Control, Alan Wake, and Quantum Break developer Remedy Entertainment have reported their earnings for 2020, and surprisingly, it was a record-setting year despite a lack of new games from the studio. Revenue for the year was €41 million (around $57 million), a 40 percent increase compared to 2019. Net income was €13 million ($18 million) or more than double 2019.
Remedy’s 2020 success comes courtesy of the continued success of Control, which surpassed 2 million units sold as of December. In 2020, Remedy released new Control DLC as well as Control Ultimate Edition, which includes the game’s two expansions, new end-game content, and a “free” next-gen console upgrade (which launched earlier this month). There was some controversy about next-gen upgrades being limited to Control Ultimate Edition (freezing out early adopters), but apparently it didn’t keep people from buying, as November 2020 was the game’s best sales month to date. Remedy CEO Tero Virtala had the following to say about their record year…
2020 was a record year for Remedy’s financial performance […] -- all this despite the absence of a major new game launch. This proves that we have developed the business well on many fronts and built a strong foundation for long-term growth. By the beginning of the year, we had reached several targets introduced in the 2017 growth strategy.
Remedy may not have released any original games in 2020, but they have a lot on their plates. They’re developing the single-player component for the free-to-play shooter Crossfire (entitled CrossfireX), a co-op game codenamed Vanguard, and two projects to be published by Epic Games – one a major release, one a smaller one. So yes, Remedy may have set a record last year, but the best is likely to come.
Control Ultimate Edition is available now on PC, Xbox One, Xbox Series X/S, PS4, PS5, and Nintendo Switch (via the cloud).