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GamesIndustry.biz
GamesIndustry.biz
· 6 months ago • Alex Forbes-Calvin

"They wouldn't look at any game that was less than £50 million" Why Tencent's all-in strategy didn't suit Bulkhead

Briefing

Bulkhead's journey illustrates the complexities of navigating funding from major players like Tencent. Initially thriving under indie budgets, the studio faced pressure to scale its projects to meet Tencent's £50 million threshold, a demand that clashed with their vision for games like Wardogs. This tension culminated in Bulkhead's transition to a new holding company, Super Media Group, allowing them to retain creative control while still benefiting from previous partnerships.

For developers, this case serves as a reminder of the importance of aligning project scope with funding expectations. As the industry evolves, understanding the balance between ambition and feasibility becomes crucial, especially for studios aiming to maintain their identity amidst corporate pressures.

“We were too big for Collective, too small for Square Enix.”

— Joe Brammer · Describing Bulkhead's struggle in the industry.
At a glance
what
Bulkhead transitions to Super Media Group after challenges with Tencent.
who
Bulkhead, Tencent, Team17, Splash Damage.
when
Bulkhead split with Square Enix in 2022; new ownership established in 2025.
impact
Indie developers may face pressures to scale projects beyond their vision.
Signal Mixed

While Bulkhead found new ownership, the journey reflects significant challenges.

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