DON'T NOD
DON'T NOD is an independent French video game developer and publisher creating narrative-driven games across adventure, RPG, and action genres. Headquartered in Paris with a Montréal studio, it develops original IPs and co-produces titles with Netflix, ESA, and major publishers.
- Company typePublic
- Founded2008
- HeadquartersParis, France
- Headcount—
- GTM typeB2C
- OfferingSoftware
What DON'T NOD does
DON'T NOD is an independent French video game developer and publisher founded in 2008 and listed on Euronext Growth Paris (ticker ALDNE) since May 2018. The company specializes in narrative-driven games across adventure, RPG, and action-adventure genres, operating from its Paris headquarters and a secondary Montréal studio. Its portfolio includes 8+ original IPs such as Life is Strange, Tell Me Why, Twin Mirror, Vampyr (over 2 million copies sold since 2018), Banishers: Ghosts of New Eden, Harmony: The Fall of Reverie, Jusant, Lost Records: Bloom & Rage, and the April 2026-released sci-fi title Aphelion.
Core technology centers on proprietary narrative storytelling systems enabling branching storylines, player choice mechanics, and emotionally driven character development, combined with multi-genre development capability across adventure, RPG, and action-adventure. The April 2026 Aphelion release incorporates collaboration with the European Space Agency for scientific authenticity in space exploration. Distribution architecture spans Steam, Epic Games Store, PlayStation Store, Xbox Store, Nintendo Switch eShop, with day-one availability on Xbox Game Pass and integration into PS Plus for select titles.
Revenue is generated through four streams: one-time digital and physical game sales of self-published titles; royalty income from publishing partners including Square Enix, Microsoft, Bandai Namco Entertainment, Focus Entertainment, and Capcom; development fees under strategic co-production agreements (notably a Netflix partnership for a major-IP narrative game delivering €3.8 million in 2025 milestones); and third-party publishing of externally developed games (PortaPlay, Tiny Bull Studios, Studio TOLIMA) where DON'T NOD holds majority IP rights. Tencent Holdings invested €30 million in January 2021 as part of an approximately €40 million capital increase, retaining a minority stake and board representation until 2026. In 2025, the company reported €13.7 million in revenues (more than quadrupled from €3.3M in 2024) and €20.8 million in total operating revenues, alongside a Paris studio reorganization and employment protection plan that generated over €4.5 million in annual savings.
DON'T NOD firmographics
Firmographics- Name
- DON'T NOD
- Legal name
- DON'T NOD
- Website
- https://dontnod-bourse.com
- Company type
- Public
- Founded year
- 2008
- Operating status
- Operating
- Short description
- DON'T NOD is an independent French video game developer and publisher creating narrative-driven games across adventure, RPG, and action genres. Headquartered in Paris with a Montréal studio, it develops original IPs and co-produces titles with Netflix, ESA, and major publishers.
- Ownership category
- akta.pro rank
DON'T NOD industry classification
Industry- Product category
- Video Game Development and Publishing
- NAICS
- Software Publishers (51321)
- akta.pro primary industry
- Full-Service Game Publishers (1st/2nd/3rd-Party Publishing) (MPAFABAA)
- akta.pro secondary industry
- Co-Development, Porting & Remaster Studios (MPAFAAAM)
Keywords
Where DON'T NOD is headquartered
LocationHeadquarters
- HQ city
- Paris
- HQ country
- France
- HQ region
- Europe
Offices2 records
Markets served
DON'T NOD business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Others
Revenue model
- Video Game Sales: Direct sales of self-published games through digital distribution platforms (Steam, Epic Games Store, PlayStation Store, Xbox Store, Nintendo Switch eShop) and retail editions. Revenue includes front-line sales and ongoing back catalog performance.
- Royalties from Publishing Partners: Royalty income from major publishers including Square Enix, Microsoft, Bandai Namco Entertainment, Focus Entertainment, and Capcom for co-produced and licensed games.
- Development Revenues: Development fees received for game development services, particularly from Netflix partnership for narrative game based on major IP. Also includes milestone-based development payments.
- Third-Party Publishing: Revenue from publishing games developed by external studios (PortaPlay's Gerda: A Flame in Winter, Studio TOLIMA, Tiny Bull Studios) where DON'T NOD holds majority IP rights.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| One time/ perpetual license | Pay-as-you-go | Standard Video Game Release |
Go-to-market motion3 records
Distribution channels7 records
Marketing channels6 records
DON'T NOD product offering
Product offeringCore offering
DON'T NOD is an independent French video game developer and publisher that creates original narrative-driven games across adventure, RPG, and action genres. The company both develops in-house intellectual properties (such as Life is Strange, Vampyr, Tell Me Why, Twin Mirror, Banishers, Harmony, Jusant, Lost Records, and Aphelion) and publishes third-party titles (such as Gerda: A Flame in Winter). Games are distributed globally through digital platforms (Steam, Epic Games Store, Xbox, PlayStation, Nintendo Switch) and publisher partnerships (Square Enix, Microsoft, Bandai Namco, Focus Entertainment, Capcom).
