Highlights

  • Noodlecake Studios has entered a publishing and development support agreement with game developer Sequence Break.
  • The partnership centres on a new premium PC and console title currently operating under the working title "Project DS".
  • Initial development activities are focused on delivering a vertical slice milestone during CY2026, with broader commercial rollout targeted for 2027.

Streamplay Studio Limited (ASX:SP8) has announced that its wholly owned subsidiary, Noodlecake Studios, has entered into a publishing and development support agreement with independent game developer Sequence Break for a new premium title currently known as "Project DS". The project is being developed for PC and console platforms and represents another step in Noodlecake's strategy to expand its presence in premium multi-platform game publishing.

The announcement comes as Streamplay shares traded flat at AUD 0.009 during trading on 16 June 2026. The stock has declined 10.00% over the past 12 months. While the market showed little immediate reaction to the latest update, the agreement adds another title to Noodlecake's growing portfolio of premium publishing projects.

Streamplay Studio operates across game development, publishing, esports, streaming and telecommunications-related digital services. Through its North American subsidiary Noodlecake Studios, the company has built a substantial presence in the gaming industry, publishing more than 60 titles and achieving over 270 million downloads globally. The latest agreement reflects Streamplay's continued efforts to broaden its exposure beyond mobile gaming and strengthen its position in the premium PC and console segment.

New Publishing Agreement Focuses on Project DS

At the centre of the announcement is a new partnership between Noodlecake and Sequence Break, an independent game development studio with experience across several well-known gaming franchises.

Under the agreement, Noodlecake will provide development assistance and publishing support through a milestone-based structure commonly used within the gaming industry. The arrangement covers both development and commercial publishing activities as Project DS progresses toward launch.

The game is currently being developed as a premium title for PC and console platforms. While detailed gameplay information remains limited, the companies have confirmed that the project will feature original gameplay systems and will be designed around both solo and cooperative experiences.

Development efforts are currently focused on achieving a vertical slice milestone during calendar year 2026. In game development, a vertical slice typically represents an early demonstration of core gameplay systems and production quality, helping guide future development and commercial planning.

Broader commercial rollout activities are currently targeted for 2027, subject to development progress and milestone achievement.

Building on a Previous Working Relationship

One of the notable aspects of the agreement is that it extends an existing relationship between Noodlecake and Sequence Break.

The two companies previously worked together on Soundfall, a rhythm-based cooperative action game that launched simultaneously across PC, Xbox, PlayStation and Nintendo Switch platforms in 2022.

According to Streamplay, Soundfall has achieved more than 200,000 lifetime installs across PC and console platforms and has generated over US$1.5 million, equivalent to approximately A$2 million, in gross platform revenue.

The previous collaboration provided Noodlecake with experience supporting Sequence Break through multi-platform development, certification requirements and commercial launch activities.

That operational familiarity appears to have played a role in the decision to support Sequence Break's next project at a much earlier stage of development.

The prior working relationship may also provide advantages in terms of production coordination, platform engagement and publishing execution as Project DS advances.

Project DS Targets Replayable Cooperative Gameplay

While Project DS remains in development, Streamplay provided insight into the intended direction of the title.

The game is being built around replayable single-player and cooperative gameplay experiences, with a focus on long-term progression systems and stylised world-building.

According to the company, the title will combine procedural gameplay elements, persistent progression mechanics and player-driven encounters designed to encourage replayability.

The project is intended to support both solo players and cooperative groups, reflecting broader industry interest in social gaming experiences that encourage long-term engagement.

Streamplay noted that Sequence Break has developed expertise in combining different gameplay genres, and Project DS is expected to continue that approach through original gameplay systems and a distinctive creative direction.

The game is currently being developed using Unreal Engine 5, one of the industry's most widely used game development platforms.

Management also indicated that future content updates and downloadable expansions may form part of the title's longer-term commercial strategy following release.

Experienced Development Team Supports Production

Another element highlighted in the announcement is the background of the development team involved in Project DS.

