Bloober Team
Polish horror game studio behind the Silent Hill 2 remake and Cronos series.
On the record
Checkpoint: Cronos: Lazarus DLC launch, testing whether Cronos can become a repeat franchise
The call
Bloober turns licensed horror IP into real hits, but Konami's grip on Silent Hill leaves its biggest revenue line exposed at every contract renewal.
Bloober Team makes horror video games, including a very popular remake of Silent Hill 2 that millions have played. The company is profitable and growing fast, but here is the catch: most of its money comes from games built using other companies' characters and stories. Konami owns Silent Hill, and Paramount and Lionsgate own other properties Bloober uses. These companies could take that work away, give it to a bigger rival, or just decide to stop making new games. Bloober has a reputation for doing good work, but that alone will not stop another studio from trying to build the same kind of games. The biggest thing that matters is what Konami does next with Silent Hill: if Konami starts making remakes with its own team instead, or spreads the work around to other studios, Bloober's income could drop suddenly.
Why
01
AI pressure: None apparent. No AI agent yet builds full narrative horror games at Bloober's quality; AI tools mainly speed art and localization work. Could AI do the core job? Unlikely.
02
Bigger players: Konami (owner of the Silent Hill IP). Konami controls Silent Hill and can shift future remakes in-house or to another studio when contracts come up for renewal. Could a giant copy it? Yes, easily.
03
What protects it. A proven track record on Silent Hill 2 and Cronos gives Bloober leverage to keep licensors like Konami, Paramount, and Lionsgate coming back.
What would change this call
Konami announces a Silent Hill 1 remake or new title assigned to a studio other than Bloober Team. Would show Konami is reducing reliance on Bloober despite Silent Hill 2's success.
SAW: Genesis Steam Early Access reception and player counts after its late 2026 launch. Would show whether Bloober can succeed outside licensed horror IP in a crowded multiplayer genre.
Quarterly WSE earnings reports through 2026 showing revenue mix by title and partner. Would show whether 2025's revenue surge is repeatable or was a one-off tied to Silent Hill 2 and Cronos.
SAW: Genesis Steam Early Access reception and player counts after its late 2026 launch. Would show whether Bloober can succeed outside licensed horror IP in a crowded multiplayer genre.
Quarterly WSE earnings reports through 2026 showing revenue mix by title and partner. Would show whether 2025's revenue surge is repeatable or was a one-off tied to Silent Hill 2 and Cronos.
Key numbers
- FY2025 revenue PLN 149.3M, up 67% YoY
- Silent Hill 2 remake passed 5M players
- Cronos reached 500K units sold
Named risks
- Revenue concentration in Konami-owned Silent Hill IP, renewable not exclusive.
- Pivot into crowded asymmetrical multiplayer horror genre via SAW: Genesis.
- Cronos: Lazarus DLC and Star Trek: Shadow Frontier are unproven, first-time formats for the studio.
- No owned durable moat beyond craft reputation; licensors could shift work to rivals.
Rivals, as read in July 2026
| Rival | Direction | Evidence |
|---|---|---|
| Konami | contesting | Owns Silent Hill IP; could redirect remake work in-house at contract renewal, unresolved as of mid-2026 |
| Red Barrels | contesting | Claims 15 million players worldwide for Outlast series as of 2026-05-22 (vendor-claimed) |
| Supermassive Games | contesting | Competes directly in narrative horror niche via Until Dawn and Dark Pictures Anthology |
| Frictional Games | contesting | Rival psychological horror studio (Amnesia, SOMA) targeting same audience |
Questions people ask
- Is Bloober Team profitable in 2026?
- Yes on a title basis: Cronos: The New Dawn became profitable roughly nine months after its September 5, 2025 launch, around June 26, 2026, and Bloober also reported a profit surge in Q3 2025 tied to Cronos's launch, per company and press reports.
- Who owns Bloober Team?
- Bloober Team is publicly traded on the Warsaw Stock Exchange since January 2024 (ticker BLO). Its largest shareholder is Tencent, via subsidiary Serene Century Limited, which bought a 20.1 to 22 percent stake for about PLN 77.6 million (~$19.5M) on October 11, 2021.
- Could AI replace Bloober Team's developers?
- Unlikely for creative work. Head of publishing Michal Gembicki said in April 2026 that AI is fine for market-research aspects of pitches but explicitly rejected generative AI for artwork and writing, calling AI-generated pitches 'nothing worse' in horror game development.
- Who is Bloober Team's biggest competitor?
- In premium narrative horror, Red Barrels (Outlast) claims 15 million players worldwide as of May 2026, and Supermassive Games and Frictional Games compete for the same niche. Structurally, Konami is both partner and risk since it owns the Silent Hill IP Bloober develops.
- How did the Silent Hill 2 remake perform for Bloober Team?
- Konami-published Silent Hill 2 remake sold 1 million copies within days of its October 2024 launch, hit 2 million by January 2025, 2.5 million by October 2025, and surpassed 5 million players including subscription access by January 31, 2026.
- What is Cronos: The New Dawn and did it sell well?
- Cronos: The New Dawn is Bloober's first major self-published original IP, launched September 5, 2025. It sold 200,000 digital copies within days, reached 500,000 units by November 26, 2025, and became profitable around June 26, 2026 against a $27.6M dev budget.
Timeline
- 2026-06-26Cronos: The New Dawn becomes profitable roughly nine months post-launch
- 2026-06-10SAW: Genesis multiplayer horror game announced under Broken Mirror Games
- 2026-06-10Star Trek: Shadow Frontier announced with Paramount Games, targeting 2027
- 2026-04-14Restructures into seven-title model, headcount reaches nearly 270
- 2026-01-31Silent Hill 2 remake surpasses 5 million players including subscriptions
- 2025-11-26Cronos: The New Dawn reaches 500,000 units sold
- 2025-09-05Cronos: The New Dawn launches, self-published original IP
- 2024-10Silent Hill 2 remake launches via Konami, sells 1 million copies in days
- 2024-01Bloober Team lists on Warsaw Stock Exchange as ticker BLO
- 2021-10-11Tencent acquires 20.1 to 22 percent stake for about PLN 77.6 million
Revision history
23 July 2026
First assessed. Losing its protection. The text above is fixed as of this date and is not edited afterwards.
In the same band
Sources
- Bloober Team (WSE) (2026-07-06)
- Bloober Team SA financials (2026-06-30)
- Konami Hails Silent Hill 2 Remake (2025-01-29)
- Silent Hill 2 Remake Hits Major Franchise Sales Milestone (2025-10-17)
- The Silent Hill 2 Remake Surpassed 5 Million Players (2026-03-12)
- Cronos The New Dawn recoups half of game development budget (2025-09-09)
- The New Dawn Reaches Half a Million Players (2025-11-26)
- Cronos: The New Dawn finally becomes profitable (2026-06-26)
- Tencent Has Acquired a 22% Stake in Bloober Team (2021-10-11)
- Bloober Team SA Insider Trading & Ownership Structure
- gurufocus.com (2026-07-22)
- Bloober Team expands leadership (2026-04-14)