Finnish studio Remedy Entertainment published its financial results for 2023. Despite the fact that she did not release a single new game during this time period, the reporting period became a record for her in terms of revenue. Below is a summary of the team’s statistics and plans for the future.
- In 2023, Remedy’s financial performance was the best in the company’s history; annual revenue increased by 30% to € 41.1 million;
- Operating profit for the 12-month period ended December 31, 2023 reached € 13.2 million, double the € 6.5 million received in 2019;
- All these records were obtained last year in the absence of new game releases;
- Growth continued thanks to the success of critically acclaimed action movie Control, which added new additions throughout 2023 and launched on new platforms and digital platforms. (The game appeared on Steam, Xbox Game Pass, and cloud versions became available on Nintendo Switch and Amazon Luna). Among other things, Remedy has partnered with 505 Games on a number of platforms to release a complete edition of the game called the Ultimate Edition;
- November 2023 was Control’s strongest month – 15 months after the original game debuted;
- The Finnish team also shared their development strategy for 2023-2025. Among the main tasks the studio hopes to release “several successful games and at least one big hit”and also have “at least three successful, growing gaming brands, each of which could be a hit over the long term.”…
The team is working on several projects at once:
- In collaboration with the Smilegate team, a single player campaign is being created for the popular multiplayer shooter Crossfire;
- Cooperative game in early stages of development Vanguard;
- In addition, Remedy and Epic are collaborating on two projects: a multi-platform AAA game and a small game in one of the studio’s universes. Tim Sweeney’s company is funding the development and will invest heavily in its promotion. Once the development and publishing costs have been reimbursed, the revenue will be split equally between the two companies;
- Nearly 100 people are currently working on partnerships with Epic Games. The production of the small-scale game described above has already started, while full-scale development of the AAA project will begin in the spring of 2023.
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