Why the PlaySide Studios (ASX:PLY) share price is winning today

PlaySide is teaming up with many of the most influential gamers in the world…

| More on:
Excited male and female hipsters rejoice in good news received on their mobile phones.

Image Source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The PlaySide Studios Ltd (ASX: PLY) share price has continued its positive run and is pushing higher again on Wednesday.

At the time of writing, the video game developer's shares are up a sizeable 4.5% to 88 cents.

This latest gain means the PlaySide Studios share price has now doubled in value in 2021.

Why is the PlaySide Studios share price rising again?

Investors have been bidding the PlaySide Studios share price higher today following the announcement of yet another agreement.

According to the release, PlaySide Studios has partnered with premier US based influencer network, gaming and production organisation One True King (OTK).

OTK, which was formed by incredibly popular content creators Asmongold, Mizkif, Esfand, Rich Campbell, and Tips Out in 2020, has a combined total reach that exceeds 21 million people globally.

The release notes that the agreement with OTK is in the form of a co-development contract for a new multiplayer PC based title with a planned release date in the second quarter of FY 2023. The contract will be a fixed-price, milestone-based development with a material revenue share model post launch.

OTK will market the title to its large and rapidly growing global audience via its various social media platforms.

Management commentary

PlaySide's CEO, Gerry Sakkas, commented: "We are excited to collaborate with reputable gaming influencer organisation OTK which consists of some of the biggest streamers in the world and has a total reach of over 21 million followers worldwide."

"We are continually working to expand our presence within the industry via unique partnerships. This co-development opportunity with OTK – our third since listing – allows us to further leverage the PlaySide brand and reinforces our position as Australia's leading publicly listed gaming developer."

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

A beautiful ocean vista is shown with a woman whose back is to the camera holding her arms up in triumph as she stands at the top of a rock feeling thrilled that ASX 200 shares are reaching multi-year high prices today
52-Week Highs

3 ASX 300 shares smashing new highs while the market dives

These three shares are running hot amid a market meltdown.

Read more »

Man pointing an upward line on a bar graph symbolising a rising share price.
Share Gainers

Why Champion Iron, EBR Systems, Mesoblast, and Patriot Battery Metals shares are surging today

These shares are avoiding the market selloff on Thursday. But why?

Read more »

Frustrated stock trader screaming while looking at mobile phone, symbolising a falling share price.
Share Fallers

Why AGL, CBA, Deep Yellow, and Megaport shares are sinking today

These shares are falling more than most today. What's going on?

Read more »

A wide-eyed man peers out from a small gap in his black zipped jumper conveying fear over the weak Zip share price
BNPL shares

Why did the Zip share price just crash 9%?

Investors seem to be singling Zip out for punishment today...

Read more »

Unsure man analysing data on laptop.
Share Market News

Why is the ASX 200 down by so much today?

ASX 200 investors are favouring their sell buttons today. But why?

Read more »

A man holding a cup of coffee puts his thumb up and smiles while at laptop.
Broker Notes

Guess which ASX 50 share is a top buy for 2025

Bell Potter has just slapped a buy rating on this stock. Let's see why.

Read more »

a woman holds a facebook like thumbs up sign high above her head. She has a very happy smile on her face.
Broker Notes

Goldman Sachs just put a buy rating on this ASX 200 share

The broker has good things to say about this 'high-quality' company.

Read more »

A male sharemarket analyst sits at his desk looking intently at his laptop with two other monitors next to him showing stock price movements
Share Market News

5 things to watch on the ASX 200 on Thursday

Here's what Aussie investors can expect from the local market today.

Read more »