsidiaries across the US, UK, France, Spain, Germany, and Italy. Founded in 2006 and operating as a publishing brand within the publicly listed Digital Bros group, 505 Games publishes both owned intellectual property and licensed third-party titles across PC (Steam, Epic Games Store, GOG), consoles (PlayStation, Xbox, Nintendo Switch), and mobile (Google Play, App Store). Its catalog spans racing simulations (the four-title Assetto Corsa franchise including Assetto Corsa, Evo, Competizione, and Rally), action RPGs (Ghostrunner 1 and 2, WUCHANG: Fallen Feathers), puzzle RPGs (the Puzzle Quest franchise, Magic: The Gathering Puzzle Quest, Marvel Puzzle Quest, Gems of War), open-world adventures (Death Stranding Director's Cut, Terraria, Stardew Valley, No Man's Sky), JRPGs (Eiyuden Chronicle: Hundred Heroes and Rising), and action/adventure titles (Bloodstained, Crime Boss: Rockay City, Blades of Fire).

The company's revenue model is primarily one-time game licensing plus DLC across digital storefronts, supplemented by free-to-play mobile live-ops (Puzzle Quest 3, Gems of War, Magic: The Gathering Puzzle Quest, Marvel Puzzle Quest), Steam Early Access programs (e.g., Assetto Corsa Rally, Assetto Corsa Evo), and physical distribution through Sony DADC, Cinram, and Nintendo of America for Blu-ray/DVD SKUs. Xsolla is used as a payment gateway solution for several titles. The company does not develop games in-house at material scale; instead it partners with external developers including Kojima Productions, KUNOS Simulazioni, Supernova Games Studios, Rabbit & Bear, ArtPlay (Koji Igarashi), Infinity Plus Two (Steve Fawkner), and others.

Commercially, 505 Games serves the broad consumer gaming market across North America, Europe, Asia (Japan, China, Korea), and South America. Its customer base is fragmented by design, and its growth profile is anchored by a small number of major titles per year — notably WUCHANG: Fallen Feathers (over 1 million copies sold and more than $35M in net revenue by late March 2025) and Death Stranding (20M+ cumulative players across platforms since 2019). The company holds CCPA, CPRA, GDPR, PDPA, and CPSIA compliance certifications and operates a global subsidiary structure that enables regional localization, distribution, and regulatory coverage. Leadership comprises co-founder and CEO Raffi Galante and Head of Free to Play Clive Robert, among others.

Name

505 Games

Legal name

505 Games S.p.A.

Website

https://505games.com

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

51–100 employees

Short description

505 Games is a Milan-headquartered, Digital Bros-owned multi-platform video game publisher publishing owned and licensed titles across PC, console, and mobile, with franchises including Assetto Corsa, Death Stranding, Wuchang, Ghostrunner, and Puzzle Quest for global consumer markets.

Ownership category

akta.pro rank

Product category

Video Game Publishing

NAICS

Software Publishers (51321), Software Publishers (5132)

SIC

Services-Motion Picture & Video Tape Distribution (7822)

akta.pro primary industry

Full-Service Game Publishers (1st/2nd/3rd-Party Publishing) (MPAFABAA)

akta.pro secondary industries

AAA & Premium Game Studios (PC/Console) (MPAFAAAA), Indie Game Studios (MPAFAAAC), Cloud Gaming Integration & Porting Services (Cloud builds, compatibility, QA) (MPAFAHAJ), Player-to-Player Marketplaces & Trading Platforms (MPAFAJAE)

Keywords

• Video game publishing
• Multi-platform game distribution
• Interactive entertainment software
• Digital game retail
• Console PC gaming

Headquarters

HQ city

Calabasas

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Software

Cost components

Marketing or Sales, Technology or R&D, Personnel, Operations, Supply Chain

Revenue model

1. Game Sales and DLC: 505 Games generates revenue through the sale of video games and downloadable content across multiple platforms including Steam, Epic Games Store, PlayStation, Xbox, Nintendo Switch, and mobile app stores. Revenue comes from both owned intellectual properties and licensed third-party game titles.
2. Early Access Programs: Assetto Corsa Rally launched on Steam Early Access on November 13th, 2025, indicating the company uses early access as a revenue stream for game development funding.

Go-to-market motion1 record

Distribution channels8 records

Marketing channels3 records

Core offering

505 Games is a multi-platform interactive video game publisher that releases and distributes game titles globally across PC (Steam, Epic Games Store, GOG), PlayStation, Xbox, Nintendo Switch, and mobile platforms. The company publishes both its own owned intellectual properties (e.g., Assetto Corsa, Ghostrunner, Puzzle Quest) and licensed third-party titles from external developers (e.g., Death Stranding from Kojima Productions, Bloodstained from ArtPlay).

