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Netcaster AtomShockwave has launched a pay-per-play service through online gaming division Shockwave.com. As part of the move to create a new revenue stream, 20 downloadable games will initially be offered through two collections: Midway Classics, that includes titles like “Joust” and “Spy Hunter,” and Shockwave.com games, such as “Deer Hunter” and “Real Pool.”

Move marks the first time either AtomFilms or Shockwave.com have offered up content for a subscription fee. AtomShockwave’s titles can be downloaded from Shockwave.com and played offline using the company’s Shockmachine player. Fees are $19.95 for one games package, $29.95 for both.

Considering Shockmachine has been downloaded by 7 million users since its launch in 1999, and that subscription-based online games have proven profitable for other online endeavors, prospects look positive for AtomShockwave. Shockwave.com also has 40 million registered users, which also doesn’t hurt. Despite the new move, the Shockwave.com site will continue to offer free games, as well.

AtomShockwave created the Midway Classics collection through a deal with Digital Eclipse Software and licenses from Midway.