Mighty Kingdom (ASX:MKL) - CEO & Managing Director, Philip Mayes
CEO & Managing Director, Philip Mayes
Source: Mighty Kingdom
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  • Mighty Kingdom (MKL) signs an agreement with global mobile game studio and publisher Lion Studios for an upcoming project
  • Under the agreement, the companies will co-develop a game but few details have been provided regarding the title, genre, style or gameplay
  • The revenue will come from milestone payments for the development of the game over a 12-month period with the amount to be in the low seven-figure range
  • The game will be developed using the companies existing resources and Mighty Kingdom will reinvest the revenue into its original IP pipeline
  • Shares in Mighty Kingdom are up 3.45 per cent on the market and are trading at six cents at 3:56 pm AEST

Mighty Kingdom (MKL) has signed an agreement with global mobile game studio and publisher Lion Studios for an upcoming project.

Under the agreement, the companies will co-develop a game but few details have been provided regarding the title, genre, style or gameplay.

The revenue will come from milestone payments for the development of the game over a 12-month period with the amount to be in the low seven-figure range.

The game will be developed using the companies existing resources and standard termination clauses will apply.

Once received, Mighty Kingdom will reinvest the revenue into its original IP pipeline.

“We’re incredibly excited to be taking on this new partnership with Lion Studios. I have always been impressed by the quality and performance of their portfolio of top 10 games,” CEO and Managing Director Philip Mayes said.

“Lion brings a wealth of experience and a track record of success in mobile gaming, and combined with our proven capability in narrative game development, makes for a compelling opportunity for both companies.”

This partnership follows an agreement signed with East Side Games Group in early April for a new mobile game.

While full details are yet to be announced, the game will be based on intellectual property involving recognisable characters and franchises, and will be available on iOS and Android devices worldwide.

Mighty Kingdom also partnered with Funcom Oslo to launch its first console game, Conan Chop Chop, on March 1.

Conan Chop Chop is an online, multi-player action-adventure game that uses the ‘Conan the Barbarian’ intellectual property.

Players are able to take control of Conan and his friends who take on the world of Hyboria to collect loot and “hack’n’slash” through battles.

The game will be available on PlayStation, XBOX, PC and Nintendo Switch.

Shares in Mighty Kingdom were up 3.45 per cent on the market and were trading at six cents at 3:56 pm AEST.

MKL by the numbers
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