In a blog post at Telltale Games website, the team behind The Walking Dead acknowledged a few things.
First, they acknowledged that the Episode 2, Starved for Help was a little bit late, and they apologized for that. Indeed, it was a bit late, and many fans who had purchased the season pass at first opportunity were left a little soured. Having shelled out for the full shebang, you wanted it as soon as it was available (I did, anyway). However almost two months after the release of the first episode, we found that the second episode was worth the wait.
Additionally, Telltale acknowledged that fans want to know when the next episode will be available. While they couldn’t give an exact date, they did forecast that the third episode, Long Road Ahead will be available sometime in mid August.
Even more exciting however is that the studio is planning a second season. Telltale confirmed that they are planning a second season for The Walking Dead, set to release an unspecified time after the release of the current season’s final episode.
Senior Vice President of Marketing at Telltale, Steve Allison told Polygon
This will not be the last Walking Dead game that we do […] Our first episodic game series based on The Walking Dead has sold nearly 1.7 million episodes to consumers in just our first eight weeks with no signs of slowing down.
Incidentally, for those not quite on board with digital distribution, the full game will release in disc form in North American retail stores after the last episode becomes available.
[Source]