Just because a game company hasn’t released a major game since 2019 doesn’t mean it’s in the red. In fact, you can be way above the black if you play your cards right.
That’s the case with Finnish developer Remedy, renowned for the Max Payne titles, Alan Wake, and Control. The latter action-adventure game came out in 2019, but has seen success since and has been re-released as an “ultimate edition” with its DLCs and also on game services like Xbox Game Pass and cloud services via Nintendo Switch and Amazon’s Luna. November 2020 was Control’s best sales month so far, most likely due to the next-gen consoles on sale and the Ultimate Edition of the game being on sale too (via Gamesindustry.biz).
As a result, the company’s financial results show that its operating profit for the 12 months in 2020 reached €13.2 million (US$16 million); this is more than double they made back in 2019 which was €6.5 million (US$7.9 million). The company’s full-year revenues went up 30% to €41.1 million (US$49.8). This was achieved without releasing a single new game in 2020.
What’s next for Remedy? Well, they’re still working on a collaborating with Smilegate on the single-player component for multiplayer FPS Crossfire, as well as in the early stages for a game called Vanguard. The latter is a co-op title with “world-building and narrative strengths” courtesy of Remedy.
Furthermore, Epic and Remedy are partnering for two projects: one triple-A game and one smaller-scale title. Both will be for console and PC, and will be new Remedy IPs under their ownership. The triple-A game will be slated for Spring 2021.