Shift Up confirmed that they are considering a PC port for Stellar Blade and are in the works of a new game tentatively called Project Witches. Read on to learn more about their statement and industry trends that may have influenced their decision.
Shift Up's Latest Developments
Exciting Updates on Stellar Blade and Future Plans
Shift Up, the renowned South Korean game development studio, has recently made headlines with significant updates on their current projects and future plans after their public filing with the Korea Composite Stock Price Index (KOSPI). Among these updates are the confirmation of plans for a Stellar Blade PC port, along with considerations for a sequel.
According to the latest reports, Shift Up looks to capitalize on Stellar Blade by exploring further avenues for the game’s expansion, including the possibility of a PC port and the development of a sequel, having surpassed initial sales projections.The move to consider a PC port signals the studio's commitment to reaching a broader audience and maximizing the game's potential across various platforms.
Venturing into New Territories with Project Witches
In parallel, Shift Up also announced they are working on a new game called Project Witches, slated for release in 2027. The studio plans to invest approximately 101 billion won (about 75 million USD) from the public offering funds secured through listing on the KOSPI into the development of new works, including Project Witches. With allocated budgets for each year leading up to 2027, Shift Up aims to bring its ambitious project to fruition while recruiting development personnel throughout the year.
Project Witches is described as a cross-platform endeavor, allowing players to immerse themselves in the game across mobile, PC, and console.
Strategic Expansion and Creative Vision
Shift Up envisions a roadmap for continuous growth, with plans to introduce new projects every 2 to 3 years. Each project is expected to undergo a development period of 4 to 5 years, involving a workforce of approximately 100 to 150 people. In addition to internal development, the company also aims to 'secure' intellectual property (IP), with funds allocated for IP acquisition starting from 2024.
As Shift Up progresses towards its Initial Public Offering (IPO) on the Korean stock exchange, a process where they’re opening their stocks to the public, anticipation is building not only for the studio's financial prospects but also for its creative endeavors. With Stellar Blade's success paving the way for future projects and Project Witches on the horizon, Shift Up is poised to continue its legacy of innovation and excellence in the gaming industry.
Navigating Market Dynamics and Strategic Opportunities
In other news, the gaming industry landscape is witnessing notable shifts, particularly in the PC and console gaming markets, as detailed by Newzoo's latest insights. In 2023, PC game revenues surged by over 8% year over year, contrasting with a more modest growth rate for console games. The global games market, generating $183.9 billion in 2023, saw a slight uptick of 0.5% in year-on-year growth, signifying a recovery from previous stagnation. Notably, downloaded and boxed PC games exhibited the highest growth rate among segments, indicative of a resurgence in PC gaming.
Consumer spending on games was significantly concentrated, with the US and China collectively accounting for a substantial 50% of all spending. While the Middle East & Africa market experienced growth, accounting for 4% of total revenues globally, the Asia-Pacific region remained dominant with 46% of the global market, despite a -0.2% year-over-year (YoY) growth dip.
With Newzoo projecting global games market revenues to reach $207.0 billion in 2026, with a total games market compound annual growth rate (CAGR) (2021-2026) of +1.4%, the gaming industry shows resilience and potential for growth. Shift Up's strategic decision to explore PC porting, following the success of Stellar Blade, initially launched as a PS5 exclusive, aligns with broader industry trends. By broadening accessibility to their acclaimed titles, Shift Up aims to capitalize on the growing demand for high-quality gaming experiences across diverse platforms.
Source:
Shift Up’s Public Filing on the Korea Composite Stock Price Index
Project Witches Confirmation
Newzoo Report
