What PERMANENTWAY ENTERTAINMENT does

Permanent Way Entertainment is an indie game and animation studio founded in 2006 and headquartered in Atasehir, Istanbul, operating under the legal entity Permanent Way Bilisim Danismanlik Ticaret Limited Sirketi. The studio produces action-adventure, hack-and-slash, RPG, adventure, and story-driven video games for PC and consoles, alongside 3D animated feature films. Its production pipeline is built on Unreal Engine 4, Unreal Engine 5, and Houdini, with stated research interests in procedural content generation, data-driven design, and AI for game development. The portfolio includes ~32 games (approximately 20 for the Turkish domestic market and 12 for international markets) such as Blood of Mehran, Legend of Baboo, The Land of the Magnates, the Murder in Tehran's Alleys series, and Project DMT, plus animated films The Boy and the Sword and Legend of Sepehr.

The company serves two distinct end-customer segments: global video game consumers via one-time-purchase sales on Steam, Epic Games Store, PlayStation Store (PS5), and Xbox Store (Xbox Series X|S); and global animation audiences via streaming distribution on Apple TV and Prime Video. Its narratives draw heavily from Persian, Mesopotamian, and broader Middle Eastern mythology and folklore, positioning the studio as a niche cultural-content producer rather than a mass-market publisher. Distribution is executed through publisher partnerships — Blowfish Studios publishes Blood of Mehran, Midwest Games publishes Legend of Baboo — and animation co-production partnerships with Octane MultiMedia and GlobalWatch Film.

The business model is one-time license revenue from game sales plus animation distribution licensing, with no disclosed recurring or subscription pricing. The studio is privately held, founder-controlled under CEO and Game Director Emad Rahmani, with no external funding rounds, parent company, or subsidiary relationships on record. Operational scale is modest at 36 employees, and growth signals in 2024-2025 include multi-platform console launches, expansion into streaming animation, and 16+ film festival awards for The Boy and the Sword, including a Remi Gold Award at WorldFest-Houston 2025 and Best Animation at the World Film Festival in Cannes.

Name

PERMANENTWAY ENTERTAINMENT

Legal name

Permanent Way Bilisim Danismanlik Ticaret Limited Sirketi

Website

https://permanentwaygames.com

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Short description

Permanent Way Entertainment is a privately held Turkish indie game and animation studio founded in 2006, developing action-adventure video games and 3D animated feature films rooted in Persian and Mesopotamian cultural storytelling for global consumers across PC, console, and streaming platforms.

Ownership category

akta.pro rank

Product category

Video Game Development

NAICS

Motion Picture and Sound Recording Industries (512), Software Publishers (5132)

SIC

Services-Motion Picture & Video Tape Distribution (7822)

akta.pro primary industry

Regional/Local Market Publishers & Distributors (Territory Rights, Localization-led Publishing) (MPAFABAH)

Keywords

• Indie game development
• Animated feature films
• Action-adventure games
• Game animation studio
• Mythology-themed games

Headquarters

HQ city

Istanbul

HQ country

Türkiye

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Software

Cost components

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

Revenue model

1. Video Game Sales: Permanent Way Entertainment develops and sells video games on a one-time purchase basis through digital distribution platforms including Steam, Epic Games Store, PlayStation Store, and Xbox Store. Revenue is generated from individual game sales to consumers.
2. Animation/Film Distribution: The studio produces animated feature films and distributes them through streaming platforms such as Apple TV and Prime Video, generating revenue through distribution licensing and sales.

Go-to-market motion1 record

Distribution channels7 records

Marketing channels7 records

Core offering

Permanent Way Entertainment is an indie game development and animation studio that designs, develops, and publishes action-adventure video games and animated feature films inspired by Middle Eastern, Persian, Mesopotamian, and Kurdish mythology. The studio distributes its games on PC (Steam, Epic Games Store) and consoles (PlayStation 5, Xbox), and its animated films via streaming platforms such as Apple TV and Prime Video.

Product overview

Permanent Way Entertainment is an indie game and animation studio developing video games and animated feature films. The company produces action-adventure hack-and-slash games (Blood of Mehran), story-driven adventure games (Legend of Baboo, The Land of the Magnates), and animated films (The Boy and the Sword, Legend of Sepehr). The portfolio spans multiple platforms including PC (Steam, Epic Games Store), consoles (Xbox, PlayStation 5), and streaming services (Apple TV, Prime Video). The studio has developed approximately 20 games for the domestic market and 12 for the international market, utilizing Unreal Engine 4 and 5 for development.

