Of its 5 games in development, Remedy co-finances 4 with a publisher, while the last is entirely financed by its partner. This is Alan Wake 2, fully supported by Epic Games Publishing and whose development is in full swing for release this year. “The game will soon have all of its content in place, and it’s playable from start to finish. We will then move on to polishing the experience“Says CEO Tero Virtala. On the downside, Alan Wake Remastered has still not generated royalties, although Remedy remains hopeful that this remaster will take off as the launch of Alan Wake approaches.Alan Wake 2 thanks to players who will want to experience the former first. Remember that if Alan Wake Remastered hasn’t (yet) made Remedy any money, nor has it made Remedy lose any, Epic Games Publishing having covered all the development and marketing costs there too.
Everything is under control
Waiting for the release ofAlan Wake 2, the strategy aimed at increasing co-financed projects has an obvious impact on the studio’s short-term profitability. For the year 2022, Remedy maintained its turnover at 43.6 million euros but shows a net loss of 1.7 million euros instead of a gain of 8.8 million euros in 2021. The result of a strategy that is supposed to bear fruit in the long term. Of course, the production of all these titles still has to go as planned, which is no longer the case for Codename Vanguard, the multiplayer game co-funded by Tencent that will stagnate a little longer than expected. Tero Virtala explains that he has already made quite a few changes to his multi-project studio organization. The ambition is clear: to release a game every year from 2023, with additional free and paid content. Note that Remedy had 334 employees at the end of 2022, compared to 294 a year earlier.
Besides Alan Wake 2Remedy’s other projects are:
- Control 2 with 505 Games
- Codename Condor with 505 Games
- Codename Vanguard with Tencent Games
- Max Payne 1&2 Remake with Rockstar Games
And here’s what the CEO can say about each of them:
“Control 2 deepens the story and world of the first Control. We now have detailed concepts for the vision of the game and all creative areas, including gameplay, storytelling, and art direction. We are happy with the work done by the team and in January 2023 the game moved to the proof of concept stage.“
“Codename Condor is a service-based game and therefore a new type of game for Remedy. We make sure the core gameplay is solid. We are setting up the right team and production model for the game and are patiently progressing development. With our partner 505 Games, we saw great potential in Condor. Condor is still at the proof of concept stage.“
“Codename Vanguard is also in its proof of concept phase. As of Fall 2022, we have elected to keep the game in this stage longer and postpone significant development team expansion to 2023. The Vanguard team has made progress and continues to work on development core gameplay and meta-game, as well as Remedy-style storytelling and world-building. The development team has been strengthened by key recruitments.“
“The Max Payne Remake 1&2 continues at the design stage. The project has progressed well. We can’t wait to bring this beloved character back to life on a new generation of consoles and with a new generation of fans.“
