San Francisco-based Flagship, developer of Hellgate: London, has formed a financial partnership with Texan regional bank Comerica Bank to support the studio's development of new game properties.
Inspired by the independent film financing model, the multi-million dollar deal is backed 'by the sale and distribution rights' to Flagship’s Hellgate.
“By following a model similar to independent film financing, we are able to directly finance ongoing content for our online games without relying upon a publisher’s investment,” said Steve Goldstein, director of business development and general counsel, Flagship Studios.
“As the PC game business makes the transition from the boxed retail model to the online model, alternative financing will become a cornerstone of expanding the industry.”
“We are pleased that Comerica Bank could build on our expertise in financing films to help meet the financial needs of Flagship Studios,” said Jeff Colvin, SVP with Comerica Bank.