Remedy’s Revenue Declined By 22.2% in 2023 Despite Alan Wake 2’s Launch

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Alan Wake 2 Could Not Increase Revenue!

Story Highlights
  • Remedy Entertainment’s revenue fell from €43.6 million to €33.9 million in 2023.
  • The CEO says revenue and profitability went down due to increased investments.
  • Remedy has numerous games in development, and the company expects the revenue to rise this year.

Remedy Entertainment has been known for nothing but high-quality games for the longest time. That continued with the launch of Alan Wake 2, which was critically acclaimed and won multiple awards. However, even then, the studio’s revenue fell in 2023.

Why it matters: Alan Wake 2 is Remedy Entertainment’s highest-rated game in many years, so it was expected to set new records for the developer.

Alan Wake 2 Image
Alan Wake 2 Stood Out Despite The Many Horror Games of 2023

 

Alan Wake 2 is Remedy’s fastest-selling game and has already sold 1.3 million units. These are impressive numbers despite the game’s digital-only release and Epic Games PC exclusivity.

However, the game could have been a bigger hit based on the reception. Not too long ago, we expressed concerns about its performance on the market. These stemmed from its Epic Games exclusivity.

Moreover, Alan Wake 2 had a smaller budget than most games. In theory, Epic Games’ investment and this budget should have resulted in better financial earnings for the team.

According to the CEO, the team invested in various projects, which was the primary reason behind this discrepancy.

Our revenue and profitability were impacted by significantly increased investment.

-CeO Tero Virtala

Control Remedy Entertainment
Control Is Set To Receive A Sequel

CEO Tero Virtala expects Remedy Entertainment’s revenue to increase in 2024. The studio has a bunch of games in the works, and most will enter their next phases of development this year.

These titles include a sequel to Control, a multiplayer spinoff of Control, Max Payne Remakes, and more. Max Payne, which has the same budget as Alan Wak 2, will be fully funded by Rockstar, while the rest are Remedy’s own IPs.

Control 2 is currently in the proof of concept stage. Meanwhile, the Max Payne remakes are making rapid progress and should be the next release from the developer. Virtala stated that Remedy Entertainment is thrilled to present its launch lineup.

Considering the games this studio is working on, we are excited to know more about them over time.

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