Product overview
DON'T NOD is an independent French video game publisher and developer with studios in Paris and Montréal. The company creates original narrative games across multiple genres including adventure (Life is Strange™, Tell Me Why™, Twin Mirror™), RPG (Vampyr™, Banishers: Ghosts of New Eden™), and action (Remember Me™). DON'T NOD operates both as a developer creating in-house IPs (Aphelion™, Harmony: The Fall of Reverie™, Jusant™, Lost Records: Bloom & Rage™) and as a publisher of third-party games (Gerda: A Flame in Winter, co-productions with Tiny Bull Studios and Studio TOLIMA). The company also collaborates with Netflix on a major narrative game IP and has partnered with the European Space Agency for Aphelion™. DON'T NOD has worked with publishers including Square Enix, Microsoft, Bandai Namco Entertainment, Focus Entertainment, and Capcom.
Differentiator
Problem solved
Functional benefit
Products and services
- Life is Strange™ Critically acclaimed narrative adventure game franchise featuring episodic storytelling and player-driven choices that impact the story outcome.
- Tell Me Why™ Episodic narrative game developed in collaboration with Microsoft, featuring emotionally compelling storytelling.
- Twin Mirror™ Psychological thriller adventure game - the first self-published game by DON'T NOD. Features a player-driven narrative with malleable storyline.
- Vampyr™ Action RPG set in vampire-themed universe. Has sold over 2 million copies worldwide since June 2018.
- Remember Me™ Action-adventure game featuring memory manipulation gameplay mechanics.
- Banishers: Ghosts of New Eden™ Action-RPG developed in partnership with Focus Entertainment.
- Harmony: The Fall of Reverie™ In-house developed IP with narrative-focused gameplay.
- Jusant™ In-house developed IP with narrative-focused gameplay.
- Lost Records: Bloom & Rage™ Narrative adventure game developed by DON'T NOD Montréal, created by the original Life is Strange team. Awarded Fan Choice Award at 2026 Canadian Game Awards.
- Aphelion™ Sci-fi action-adventure game developed in collaboration with the European Space Agency (ESA). Players explore planet Persephone as ESA astronauts Ariane and Thomas. Released April 28, 2026 on PC, Xbox Series X|S, and PlayStation 5. Xbox Play Anywhere title with day-one Game Pass availability.
- Gerda: A Flame in Winter Narrative RPG-lite game developed by Danish studio PortaPlay and published by DON'T NOD. Set during German occupation of Denmark in World War II, inspired by real resistance fighter events.
- Netflix Narrative Game Narrative game based on a major Netflix intellectual property, developed in partnership with Netflix. Development revenues of €3.8 million recorded in 2025.
Quantifiable outcome
- Vampyr has sold over 2 million copies worldwide since June 2018
- +2 more outcomes
Companies that use DON'T NOD
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles4 records
DON'T NOD technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
DON'T NOD partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered core, minor and flagship.
- Square EnixcoreLong-standing publishing partner for Life is Strange franchise including Life is Strange 2. Square Enix External Studios co-developed and published Life is Strange titles, establishing the franchise's global success.
- MicrosoftcorePublishing partner for Tell Me Why, an episodic narrative game. Microsoft published the game on Xbox and PC platforms, with Episode 1 offered free.
- Bandai Namco EntertainmentcorePublisher for Twin Mirror, Bandai Namco's first foray into the Narrative Adventure genre. The psychological thriller was published across PlayStation 4, Xbox One, and PC.
- Focus EntertainmentcorePublishing partner for Banishers: Ghosts of New Eden (action-RPG) and co-production partner for action-RPG projects including Project 8. Long-term collaboration in action-RPG segment.
- CapcomminorHistorical publishing partner mentioned in company overview for various game releases.
- EPIC GamescoreDON'T NOD signed strategic agreement with Epic Games for Twin Mirror, becoming co-producer. Twin Mirror released on Epic Games Store before expanding to Steam. Epic's Unreal Engine likely used for development.
- NetflixflagshipStrategic partnership with Netflix for development of narrative-driven game based on a major Netflix intellectual property. This collaboration represents significant development revenue and positions DON'T NOD as storytelling specialist for major IPs. First milestones delivered in 2025.
- European Space Agency (ESA)flagshipCollaboration with ESA for Aphelion sci-fi action-adventure game. ESA provides authentic space science knowledge and humanistic values, grounding the game's depiction of space exploration in real scientific accuracy. ESA astronauts Ariane and Thomas are part of fictional Hope-01 mission.
- PortaPlaycoreCo-production partnership with Danish studio PortaPlay for Gerda: A Flame in Winter, a narrative RPG-lite game released September 2022. DON'T NOD publishes the game and holds most IP rights. First third-party published game by DON'T NOD.
