News

Lucky’s Tale developer Playful Studios raises $23 million for spectator games

“We’re working on a large project It’s about the fact that video games are becoming a spectator sport”

Date Type Companies involved Size
September 2nd, 2019 investment Playful Studios $23m
Lucky’s Tale developer Playful Studios raises $23 million for spectator games

Lucky’s Tale developer Playful Studios has raised $23 million towards spectator games.

According to VentureBeat, the Texas-based studio raised its money from a variety of individual investors, similar to what the company did in 2016 when it raised $25 million towards Virtual Reality games such as Lucky’s Tale.

Rather than rely on banking institutions or venture capitalists, Playful Studios reached out to its global network of supporters, meeting with over 300 potential investors. To date, the firm has raised $48 million privately.

“We get to be completely transparent about our goals and why we are doing this,” said Playful Studios president and chief business officer Mark Stanley.

“The reason why we do it this way is because we capitalise ourselves in this manner and we can work on the games that we believe in.”

Spectator games

The money will be used to go beyond virtual reality and focus on more traditional platforms, putting spectators into the action of a game.

“We have turned to a new frontier that we are very excited about. It differs from anything we worked on before. We’re working on a large project. It’s about the fact that video games are becoming a spectator sport,” said Playful Studios CEO Pau Bettner.

“We see in our own audiences that we have more people watching people play our games on any given day than are actually playing them. I fundamentally believe that what we are saying with Twitch is the birth of a brand new platform for video games, a new way to enjoy interactive entertainment.”


Staff Writer

Kayleigh is the Staff Writer for PocketGamer.biz. Besides PGbiz and PCGI she has written as a list writer for Game Rant, rambling about any and all things games related. You can also find her on Twitter talking utter nonsense.

Comments

No comments
View options
  • Order by latest to oldest
  • Order by oldest to latest
  • Show all replies