Differentiator

Problem solved

Functional benefit

Products and services

• Blood of Mehran Indie action-adventure video game inspired by Persian mythology, releasing on consoles and PC, targeted at mythology-driven action-adventure game fans.
• The Boy and the Sword Animated feature film rooted in Persian and Mesopotamian folklore, distributed on streaming platforms for global audiences.
• Legend of Sepehr Animated feature film inspired by Middle Eastern folklore, distributed on streaming platforms and recognized at international film festivals.
• The Land of the Magnates Indie video game from the studio's catalog, distributed on PC and consoles for mythology-driven action-adventure game fans.
• Murder in Tehran's Alleys 1933 Indie video game from the studio's published catalog, distributed on PC and consoles.
• Murder in Tehran's Alleys 2016 Indie video game from the studio's published catalog, distributed on PC and consoles.
• Alimardan's Mischief's Indie video game from the studio's published catalog, distributed on PC and consoles.
• Alimardan Meet Merlin Indie video game from the studio's published catalog, distributed on PC and consoles.
• Qajary Cat Indie video game from the studio's published catalog, distributed on PC and consoles.
• The Way of Love: Sub Zero Indie video game from the studio's published catalog, distributed on PC and consoles.
• Devil In The Capital Indie video game from the studio's published catalog, distributed on PC and consoles.
• Forgotten Sound: Destiny Indie video game from the studio's published catalog, distributed on PC and consoles.
• Legend of Baboo Indie video game from the studio's announced lineup, planned for release on Xbox and PC.

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature1 record

Partnerships

Four partnerships are on record, tiered core.

• Blowfish StudioscoreChannel Partner/ Reseller/ Distributor · 17 September 2025Blowfish Studios serves as the publisher for Blood of Mehran, handling distribution across PlayStation 5, Xbox Series X|S, Steam, and Epic Games Store. The publisher is credited on the game's official store pages and marketing materials.
• Octane MultiMediacoreStrategic or Co-development Partner · 18 May 2025Octane MultiMedia collaborated with Permanent Way Entertainment on the production and release of The Boy and the Sword animated feature film, which was released on Apple TV and Prime Video.
• GlobalWatch FilmcoreStrategic or Co-development Partner · 18 May 2025GlobalWatch Film collaborated with Permanent Way Entertainment on the Legend of Sepehr animated feature film, which won the Remi Gold Award at WorldFest-Houston International Film Festival 2025.
• Midwest GamescoreChannel Partner/ Reseller/ Distributor · 2 November 2024Midwest Games co-announced The Legend of Baboo alongside Permanent Way Entertainment during the Xbox Partner Preview event, acting as a publishing partner for the game's release on Xbox and Steam platforms.

Scale indicators2 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Supergiant Games: US-based indie studio of similar small size behind Hades, Bastion and Pyre. Highly comparable on action-adventure narrative gameplay, premium one-time-purchase model and cross-platform PC/console releases.
• WayForward Technologies: US indie studio of similar small-to-mid size with a long catalog across console and PC. Comparable on multi-game indie development, action-adventure gameplay and multi-platform publishing partnerships.
• TaleWorlds Entertainment: Turkish indie game studio founded around the same era as Permanent Way, best known for the Mount & Blade action-RPG franchise. Closely comparable on geography, indie development model, action-driven genre focus and scale.
• Sabotage Studio: Canadian indie studio behind The Messenger and Sea of Stars. Directly comparable on small-team action-adventure indie development, premium pricing and multi-platform console/PC releases.
• Thunder Lotus Games: Canadian indie studio of similar size behind Spiritfarer and Jotun. Comparable on action-adventure indie development, narrative focus and Steam-led premium distribution.
• Amanita Design: Czech indie studio behind Machinarium, Samorost and Creaks. Comparable on small-team indie development, distinctive artistic style, adventure gameplay and premium one-time-purchase PC/console releases.
• Studio MDHR: Canadian indie studio behind Cuphead, of comparable size and artistic ambition. Comparable on small-team indie development, distinctive visual style, action gameplay and multi-platform premium distribution.
• Cartoon Saloon: Irish animation studio behind Wolfwalkers and The Secret of Kells, comparable on small-team animated feature production, culturally distinctive storytelling and international festival awards profile relevant to Permanent Way's animation business.
• Red Thread Games: Norwegian indie studio focused on narrative-driven adventure games including Dreamfall Chapters. Comparable on story-led design, premium PC/console distribution and small-team indie operations.

Broad incumbents

• 11 bit studios: Polish studio and publisher behind This War of Mine and Frostpunk. Comparable on premium narrative/strategy indie development and PC/console distribution, though larger and also operates publishing for third parties.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/permanent_way
• YouTubeyoutube.com/@Permanent_way
• LinkedInlinkedin.com/company/permanentway-entertainment
• Instagraminstagram.com/permanentwaystudio

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

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 PERMANENTWAY ENTERTAINMENT