Starbreeze has announced the cancellation of its upcoming Dungeons & Dragons game, codenamed Project Baxter. This significant decision follows a comprehensive strategic review by the company`s board of directors and management, who concluded that resources would be more effectively allocated to its highly successful Payday franchise instead.
The immediate consequence of Project Baxter`s discontinuation will be an impairment charge amounting to approximately SEK 255 million, which translates to about $27.2 million.
Adolf Kristjansson, CEO of Starbreeze, commented on the situation, calling it a “difficult but necessary decision.” He articulated the company`s clear strategic direction: “Payday stands as one of gaming`s most iconic intellectual properties, possessing unparalleled reach and potential. By concentrating our investment and talent here, we can expedite delivery, provide players with more engaging content, and solidify Starbreeze`s position as the undisputed leader in the heisting genre. This move is about sharpening our focus to generate the strongest long-term value for our players, employees, and shareholders.”
Staff Restructuring
As part of this organizational shift, some developers previously assigned to Project Baxter will be reassigned to other teams within Starbreeze, including the core Payday development unit. However, roughly 44 developers, encompassing both full-time employees and contractors, will regrettably face layoffs. Starbreeze stated its commitment to providing “active support for affected employees to transition to new roles across the industry” where internal opportunities prove limited. Kristjansson reiterated the company`s unwavering commitment to “doubling down” on the heisting genre, a strategy that encompasses both the existing Payday series and its future expansion.
These strategic adjustments—the cancellation of Project Baxter, the associated workforce reductions, and an intensified focus on Payday and the broader heisting genre—are designed to help Starbreeze achieve cash-flow positivity by the year 2026.
Kristjansson extended his sincere gratitude to the Project Baxter team for their passion and creativity, and also expressed appreciation to Wizards of the Coast for their collaborative support. He affirmed that while the project will not proceed, Starbreeze remains “proud of what was achieved in Baxter,” and those contributions will “carry forward into Payday and the future of Starbreeze.” He concluded that by concentrating efforts on Payday, Starbreeze and all its employees are given the best possible chance to succeed.
Starbreeze`s Forward Path
Starbreeze outlined its future strategic initiatives, predominantly reaffirming its intensified focus on the Payday franchise. While the latest installment, Payday 3, has not yet achieved the same level of concurrent player success as its predecessor, Payday 2, particularly on Steam, Starbreeze articulated its ongoing commitment to deploying continuous updates and improvements. The overarching goal is to evolve Payday 3 into a “scalable live-engagement platform” capable of attracting millions of players worldwide. The company`s vision involves transforming the franchise into a “modern live-engagement game through ongoing technology upgrades, expansion and refinement of the player experience, and enhanced engagement models designed to be both fair and sustainable.” The team dedicated to Payday 3 is projected to expand to approximately 50 individuals by the close of 2025, with further scaling dependent on player engagement. Notably, Payday 2 also continues to receive new updates and recently introduced a subscription model for its downloadable content (DLC).
Expanding the Heisting Genre: New Titles on the Horizon
The Payday franchise has demonstrated immense success to date, having reached over 50 million players and generating nearly SEK 4 billion (approximately $427.3 million) in lifetime gross revenue. Capitalizing on this strong foundation, Starbreeze announced plans to develop “new games and experiences that broaden the heisting genre beyond Starbreeze`s core projects.” These future initiatives are expected to include spin-offs, narrative-driven titles, and “franchise expansion” to new platforms. Furthermore, Starbreeze will continue to undertake work-for-hire projects to supplement the company`s revenue streams. Kristjansson emphasized that this strategy is fundamentally about “execution and growth—with greater quality and predictability.” He concluded by stating: “Our goal is to keep Payday evolving as a modern live-engagement game, and to open new ways for players to experience the heisting genre through heisting experiences and special operations. By focusing on delivering lasting value to players, we strengthen the foundation that drives sustainable growth for Starbreeze.”