Sequence Break includes developers and creatives whose experience spans several globally recognised gaming franchises.

The team has worked on titles including Fortnite, Diablo IV, Risk of Rain 2, Gears of War, League of Legends and Terraria.

These franchises collectively represent a broad range of gaming genres, including action, role-playing, cooperative multiplayer and competitive online experiences.

For Streamplay, partnering with a development studio that has experience across multiple successful gaming properties may support the execution of Project DS as development progresses.

The company also pointed to Sequence Break's expertise in cooperative gameplay systems, which aligns with the core design philosophy outlined for the project.

Noodlecake Expands Beyond Traditional Mobile Publishing

The agreement also reflects a broader strategic shift within Noodlecake's publishing operations.

Historically, Noodlecake has built a reputation through mobile publishing, mobile game adaptations and platform porting projects. However, recent initiatives indicate a growing emphasis on premium PC and console publishing opportunities.

Project DS joins a pipeline that includes other premium titles and demonstrates the company's intention to participate earlier in the development lifecycle of gaming projects.

Unlike traditional porting agreements, premium PC and console publishing arrangements often involve multi-year relationships that begin during active development and continue through launch and post-release support.

This model allows publishers to contribute to production planning, marketing strategy, platform engagement and commercial execution over a longer period.

For Noodlecake, this approach creates opportunities to participate in the long-term commercial performance of successful titles.

Commercial Structure Designed Around Long-Term Participation

Although specific financial terms of the agreement were not disclosed, Streamplay provided insight into the structure of the arrangement.

The company stated that Noodlecake is expected to recover its staged development investment before transitioning into longer-term performance-based revenue participation.

This means the publisher's involvement extends beyond development support and includes participation linked to commercial outcomes following release.

The structure is consistent with Noodlecake's broader publishing strategy, which generally combines milestone-based funding, cost recoupment and ongoing revenue participation.

Management noted that commercial arrangements can vary depending on development requirements, financing commitments and technical involvement.

By entering projects earlier in the development cycle, Noodlecake gains opportunities to contribute strategically while potentially benefiting from successful commercial launches.

Platform and Marketing Opportunities Remain Under Evaluation

Beyond development support, the agreement allows Noodlecake to pursue additional commercial initiatives throughout the game's lifecycle.

The company indicated that it may engage with platform partners regarding funding opportunities, promotional support and broader distribution initiatives.

Potential marketing arrangements, subscription services and exclusivity opportunities may also be evaluated where commercially appropriate.

Such opportunities can play an important role in increasing visibility for independent games within increasingly competitive digital storefronts.

The ability to engage with platform holders throughout development may help position the title for future showcase participation, promotional campaigns and launch support.

As development progresses, investors may receive further updates relating to platform milestones, commercial partnerships and release planning.

Industry Trends Support Cooperative Gaming Experiences

Streamplay believes Project DS aligns with broader trends within the gaming industry.

The company highlighted growing demand for replayable social and cooperative gaming experiences across premium PC and console markets.

Games that combine long-term progression systems with cooperative gameplay have attracted considerable player engagement in recent years, particularly when supported by ongoing content updates and community-driven experiences.

Project DS has been designed around many of these elements, including persistent progression mechanics and evolving encounters intended to encourage repeat play.

While commercial success cannot be predicted at this stage of development, management views the project as consistent with current market preferences within the premium gaming segment.

What This Means for Investors?

The Project DS agreement represents another step in Streamplay's strategy to expand Noodlecake's premium PC and console publishing business. By partnering with Sequence Break at an earlier stage of development, the company is broadening its publishing pipeline beyond mobile adaptation and porting projects while positioning itself for potential long-term participation in a new intellectual property.

The partnership also builds on an established relationship that previously resulted in Soundfall, a title that generated more than A$2 million in gross platform revenue and achieved over 200,000 installs. As development progresses through 2026 and toward a targeted commercial rollout in 2027, investors will likely monitor milestone achievements, platform announcements and future production updates relating to Project DS.