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Analyst Comment

Starbreeze announces another third-party publishing project

By Anton DamsténAnalyst
Starbreeze

Starbreeze will publish the game GodsTV, developed by Melbot Studios. The game is set to be released in early 2026, and Starbreeze will support the funding, marketing, community management, and release management of the game.

According to the developer, Melbot Studios, GodsTV is a multi-player “cartoon punk”, top-down action title. In GodsTV players are contestants in a deranged TV– show, a mashup of action, humor, and bizarre characters. Alien corporations, who present themselves as “Gods”, offer players unique abilities and products to fight for ultimate stardom.

Melbot Studios is an independent game developer based in Barcelona that previously released the game Melbits, a cooperative puzzle-platformer game. The company was founded in 2017 and has, according to LinkedIn, 22 employees.

GodsTV is the fourth third-party publishing project announced by Starbreeze following The Tribe Must Survive, Roboquest, and the Fortnite island Turtle vs Turtle. Starbreeze established its third-party publishing operations in 2022 to leverage its experience as a developer and publisher to help other developers bring their games to market. A thriving publishing division would help diversify Starbreeze’s revenues, which currently depend entirely on the PAYDAY franchise. Starbreeze’s press release did not contain any information regaring their monetary commitment to GodsTV or the game’s budget.

Starbreeze operates in the gaming industry and focuses on the development, publishing and distribution of computer games and interactive entertainment. The company's portfolio includes both its own games and collaborations with other game developers. The business is aimed at gamers and distributors globally, with the largest operations in Europe. Starbreeze was founded in 1998 and is headquartered in Stockholm, Sweden.

Read more on company page

Key Estimate Figures2023-10-03

202223e24e
Revenue127.6612.9272.5
growth-%1.5 %380.4 %-55.5 %
EBIT (adj.)6.7366.5-17.8
EBIT-% (adj.)5.3 %59.8 %-6.5 %
EPS (adj.)-0.080.26-0.01
Dividend0.000.000.00
Dividend %
P/E (adj.)neg.0.4neg.
EV/EBITDA18.1neg.neg.

Forum discussions

Christoffer and Atte have prepared a new company report on Starbreeze after the Q3 results. \nStarbreeze reported Q3 revenue in line with expectations...
11/12/2025, 8:50 AM
by Sijoittaja-alokas
3
Hi! Our analyst Christoffer interviewed Starbreeze’s CEO today in connection with their Q3 report. Check it out here, the interview is in English...
11/11/2025, 3:05 PM
by Jesper Hagman
5
There isn’t much to share in the coffers; even those small amounts go purely into running the bureaucracy and finding a party that would then...
11/11/2025, 12:40 PM
by Arvuuttaja
0
Optimization would require expertise, and most of the Payday 2 developers left the company even before PD3’s release. Payday 3 and Baxter paint...
11/11/2025, 12:22 PM
by Trivial
1
And there are no changes in player data for Payday 3, so the promising start at the beginning of the year sharply turned back to its lowest ...
11/11/2025, 11:51 AM
by Arvuuttaja
1
Here are Jenneli’s quick comments on Starbreeze’s Q3 results. Starbreeze reported Q3 revenue in line with expectations, but adjusted profitability...
11/11/2025, 10:50 AM
by Sijoittaja-alokas
1
@christoffer.jennel has given his preliminary comments as Starbreeze reports its Q3 results next week on Tuesday. *The quarter is dominated ...
11/7/2025, 8:25 AM
by Sijoittaja-alokas
2
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