Remedy Reports Record Year in 2020 Despite No New Games - News
by William D'Angelo , posted on 07 March 2021 / 1,694 Views
Remedy Entertainment in its financial results for the fiscal year, which ended December 31, 2020, reported a record year. This is despite not releasing any new games. Operating profit grew from €6.5 million in 2019 to €13.2 million in 2020.
For the six month period from July to December, revenue increased 35 percent year-over-year to €24.1 million, while operating profit grew to €10.1 million.
The developer saw continued success from Control, which received new expansions and released on Steam and Xbox Game Pass, while cloud versions of the game released on the Nintendo Switch and Amazon Luna. The game this month released for the Xbox Series X|S and PlayStation 5.
"While we continue to support and take Control further, its development team is gradually shifting to work on a new Remedy game," said Remedy CEO Tero Virtala.
Remedy continues to work on the campaign with Smilegate on CrossfireX, which will launch later this year as an Xbox console exclusive.
The studio has also partnered with Epic Games on two games. One is AAA and the other is smaller scale. Both games will launch on consoles and PC. The smaller game is in full production, while the AAA title will reach full production in Spring 2021.
Thanks, GamesIndustry.
A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel dedicated to gaming Let's Plays and tutorials. You can contact the author at wdangelo@vgchartz.com or on Twitter @TrunksWD.
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Lowkey hope MS buys them after their deal, make AW2. They're the perfect studio for Gamepass and has a long history with Xbox.
Seems like they've figured they can just make double bank on going EGS exclusive first, getting that bribe money, some sales, then Steam a year later and net double sales profits.
What's disappointing is I can see this becoming a norm for some AAA publishers, and it's only signs of greed, and some consumers are happy to feed them said greed, unfortunately.
Why aren't they a worse company?.
Valve isn't bribing devs to sell only on their store, and having Gabe rant about cut this and marketshare that on their twitter account, or suing Apple/Google into the ground, to make it so Epic can use their services and the like free of charge, while making money from both of them.
I didn't bother with grabbing this game, because I frankly don't buy into buying the game on a crappy store owned by a manchild CEO who bribes devs and pits them against customers, and at the same time, I'm not in the mind to buying the game a year later on Steam, telling devs that they can walk all over me and treat me to something a year or two later.
Why buy a game on there, when I can buy a game like Valheim, that cost me only £15, that works on my PC and doesn't require a next to non existent GPU to run it, and where the dev gladly gives me the time of day? (actually selling to me now rather than a year or two later).
Yes, any company on the globe is like that, but there's making money, and then there's "I want the entire market and to lead it so no one can dethrone me, because I've got nowhere else to go" (Since Epic abandoned MS like it abandoned PC many yrs prior).
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