Payday 3 developer Starbreeze Studios said that its PUBG collaboration project has been the "single largest revenue contributor" this last quarter.
In the company's interim report for the period of January to June 2025, Starbreeze emphasized that leveraging the "full potential of the Payday IP" continues to be a "key strategic priority" for the studio.
"Our PUBG project continues to perform ahead of expectations and stands as a testament to the strength of our internal development capabilities," Starbreeze CEO Adolf Kristjansson said in the financial report. "During the quarter, it was our single largest revenue contributor, demonstrating both commercial viability and production excellence."
This is in reference to the partnership between Starbreeze and Krafton announced back in December 2024. In short, while Starbreeze retains full ownership of the Payday intellectual property, Krafton acquired the rights to incorporate and adapt it within PUBG.
"The partnership reflects Starbreeze’s strategy to maximize the potential of the Payday IP and having a broader portfolio of projects under development," read the announcement at the time.
As detailed by Starbreeze, it seems this collaboration is paying off. In the second quarter of 2025, work-for-hire, which is how the studio referred to the collaboration back in December, accounted for SEK 19.6 million (around $2 million) of net sales. The total of SEK 53.8 million (around $5.6 million) also comprised SEK 8 million (around $834,435) from Payday 2, SEK 17.7 million (around $1.8 million) from Payday 3, and SEK 6.7 million (around $698,864) from third-party publishing.
Starbreeze says recent strategic focus and organizational changes have 'started bearing fruit'
Starbreeze has been steadily shaking things up internally this year. Last week, the company appointed EA veteran Jonas Skantz as general manager of the Payday Franchise. This was the second managerial change of 2025, with fellow EA veteran Adolf Kristjansson being appointed as the new CEO with the goal of turning the company into a "true multi-title studio."
These changes came after Starbreeze explained Payday 3 was performing at "significantly lower levels" than it would have liked by February 2024. As noted in Starbreeze's fiscal report for the full-year ended December 2024, the company delivered annual net sales of SEK 185.9 million (around $17.3 million), compared to SEK 633.5 million ($58.1 million) recorded in FY2023.
Now, Kristjansson is optimistic about the future of the franchise. "Our strategic focus on the Payday franchise, proactive organizational changes, and emphasis on sustainable growth have started bearing fruit, guiding us on our path towards becoming an agile, profitable, and a proven leader in building and sustaining world-class IP," he said in the report.
According to Starbreeze, the focused approach on "enhancing player experience in Payday 3" continues to show "incremental improvements" in player numbers and community sentiment, which the CEO considers "vital indicators for long-term franchise growth."
Regarding the recent organizational changes, Kristjansson said Q2 marked significant steps towards simplifying Starbreeze's organizational structure, enhancing transparency, and empowering faster decision-making. Core studio functions now report directly to the CEO, and the studio has established three dedicated teams running Payday, its work-for-hire projects, and Baxter, the latter being Starbreeze's next internal project set in the world of Dungeons and Dragons. "These are now fully accountable for their respective financial performance, fostering a culture of ownership, agility, and creativity throughout the organization," Kristjansson said.
"Our refined organizational structure, clear strategic priorities, and commitment to delivering engaging gaming experiences position us strongly for sustainable success," the CEO added. "I remain confident in our direction and deeply appreciative of the team's relentless passion, creativity, and determination."
