Telltale’s Future Depends on The Wolf Among Us 2 as a New Partnership Takes Shape

The Wolf Among Us 2 could determine Telltale's next move, as its partnership with PM Studios points to more games beyond Bigby’s return.

Telltale Games is getting closer to releasing The Wolf Among Us 2, and the game could end up being much more important to the studio than simply bringing Bigby Wolf back. With the sequel approaching, more details have emerged about Telltale’s partnership with PM Studios, the company helping make and fund the game.

That relationship is now being presented as something that could continue beyond The Wolf Among Us 2, giving Telltale a possible path toward a more stable future. It could also allow the studio to focus on new projects without constantly having to rebuild its development plans. It could also give Telltale more room to plan its future projects with greater confidence.

The partnership is particularly interesting because PM Studios appears to be playing a major role in financing The Wolf Among Us 2.

According to the transcript, PM Studios is handling much of the funding, which makes sense given the difficulties Telltale has faced over the years. The studio has previously dealt with projects falling apart and teams being let go, with financial problems playing a major role in those situations. 

PM Studios is also speaking positively about its relationship with Telltale and appears interested in doing more together. The company has reportedly discussed future ideas with Telltale and believes both sides are aligned. That does not confirm what the next project will be, but it does suggest that The Wolf Among Us 2 may continue the partnership. 

The comments from PM Studios CEO Michael Yum make that possibility even more compelling. Yum reportedly told Telltale, “Let me worry about the money so you don’t have to worry about that anymore,” and he said he has been pleased with the progress of development so far. That confidence could be an encouraging sign for Telltale as it works toward the game's release.

On Telltale’s side, design director Jessica Hera Campbell described working on Bigby’s return as coming home. Those comments suggest that the two teams are comfortable working together, which could be important if Telltale wants to develop several projects with the same partner.

A target of around one million units is mentioned as a reasonable expectation, especially when compared with the success of Dispatch, which reportedly sold several million copies. If The Wolf Among Us 2 performs strongly, it would give Telltale and PM Studios a much better reason to continue working together.

A poor performance would create a very different situation.

The transcript argues that if The Wolf Among Us 2 sold only around 50,000 or 60,000 copies, the partnership could end and Telltale’s future could become extremely uncertain. That is not an official prediction from Telltale or PM Studios, but rather an assessment of how important the game’s performance could be. 

If the game succeeds, however, neither side has much reason to change course immediately. Telltale would have found a partner that understands what it wants to make, while PM Studios would have a successful relationship that could lead to more projects. That could allow Telltale to finish The Wolf Among Us 2, move forward with another game, and establish a more consistent development pipeline. 

The next project is unlikely to be The Wolf Among Us 3. Telltale has reportedly discussed releasing games every two or three years and getting its development pipeline into a more consistent rhythm. The idea seems to be that the studio wants to avoid long gaps between games and instead maintain a steady flow of new projects. 

That approach could give Telltale room to explore other properties and even original ideas. 

Batman is one possibility, although the transcript notes that Batman: The Enemy Within performed poorly enough to contribute to the company’s financial problems before its collapse. The Walking Dead is another major name associated with Telltale, but the transcript suggests a future Walking Dead project would likely involve Skybound rather than being developed directly by Telltale. 

Other possibilities include Tales from the Borderlands, although bringing back the people who worked on it could be difficult because many have moved on to other projects. The transcript also mentions properties such as Stranger Things and Wednesday as examples of franchises that could potentially work with Telltale’s style.

More importantly, Telltale has reportedly talked about having original ideas of its own. That gives the studio more options than simply returning to the franchises people already associate with it. It could also help the studio establish a new identity beyond its older licensed games.

For now, everything still comes back to The Wolf Among Us 2. The sequel is not only a long-awaited return for Bigby Wolf but also an important test of whether Telltale’s current approach can succeed. If the game performs well and the relationship with PM Studios remains strong, Telltale could have a much clearer path toward making more games.