Games developerRemedy Entertainmentpublished the company’s financial results for the first half of 2024. The report showedRemedy increased revenue by 33.7% from the same period the year prior.
Included in the report, Remedy offered an update on the sales performance ofAlan Wake 2. While the game has been largelyconsidered a critical success, and hailed as agreat game of the horror genre,the sales performance of the game remains lackluster.
The critical, although not commercial,success ofAlan Wake 2was confirmedwhenthe game took the Finnish Game of the Year award at the 2024 Finnish Game Awards.
Story-Driven Games Like Alan Wake 2 Help Movie Buffs Cross The Gaming Threshold
Narrative-based titles are the gateway to future movie/game hybrids.
The numbers in the report showed Remedyincreased the company’s revenues through the second quarter of 2024 by16.2% over the same period of the previous year, good for $11.25 million (€10.3 million).
The second quarter increase was partially responsible for the 33.7% revenue increase through the first half of 2024 (H1), reflected in $23 million (€21.1 million) in revenues.
Part of the increase in revenues camefrom Remedy’s reduced operating costs during the period. In 2024, Remedy’s operating costs were €5.3 million, compared to€10.4 million for the same period in 2023.
Max Payne Remakes & Control Put Remedy In The Black
Remedy revealedthat its main revenue source was development fees from theMax Payne1 and 2 remakes,which it is developingfor Rockstar Games.
The report further confirmed theMax Payne 1 and 2development entered full production stage.
In addition to development fees from the remakes,Remedy noted that royalties fromControlandAlan Wake Remasteredspurred on revenues.
Also, Remedy CEO Tero Virtala said thecancellation of project Kestrel"brought increased focus and better development synergies," which allowed Remedy to focus on developing itscurrent games.
Alan Wake Remastered Receives Surprise Nintendo Switch Release
‘The Signal’ and ‘The Writer’ story expansions are also included.
Remedy alsoconfirmed the company iscontinuing development ofControl 2and a Control multiplayer spin-offgiven the codename Condor, with both entering what the company calls production readiness stage.
The sequel to the popular gameControllooks set to be a success for Remedy,especially asthe studio acquired full rights to the franchisefrom505 Gamesfor €17 million in February 2024.
Of the acquisition, CEO Tero Virtala said:
With full control of the IP and publishing rights to Control and Alan Wake, we can choose how to bring future games to market. We have been weighing self-publishing and related business models, as well as discussing partner publishing opportunities. We are preparing to take a more significant role in growing the two franchises and especially in the way we commercialize, market, and publish our games.
With this position of complete authority onControlandAlan Wake, and the relative success of both games,Remedy looks set to continue to grow as a developer. Especially as Remedy has been able to establish a style to its games which the players respond well to.
This Hit New Horror Film Is Being Called A Must Watch For Alan Wake 2 Fans
Alan Wake 2 fans are drawing similarities between this year’s new horror hit and the Remedy title.
