Highlights

  • Streamplay Studio shares rose 12.50% to AUD 0.009 during the morning session on 21 July 2026 following a commercial update for Winter Burrow.
  • Winter Burrow has generated approximately A$5.7 million in cumulative gross revenue since launching in November 2025.
  • The game has recorded more than 700,000 downloads, purchases and player activations, including approximately 475,000 Xbox Game Pass activations.
  • A recent Steam Daily Deal campaign generated around US$93,000, or approximately A$143,000, in gross revenue from about 8,000 unit sales during its first week.
  • Mobile versions for the Apple App Store and Google Play are targeted for release on 30 September 2026.

Streamplay Studio Limited (ASX:SP8) shares climbed 12.50% to AUD 0.009 during the morning session on 21 July 2026 after the company reported another commercial milestone for Winter Burrow, a game published by its wholly owned subsidiary, Noodlecake Studios. The stock remains 10.00% lower over the past year, but the latest market move followed confirmation that the title had surpassed approximately A$5.7 million in cumulative gross revenue and was preparing to expand into mobile gaming.

The announcement was favourable in nature, as it showed that Winter Burrow continued generating revenue beyond its initial launch period across Steam, Xbox and Nintendo Switch. The company also outlined a planned mobile release, sustained wishlist interest, higher sales during a recent Steam promotion and continued player activity across supported platforms. These developments appear to have supported investor interest in Streamplay Studio shares during the morning session.

Streamplay Studio owns North America-based Noodlecake Studios, an indie game developer and publisher with more than 60 published titles and over 270 million downloads worldwide. The broader business participates in game development, publishing, esports, streaming and telecommunications-related services across North America, Australia, the Middle East, Africa and the Pacific Islands. Noodlecake focuses on original intellectual property and publishing partnerships across mobile, personal computer, console and cloud gaming platforms.

Winter Burrow Extends Revenue Beyond Its Launch Period

Winter Burrow has now generated approximately A$5.7 million in cumulative gross revenue since its global release in November 2025.

The title initially produced around A$3 million within the first 20 days of launch across Steam, Xbox and Nintendo Switch. Since that earlier milestone, it has generated a further approximately A$2.7 million, demonstrating that commercial activity continued after the initial release period.

The game has also recorded more than 700,000 cumulative downloads, purchases and player activations across its supported storefronts. This figure includes approximately 475,000 activations through Xbox Game Pass.

The continued contribution from multiple platforms is consistent with Noodlecake’s strategy of distributing selected indie games across a broad range of storefronts and device ecosystems. Rather than relying on one sales channel, the publisher has positioned Winter Burrow across direct purchases, subscription-based player access and promotional activity.

The revenue update does not provide a breakdown of how much each platform contributed to the A$5.7 million total. However, the company noted that the title continued attracting players beyond the launch window, supported by platform visibility, promotions and ongoing product updates.

Steam Promotion Delivers a Material Short-Term Uplift

A recent Steam Daily Deal promotion provided another source of commercial momentum for Winter Burrow.

During the first week of the campaign, the game generated approximately US$93,000 in gross Steam revenue, equivalent to around A$143,000. This revenue came from approximately 8,000 units sold during the period.

Average daily revenue increased by approximately 894% compared with the preceding comparable period.

The Daily Deal campaign placed Winter Burrow across selected Steam discovery channels and promotional positions, increasing the game’s exposure to potential buyers. Streamplay Studio said the activity contributed to higher sales, broader visibility and further wishlist growth.

Steam wishlists now exceed 520,000, despite conversions that have already taken place since launch and during recent promotions. A wishlist allows users to track a game and receive notifications relating to discounts, updates and availability, providing publishers with a measure of potential future customer interest.

The company also observed increased sales activity across Xbox and Nintendo Switch storefronts during the promotional period. This indicates that higher visibility on one platform may have contributed to broader awareness across other distribution channels.

However, Streamplay Studio cautioned that the revenue generated during promotional campaigns may not represent the title’s ongoing sales rate. Promotional events can temporarily increase player activity and purchases, and the company did not indicate that the 894% increase in average daily revenue would continue after the campaign.

Mobile Expansion Opens Another Distribution Channel

The next stage of Winter Burrow’s commercial rollout is expected to involve releases on the Apple App Store and Google Play.

Streamplay Studio is targeting 30 September 2026 for the game’s mobile launch, with pre-orders expected to become available ahead of release.

The move will extend Winter Burrow beyond its current audience on Steam, Xbox Series X|S and Nintendo Switch. The company said the mobile expansion is intended to introduce the game to a broader global player base while creating additional long-term revenue opportunities.

According to the announcement, mobile gaming represents approximately 55% of the estimated A$158 billion global gaming industry revenue opportunity. This market information was attributed by the company to the Newzoo Global Games Market Report 2025.

