Legal

Current Report 22/2025

3 December 20251 pages169 words

Summary

The Management Board of 11 bit studios S.A. has formalized a strategic licensing agreement with Microsoft Corporation to integrate several titles into the Game Pass subscription service. This partnership involves the upcoming game Death Howl alongside two existing titles currently managed by the company’s publishing division. By securing this arrangement, the Warsaw-based developer and publisher expands its digital distribution reach through one of the industry's most prominent subscription platforms, ensuring immediate access to a broad global audience upon the games' inclusion in the service. The financial implications of this agreement are projected to manifest primarily during the 2026 fiscal year. While specific monetary terms and individual title performance expectations remain confidential under market abuse regulations, the deal represents a significant milestone in the company’s commercial strategy for its mid-term release cycle. The scope of the agreement covers both internal development and third-party publishing efforts, highlighting a diversified approach to revenue generation through subscription-based licensing models. This disclosure follows regulatory requirements for public companies listed within the European Union, specifically addressing the dissemination of confidential information that could impact investor valuation. The agreement underscores a continued trend of major independent publishers leveraging platform-holder partnerships to mitigate market risk and secure upfront licensing revenue for both new intellectual properties and established catalog titles. This move aligns with the company's broader objective of stabilizing cash flows and maximizing the lifecycle value of its publishing portfolio across the North American and international gaming markets.

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Legal

Current Report 21/2025

The Management Board of 11 bit studios S.A. has finalized a licensing agreement with Microsoft Corporation to integrate several titles into the Game Pass subscription service. This strategic partnership covers the upcoming release Death Howl as well as two existing titles currently managed by the company’s publishing division. The arrangement ensures that Death Howl will be accessible to Game Pass PC subscribers starting December 9, 2025, with a subsequent rollout for Game Pass Xbox users coinciding with the game’s official console launch. This disclosure follows regulatory requirements regarding confidential information and market transparency, prompted by Microsoft’s public communication schedule. By securing these licensing rights, the Warsaw-based developer and publisher expands its reach across the global Microsoft ecosystem, targeting both PC and console demographics. The timing of the announcement reflects a coordinated effort to align corporate disclosures with consumer-facing marketing updates from the platform holder. Financially, the agreement is structured to influence the company’s performance metrics beyond the current fiscal year. While the integration of these titles begins in late 2025, the primary impact on financial results is projected for 2026. This suggests a revenue recognition model or payment structure tied to the long-term availability of the titles within the subscription catalog. The scope of the deal reinforces the company's ongoing strategy of leveraging subscription platforms to maximize the lifecycle and audience penetration of its internal and published portfolio.

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11 bit studiosDec 2025

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Current Report No. 2/2025: Publishing Agreement Signed with The Outer Zone

11 bit studios has formally expanded its publishing portfolio through a strategic agreement with the Danish developer The Outer Zone. This partnership centers on the upcoming release of Death Howl, a deck-building title set within a Stone Age-inspired Norse kingdom. The narrative follows a protagonist named Ro on a quest through a mythological landscape, blending tactical card-based mechanics with a somber, character-driven story. This addition aligns with the publisher's established reputation for supporting titles that feature mature themes and distinct artistic directions. The project is currently scheduled for a 2025 launch, with the initial release targeting the PC platform. By securing these publishing rights, the Warsaw-based company continues to strengthen its presence in the independent development scene, acting as a bridge for international studios to reach global audiences. The agreement represents a significant commitment to the title's commercial lifecycle, covering the distribution and promotional efforts necessary to bring the Danish studio's debut or sophomore efforts to market. This disclosure, issued in early 2025, serves as a formal notification of inside information under European market abuse regulations. It highlights the ongoing trend of Central European publishers seeking high-quality, niche genre projects from Nordic developers to diversify their release calendars. The scope of the announcement is focused specifically on the contractual relationship and the immediate production timeline for the game, signaling a clear milestone in the publisher's mid-term growth strategy for the fiscal year.

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Microsoft’s Activision Acquisition: Implications for the Cloud Gaming Market and Industry

This analysis examines the implications of Microsoft’s $68.7 billion acquisition of Activision Blizzard, specifically focusing on the cloud gaming remedies proposed to global competition authorities. The assessment centers on the ten-year commitment to provide free licenses for streaming Activision PC games to third-party cloud service providers. While the cloud gaming market remains a nascent segment—valued at $446 million in 2022 and representing less than 0.3% of global consumer spending—the acquisition is scrutinized due to Microsoft’s end-to-end control over cloud infrastructure and content. The findings suggest that the proposed remedies would significantly alter the market by increasing consumer access points and service provider choices. Under a "bring-your-own-game" (BYOG) model, consumers who purchase Activision titles or access them via subscriptions like Xbox Game Pass could stream those games on various competing platforms. This shift is expected to benefit BYOG service providers by enhancing their value propositions, though it may force them into routine adoption of these titles to remain competitive. Conversely, multi-game subscription services face greater complexity, as they would need to manage disparate licensing regimes for Activision content compared to their standard catalogs. Ultimately, the analysis concludes that while the remedies address certain competition concerns, they simultaneously extend Microsoft’s industry influence. By decoupling game licensing from specific streaming hardware, Microsoft can expand the reach of the Xbox Game Pass ecosystem and the Microsoft Store without further investment in cloud infrastructure. This strategy allows Microsoft to leverage third-party server capacity to grow its subscriber base, positioning Xbox Game Pass as the most cost-effective entry point for Activision content across a global, multi-platform footprint.

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Ampere AnalysisJun 2023

Legal

Current Report 20/2025: Establishment of the release date for the game "Death Howl"

The Management Board of 11 bit studios S.A. has officially scheduled the global release of the upcoming title Death Howl, developed by the Copenhagen-based studio The Outer Zone. The initial launch is set for December 9, 2025, specifically targeting the PC market through the Steam and GOG distribution platforms. This announcement serves as a formal update to previous corporate disclosures issued earlier in the fiscal year and fulfills regulatory transparency requirements regarding confidential market information. The release strategy follows a staggered platform rollout common in the contemporary gaming industry. While PC players will gain access in late 2025, the availability of the game on major console hardware—including PlayStation 5, Xbox Series X/S, and Nintendo Switch—is deferred until the first quarter of 2026. This timeline indicates a prioritized focus on the Windows environment for the holiday season, followed by a broader multi-platform expansion in the subsequent quarter. This disclosure is categorized as a current report under European Union market abuse regulations, reflecting the potential impact of product launch timelines on the valuation and investor relations of a publicly traded entity. By confirming these dates, the Warsaw-based publisher provides clarity on its short-term revenue pipeline and the operational progress of its partnership with external development studios. The scope of the announcement is limited to the specific release windows for these identified platforms and does not detail pricing or regional variations.

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11 bit studiosNov 2025

Current Report 22/2025

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