Product overview

505 Games is a video game publisher with a diverse portfolio of titles spanning multiple genres including racing simulations (Assetto Corsa series), action RPGs (Ghostrunner, WUCHANG: Fallen Feathers), puzzle games (Puzzle Quest franchise including Puzzle Quest 3, Puzzle Quest: Immortal Edition, Magic The Gathering Puzzle Quest, Marvel Puzzle Quest, Gems of War), open-world adventures (Death Stranding, Terraria, No Man's Sky), horror games (Hellblade), and JRPGs (Eiyuden Chronicle series). The company publishes games across multiple platforms including PC (Steam, Epic, GOG), consoles (PlayStation, Xbox, Nintendo Switch), and mobile. The Assetto Corsa franchise includes multiple specialized titles: Assetto Corsa (core racing), Assetto Corsa Evo (next-gen), Assetto Corsa Competizione (GT racing), and Assetto Corsa Rally (rally racing). The Puzzle Quest franchise encompasses several entries including the original format games, remastered editions, and crossover titles with major franchises like Marvel and Magic: The Gathering.

Differentiator

Problem solved

Functional benefit

Products and services

• Assetto Corsa

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and flagship.

• Supernova Games StudioscoreStrategic or Co-development Partner · 17 October 2025Supernova Games Studios, formed by industry veterans from DiRT, WRC, and Project CARS, developed Assetto Corsa Rally in partnership with 505 Games. Launching into Steam Early Access on November 13th, 2025.
• KUNOS SimulazionicoreTechnology or Integration · 17 October 2025Technical partnership for Assetto Corsa Rally. KUNOS Simulazioni provided their proprietary physics engine adapted and refined for rally racing simulation.
• Kojima ProductionsflagshipStrategic or Co-development Partner505 Games publishes Death Stranding Director's Cut on PC in partnership with Kojima Productions. The game has captivated over 20 million players worldwide since 2019. An animated series 'DEATH STRANDING ISOLATIONS' is streaming on Disney+ in 2027.
• Infinity Plus TwocoreTechnology or IntegrationDeveloper of Puzzle Quest: The Legend Returns and Puzzle Quest: Immortal Edition, published by 505 Games. Steve Fawkner is the creator of the Puzzle Quest franchise.
• Rabbit & BearcoreTechnology or IntegrationDeveloper of Eiyuden Chronicle: Rising and Eiyuden Chronicle: Hundred Heroes, published by 505 Games. Founded by former Suikoden team members.

Scale indicators1 record

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Capcom: Established multi-platform publisher and developer with strong owned-IP portfolio. Comparable to 505 Games on PC/console distribution and action-RPG publishing focus, though Capcom is both developer and publisher at materially larger scale.
• Bandai Namco Entertainment: Major multi-platform publisher with global reach and significant owned-IP portfolio. Comparable to 505 Games on multi-platform distribution and genre diversity, but operates at significantly larger scale and with deeper internal IP holdings.
• Koch Media / Plaion (Embracer): European multi-platform publisher/distributor with a deeper catalog and physical distribution capabilities than 505 Games. Comparable as a broader incumbent in the same mid-tier publishing tier with overlap in racing, action, and adventure genres.

Regional players

• Marvelous Inc. Japanese publisher with portfolio spanning simulation, action, and RPG genres across PC, console, and mobile. Comparable to 505 Games on multi-genre, multi-platform publishing model; operates primarily in the Japanese and Asian market rather than competing directly in 505's core Western geographies.

Direct peers

• Annapurna Interactive: Independent publisher of artistic and mid-budget games across platforms. Comparable to 505 Games on third-party developer relationships and curated multi-genre catalog, though skewed toward narrative/art titles.
• Focus Entertainment: European-based multi-platform publisher with a portfolio spanning action RPGs, racing, and licensed IPs. Comparable to 505 Games on geographic profile (EU headquartered), mid-tier publishing scale, and reliance on external development partners.
• Devolver Digital: Independent multi-platform publisher focused on distinctive indie and mid-budget titles across PC and console. Closely comparable to 505 Games on third-party developer relationships, multi-genre catalog, and digital-first distribution model.
• Team17: UK-headquartered independent publisher with strong indie and mid-tier developer relationships across genres. Comparable to 505 Games on third-party publishing model, multi-platform distribution, and catalog breadth.
• Private Division: Take-Two's publishing label for mid-budget and indie titles across PC and console. Comparable to 505 Games on developer-relationship-driven publishing, genre diversity, and focus on quality-curated mid-tier titles.
• THQ Nordic (Embracer Group): Mid-to-large multi-platform publisher owning and licensing a broad catalog of game IPs across genres and platforms. Highly comparable to 505 Games in business model (third-party publishing, remaster/sequel strategy, multi-region distribution) and portfolio mix (action, RPG, racing).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/505_Games
• Facebookfacebook.com/505Games
• LinkedInlinkedin.com/company/505-games

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries10 records

Funding overview

Funding rounds

Investors

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

M&A1 record

Investments

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

Frequently asked questions about 505 Games