Poland’s largest game development company, CD Projekt Red, released its results for the previous business year, along with the fact that we also learned some interesting facts about the market performance of Cyberpunk 2077.
Also memorably, the most anticipated video game appeared in recent years last December, and a scandal erupted about it almost immediately. It turned out that the console versions were in terrible shape, and although the PC version worked fine in most cases, there were a lot of issues as well.
The situation has deteriorated to the point that Sony has taken the game out of the PlayStation Store (it has not been returned since then) and developer CD Project Red has randomly returned money to everyone who was unhappy with the game.
The Polish Red CD Project has been one of the most customer friendly in the gaming industry for many years, so the fact that they tried to deceive consumers especially caused great pain and a huge loss of confidence. Console releases of Cyberpunk 2077 were withheld from journalists prior to its launch, so no one knew in advance that it would be on the market in an almost completely inoperable state. Since then, CD Project Red anxiously apologizes for a string of excuses and tries to fix the game’s problems at a later time.
The company stated that there is no option to leave the product alone, and work on it until it is in a condition they can actually be proud of.
In any case, the financial report revealed that CD Projekt Red paid approximately $ 2.23 million in the first round to dissatisfied customers as part of its self-announced campaign, $ 10.6 million for other overseas stores, and an additional $ 38.2 million for the company. . Related additional expenses.
You might think that’s a lot of money, and we’d be right. However, CD Project Red closed an amazingly successful business year: net revenue of $ 562 million, four times the previous year and nearly two and a half times the previous record year of 2015, when the company made the biggest profit out of history. A The Witcher 3.
Additionally, there was a profit of $ 303 million, which was nearly three times the biggest gain in 2015, which was also due to The Witcher 3 in the studio.
This is all no coincidence, as Cyberpunk 2077 sold about 13.7 million copies in 2020 alone, which is especially impressive because the game was released in December, so it only took a week or two to do so. 56% of copies sold went to PC, 28% to PlayStation, and 17% to Xbox, but perhaps most interestingly, 73% of all copies were purchased digitally and only 23% were traditional.
Cyberpunk 2077, with its budget of $ 300 million, is the most expensive video game ever, with around 530 employees working for several years, but in addition to CD Project Red’s direct employees, a total of around 5,200 people contributed to its production in some way.
CD Projekt Red may be happy with the results, but the CEOs (who are also the largest owners) will definitely not sleep peacefully from the fact that the company’s stock value has been steadily and uninterruptedly falling since December. From last year’s peak of 460 PLN, it has decreased to 168 PLN at the time of writing, and the task of repair will not be easy.
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