- Studio TOLIMAcoreCo-production partnership with Belgian studio TOLIMA (Brussels, founded 2022) for original minimalist game. DON'T NOD holds majority rights to the IP and provides publishing support and marketing expertise.
- Tiny Bull StudioscoreCo-production partnership with Italian indie studio Tiny Bull Studios (Turin, active since 2013, ~15 people) for action-RPG game. DON'T NOD will share Vampyr expertise and hold majority IP rights.
Scale indicators10 records
Recent moves8 records
Expansion highlights6 records
DON'T NOD competitors and assessment
Company assessmentDirect peers
- Remedy Entertainment: Finnish developer of narrative-driven action games (Alan Wake, Control, Max Payne). Comparable as a publicly listed, narrative-focused studio with multi-genre expansion ambitions and self-publishing growth.
- Quantic Dream: French independent studio (Heavy Rain, Detroit: Become Human) that builds high-budget narrative-driven adventure games, closely mirroring DON'T NOD's genre focus, narrative specialism and European base.
- Deck Nine Games: US studio that developed Life is Strange: True Colors and is the most direct narrative-adventure peer; comparable size, episodic narrative design and similar publisher relationships (Square Enix).
- Supergiant Games: Independent US studio behind Hades, Bastion, Transistor. Closely comparable as a narrative-focused indie/small studio with strong critical reputation and multi-genre releases.
- Telltale Games: Pioneer of episodic narrative adventure games (Walking Dead, Wolf Among Us) — historically the most direct narrative-adventure peer for DON'T NOD's Life is Strange-style titles.
Broad incumbents
- Focus Entertainment: French publisher and DON'T NOD's publishing partner for Banishers. Comparable as a French-headquartered game publisher with strong narrative/AA catalog and similar European distribution footprint.
- Larian Studios: Belgian RPG developer (Baldur's Gate 3) with European base and narrative-RPG focus. Comparable in geographic origin and RPG specialism, though much larger post-BG3 success.
- CD Projekt Red: Polish RPG developer (The Witcher, Cyberpunk 2077). Comparable as a European publicly listed narrative/RPG developer with multi-genre IP ambitions, though operating at significantly larger scale.
- Annapurna Interactive: Publisher specializing in narrative and indie titles (Stray, Outer Wilds, 12 Minutes). Comparable as a publisher of narrative-leaning third-party games with a similar editorial-vision-led approach to DON'T NOD's third-party publishing arm.
- Square Enix: Japanese publisher that owns the Life is Strange franchise and is DON'T NOD's longest-standing publishing partner. Comparable as a major narrative-RPG publisher across DON'T NOD's core categories.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
DON'T NOD social profiles
Digital presenceDON'T NOD financial estimates
Financial estimateRevenue estimate
Valuation estimate
DON'T NOD leadership team
Management profileNumber of profiles
Profiles7 records
DON'T NOD subsidiaries and ownership
Company hierarchySubsidiaries1 record
DON'T NOD funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
DON'T NOD M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about DON'T NOD
What does DON'T NOD do?
DON'T NOD is an independent French video game developer and publisher that creates original narrative-driven games across adventure, RPG, and action genres. The company both develops in-house intellectual properties (such as Life is Strange, Vampyr, Tell Me Why, Twin Mirror, Banishers, Harmony, Jusant, Lost Records, and Aphelion) and publishes third-party titles (such as Gerda: A Flame in Winter). Games are distributed globally through digital platforms (Steam, Epic Games Store, Xbox, PlayStation, Nintendo Switch) and publisher partnerships (Square Enix, Microsoft, Bandai Namco, Focus Entertainment, Capcom).
Is DON'T NOD a public or private company?
DON'T NOD is a public company. It is classified as public and is currently operating.
When was DON'T NOD founded?
DON'T NOD was founded in 2008.
Where is DON'T NOD based?
DON'T NOD is headquartered in Paris, France, in the Europe region.
How does DON'T NOD make money?
Four revenue lines are on record. Video Game Sales are the primary driver. The others are royalties from Publishing Partners, development Revenues and third-Party Publishing.
Who are DON'T NOD's main competitors?
Direct peers on record are Remedy Entertainment, Quantic Dream, Deck Nine Games, Supergiant Games and Telltale Games. Broad incumbents are Focus Entertainment, Larian Studios, CD Projekt Red, Annapurna Interactive and Square Enix.
Does DON'T NOD have an API?
No public API is recorded for DON'T NOD.
What industry is DON'T NOD in?
DON'T NOD's product category is Video Game Development and Publishing. Its primary akta.pro industry code is MPAFABAA, Full-Service Game Publishers (1st/2nd/3rd-Party Publishing), with a secondary code of MPAFAAAM, Co-Development, Porting & Remaster Studios. Its NAICS code is 51321.