Remedy Entertainment has made a successful start to 2024 and presented new financial figures following the release of Alan Wake 2. This positive development allows the company to focus on further exciting projects
The company recorded a significant increase in revenue of 56.2% to 10.8 million euros. This led to improved profitability compared to the same period last year. One of the most important developments was the acquisition of the full rights to the Control franchise from 505 Games.
This allows Remedy to freely plan future developments for Control, Codename Condor, Control 2 and future projects in the series. The CEO of Remedy Entertainment, Tero Virtala, emphasized that this strategic decision gives the company more flexibility for future projects.
Future projects of Remedy
Following the success of Alan Wake 2, which has already sold 1.3 million units, Remedy is working on several exciting projects. These include a DLC for the survival horror game and the further development of the Control series Codename Condor has reached the production phase and will be released soon. According to internal playtests, the game brings a unique gameplay experience and an interesting take on the Remedy style.
In addition, the Control 2 team is working on completing the proof-of-concept phase and moving into production readiness. The development of the remake of Max Payne 1 & 2 is also progressing and is scheduled to enter the full production phase in the second quarter of 2024.
The project called Codename Kestrel is also in Remedy Entertainment’s pipeline. However, the title is still in the concept phase. After the title was initially marketed as free-to-play, it is now to be a “premium game with cooperative multiplayer components”.
Involvement of Tencent
In the latest financial report, it was also announced that Tencent Holdings Limited has increased its stake in Remedy to over 10%. This illustrates the confidence placed in the future developments of Remedy Entertainment.
The company remains committed to expanding its existing franchise projects and strengthening its market position. Control and Alan Wake remain key projects linked together in the Remedy Connected Universe. Remedy plans to utilize and further expand the synergies between the individual titles to delight both existing and new fans.
