For Remedy, the first half of 2024 It was very fruitful.
In the six-month period from January to June 2024, developer Alan Wake saw revenue grow 33.7 percent over the year-ago period, to €21.1 million (or $23 million). For operating income for the period, Remedy reported a loss of €5.3 million, down from €10.4 million a year earlier.
The second quarter (April 1 to June 30, 2024) reported revenues of €10.3 million, up 16.2 percent from €8.9 million a year earlier. It also posted an operating loss of €3.2 million, down from €4.8 million in the same period last year.
However, there was an overall “improvement in profitability” compared to the previous fiscal year.
And while Alan Wake II hasn't yet become fully profitable, Remedy noted that it has recouped “the majority” of the game's development and marketing expenses. June's “Night Springs” expansion was a highlight of the entire quarter.
The studio also saw an increase in development fees over last year due to the Max Payne 1 and 2 remake. Both projects are now in full production, as is “Codename Condor,” which has an “increasing” amount of internal and limited external playtests.
Control 2, In the meantime, it is prepping for production and recently hit a “major milestone” showing playable features. Virtala noted that the milestone further “supported ongoing commercial negotiations.”
As for all three projects, he said Remedy is exploring self-publishing and “related business models.” A publishing partner (as it did with Epic Games for Alan Wake II and 505 games with Check) It's also on the table.
In any case, the studio will have a “more significant role” in the development of the two franchises, which are expected to be revealed later this year.