The mobile version has been redesigned and optimised for touchscreen controls. Streamplay Studio said the adapted edition will retain the exploration, crafting and survival mechanics that define the PC and console versions.

The mobile release forms part of Noodlecake’s wider distribution strategy, which involves taking selected indie games to multiple storefronts and devices. That strategy may include mobile, personal computer, console and cloud platforms, as well as possible future participation in Google Play’s expanding cross-device and PC gaming initiatives.

The company is also evaluating additional PC and console platform releases, although no further platforms or release dates were confirmed in the announcement.

Player Engagement Supports the Game’s Ongoing Visibility

Winter Burrow is a woodland survival adventure developed by Danish indie studio Pine Creek Games and published by Noodlecake Studios.

The game combines exploration, crafting, survival mechanics and storytelling in a hand-painted environment influenced by nature, fairytales and Nordic wilderness themes.

Following its November 2025 release, the title has continued receiving favourable user feedback across its existing storefronts. It holds a “Very Positive” user review classification on Steam, equivalent to a 9 out of 10 rating, while the Xbox version has an average user rating of 4.2 out of 5.

Post-launch development has also continued.

Recent updates have expanded inventory and storage functions, introduced further gameplay customisation, added new challenge and story modes and implemented fast-travel features. Other refinements have been made in response to player comments and community feedback.

These updates are intended to maintain engagement among existing players while improving the game for new audiences. Continued product support may also assist the publisher in generating interest during future promotions, platform launches and storefront expansion.

Noodlecake Chief Executive Officer Ryan Holowaty said the title had continued attracting players after its original release period. He noted that the recent Steam promotion demonstrated Winter Burrow’s ongoing visibility across major storefronts, while the planned mobile launch would allow the team to reach a wider audience and continue supporting the existing PC and console community.

Multi-Platform Strategy Shapes Noodlecake’s Growth Approach

Winter Burrow’s release strategy reflects Noodlecake’s broader focus on extending selected titles across several commercial channels.

The publisher operates within the premium mobile and indie gaming markets, supported by a catalogue of more than 60 published games and over 270 million worldwide downloads. Its approach includes publishing partnerships with independent developers as well as distributing content across mobile, PC, console and cloud ecosystems.

For a title such as Winter Burrow, expansion across multiple platforms can extend the commercial period beyond its initial launch. Sales may be generated through direct game purchases, subscription activations, discounts, promotional events and releases on additional devices.

The latest announcement indicates that Winter Burrow’s commercial activity has continued across this mix of channels. The initial launch generated approximately A$3 million in 20 days, while the subsequent period added around A$2.7 million in gross revenue.

The company has not provided a forecast for future Winter Burrow revenue or disclosed the financial contribution expected from the planned mobile versions. It has also not stated how gross revenue will translate into net revenue, earnings or cash flow for Streamplay Studio.

Accordingly, the update is focused primarily on gross sales performance, player reach and distribution progress rather than group-level profitability.

What Could Drive the Next Phase of Performance?

The planned mobile release on 30 September 2026 is the most clearly identified upcoming milestone.

Before that date, the game is expected to become available for pre-order on the Apple App Store and Google Play. The company will also continue supporting the title on its existing platforms through updates and promotional activity.

The more than 520,000 Steam wishlists may provide continued visibility for future sales campaigns. However, wishlists do not necessarily convert into purchases, and the company did not provide an expected conversion rate.

Similarly, the 475,000 Xbox Game Pass activations demonstrate player reach but are not equivalent to direct unit sales. The announcement does not provide details regarding the commercial terms associated with Game Pass participation.

Future revenue performance will therefore depend on several factors outlined indirectly by the company’s update, including mobile adoption, sales across existing storefronts, promotional activity, player engagement and any additional platform releases.

While the latest figures show that Winter Burrow has continued to generate revenue since launch, the company appropriately noted that promotional results may not reflect normal ongoing trading levels.

What This Means for Investors

Streamplay Studio’s latest announcement provided a favourable update on one of Noodlecake Studios’ published titles. Winter Burrow has now surpassed approximately A$5.7 million in cumulative gross revenue, reached more than 700,000 downloads, purchases and activations and maintained a Steam wishlist base exceeding 520,000.

The recent Steam Daily Deal campaign also produced around A$143,000 in gross revenue during its first week, accompanied by an approximately 894% increase in average daily revenue compared with the preceding comparable period.

Investor attention is now likely to turn towards the planned mobile release on 30 September 2026 and whether expansion onto the Apple App Store and Google Play can extend the title’s commercial life.

The 12.50% rise in Streamplay Studio shares followed an update showing continued revenue generation, growing platform reach and another planned distribution channel. However, the stock remains 10.00% lower over the past year, while the company has not provided guidance on the title’s future revenue or its expected contribution to group earnings.