Remedy Entertainment has shared development updates for four of its upcoming projects, including Codename Condor, Max Payne 1&2 remake, and Control 2, a sequel to the 2019 action-adventure game that remains fondly remembered for being one of the first titles to deliver real-time ray tracing. Codename Condor has already entered full production, while the Max Payne remakes are set to do the same in Q2 2024.
Project statuses:
- Codename Condor, a part of the Control franchise, moved to full production meaning it has reached the final development stage before a game is launched. Based on wide internal playtests, we can see that the core loop is engaging, and the game brings a unique Remedy angle to the genre.
- Control 2 team has focused on finalizing the proof-of-concept stage, in which the game world, game mechanics and visual targets are proven. We expect the project to advance to the production readiness stage during the second quarter of 2024.
- Max Payne 1&2 remake continued in the production readiness stage. The game is expected to move into full production during the second quarter of 2024.
- Codename Kestrel continued in the concept stage. The team works to refine the game concept.
Remedy added:
“In the first quarter of 2024 revenue was higher compared to a year ago. Development fees increased from the comparison period, mainly due to higher development fees from Max Payne 1&2 remake. Royalties grew year-on-year driven by Control and Alan Wake Remastered. Alan Wake 2 did not yet generate royalty revenue. In the first quarter our operating profit improved compared to a year ago. The operating cash flow was positive and at the quarter end we had EUR 17.0 million in cash and cash equivalents, with an additional EUR 10.4 million invested in financial instruments.”