Remedy Entertainment Doubled Its Profits in 2020 without Releasing a Single Game That Year

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Image: Remedy Entertainment

Control and Alan Wake developer Remedy Entertainment managed to double its profits in 2020 without releasing a single game that year. The curious achievement was spotted by a editor, who looked over the Finnish studio’s most recent financial results and noted that its operating profit for the 12 months ended December 31, 2020 was $13.2 million. That’s more than double the amount that Remedy made in 2019, which was only $6.5 million.

“[…] the company grew on the continued success of the critically acclaimed Control, which received new expansions and launched on new platforms and marketplaces,” explained. “The game arrived on Steam and Xbox Game Pass, cloud versions launched on Nintendo Switch and Amazon’s Luna service — plus Remedy and 505 released the Ultimate Edition on various platforms.”

“As announced in December, Control has sold more than two million copies worldwide, with promotions making November 2020 the game’s biggest month for sales so far — 15 months after its original debut. Earlier this month, the game launched on Xbox Series X|S and PlayStation 5.”

We learned in March 2020 that Remedy Entertainment had agreed to partner with Epic Games under its newly formed multiplatform publishing label, Epic Games Publishing, whose incentives include full creative ownership, fully funded development costs, and a 50/50 split in profits. The collaboration will result one AAA and one smaller-scale game from Remedy, one of which is said to tie in with the Alan Wake and Control universe.

Tsing Mui
News poster at The FPS Review.

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