Remedy Entertainment reported a drop in revenue for the initial 6 months of the year as the studio prepares to launch Control Resonant next month. The Finnish developer saw earnings decline as they spent heavily on marketing to prepare for the self published sequel. Pre orders are already showing strong momentum across major global markets ahead of the late September release.
Remedy reported a 40% drop in revenue for the 2nd quarter, bringing in 10.2 million Euros. Profits also took a hit. Operating loss landed at 3.9 million Euros. According to the official Remedy Entertainment half year financial report, the drop is not a surprise. Last year saw the launch of FBC Firebreak, which brought in large subscription payments. This year had no such release. CEO Jean Charles Gaudechon explained that the studio expected a dip in profitability as they funnel money into promoting their upcoming game.
The studio is betting big on the sequel to Control. Right now, the game has accumulated more than 1.5 million wishlists across PC and consoles. Early hands on previews have praised the shift toward faster, melee focused combat. Player reception has been highly positive in early tests. PlayStation pre order data ranks the game in the top 3 in the US, Germany, and Brazil. Remedy is self publishing the title, which means they keep a larger share of the sales but also shoulder all of the marketing costs.
Existing games continue to fund the studio during this quiet period. Alan Wake 2 recently crossed 3 million copies sold. That catalog health gives Remedy a financial cushion as they prepare for their next releases. Other projects are also moving forward behind the scenes. The highly anticipated Max Payne 1&2 remake is currently in full production in partnership with Rockstar Games. An unannounced project has reached production readiness, preparing to step into active development soon.
