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CD Projekt has revealed that 2022 was its second-best year in terms of financial results - it cites an uptick in sales of action role-playing shooter Cyberpunk 2077 as the main reason behind the nice boost to its earnings - around $222 million in revenue, leading to about $80 million in net profit. The Cyberpunk intellectual property has expanded beyond the scope of the video games format and onto the small screen - evidently a combination of the Netflix anime series adaptation and continued efforts into polishing and expanding the game has spread a positive word of mouth. The company states: "In 2022 CD PROJEKT RED carried out intensive work on Cyberpunk 2077, which resulted in successive updates and the next-gen console edition of the game. An important event was the well-received Netflix premiere of Cyberpunk: Edgerunners. It attracted many new players to the game, and convinced many others to revisit Night City."
Adam Kiciński, CEO of CD PROJEKT was buoyed by these results and set expectations for continuations in both fields in the future: "The popularity of the series and the positive reception of the update, released a week before the premiere, had a notable effect on Cyberpunk sales and general sentiment around the game, as evidenced by gamers' reviews. This is a clear sign that deeper involvement in our franchises and expanding their reach is the right way to go. Another important event supporting the Cyberpunk franchise will be the release of Phantom Liberty - a large expansion scheduled for this year."
Industry analysts are somewhat surprised by the company's good fortunes in 2022 - after all, no new mainline game has been released by the development or publishing group since the Cyberpunk 2077 launch date in late 2020. The game managed to top sales figures of 13 million units sold within ten days of its December 10 release date. The Witcher series continues to sell in healthy numbers, which also helps to bolsters the company's bottom line.
CD Projekt has undertaken rapid studio growth in recent years, and has even invested in operations within its home country of Poland as well as outfits overseas. Major plans were outlined in 2022 for the parallel development of multiple Witcher games, and a transition to the usage of Unreal Engine 5 for all future titles, in order to embrace more industry tools. It was widely reported that the team experienced major headaches connected to its proprietary REDengine during the making of Cyberpunk 2077. One of their Witcher spin-off games, Project Sirius, is currently on rocky ground - and the company recently revealed that Sirius is being restarted following a complete write-off of funds spent on pre-production at The Molasses Flood studio. CD Projekt's excellent 2022 sales figures will lessen that relatively small financial blow.
The company will be stashing a lot of the extra cash into ambitious growth plans, Piotr Nielubowicz, Vice President and CFO of CD PROJEKT said: "Thanks to solid sales of Cyberpunk 2077 and The Witcher 3 our consolidated revenues reached 953 million PLN, with over 347 million PLN in net profit. A large portion of this profit - over 200 million PLN - was invested in our future development projects."
The Cyberpunk 2077: Phantom Liberty DLC will only be released to current-gen platforms: PS5, Xbox Series X|S, as well as PC. It is expected to launch later in 2023 - CD Projekt Red has hinted that a proper reveal event is incoming around June time.
View at TechPowerUp Main Site | Source
Adam Kiciński, CEO of CD PROJEKT was buoyed by these results and set expectations for continuations in both fields in the future: "The popularity of the series and the positive reception of the update, released a week before the premiere, had a notable effect on Cyberpunk sales and general sentiment around the game, as evidenced by gamers' reviews. This is a clear sign that deeper involvement in our franchises and expanding their reach is the right way to go. Another important event supporting the Cyberpunk franchise will be the release of Phantom Liberty - a large expansion scheduled for this year."
Industry analysts are somewhat surprised by the company's good fortunes in 2022 - after all, no new mainline game has been released by the development or publishing group since the Cyberpunk 2077 launch date in late 2020. The game managed to top sales figures of 13 million units sold within ten days of its December 10 release date. The Witcher series continues to sell in healthy numbers, which also helps to bolsters the company's bottom line.
CD Projekt has undertaken rapid studio growth in recent years, and has even invested in operations within its home country of Poland as well as outfits overseas. Major plans were outlined in 2022 for the parallel development of multiple Witcher games, and a transition to the usage of Unreal Engine 5 for all future titles, in order to embrace more industry tools. It was widely reported that the team experienced major headaches connected to its proprietary REDengine during the making of Cyberpunk 2077. One of their Witcher spin-off games, Project Sirius, is currently on rocky ground - and the company recently revealed that Sirius is being restarted following a complete write-off of funds spent on pre-production at The Molasses Flood studio. CD Projekt's excellent 2022 sales figures will lessen that relatively small financial blow.
The company will be stashing a lot of the extra cash into ambitious growth plans, Piotr Nielubowicz, Vice President and CFO of CD PROJEKT said: "Thanks to solid sales of Cyberpunk 2077 and The Witcher 3 our consolidated revenues reached 953 million PLN, with over 347 million PLN in net profit. A large portion of this profit - over 200 million PLN - was invested in our future development projects."
The Cyberpunk 2077: Phantom Liberty DLC will only be released to current-gen platforms: PS5, Xbox Series X|S, as well as PC. It is expected to launch later in 2023 - CD Projekt Red has hinted that a proper reveal event is incoming around June time.
View at TechPowerUp Main Site | Source