Remedy Entertainment just published their financial statement for 2017 and it's chock-full of interesting details.
To begin with, their P7 project has been confirmed to be targeting a 2019 launch. The company also just finished "preliminary preparation" to get started this year on a new game project.
Both of our game projects have progressed well, and their development work will continue according to the agreed schedules. We have delivered the agreed milestones of the single-player campaign of the CrossFire 2 game for Smilegate Entertainment Ltd., and have correspondingly received the payments tied to the milestones on time. The development of the single-player campaign will continue in 2018. The campaign we are developing is part of the more extensive
CrossFire 2 game under development, with Smilegate responsible for its development plans and commercialization.
Our other game project, project P7 that is being done with 505 Games S.p.A., proceeded from the pre-production phase to the production phase at the beginning of the period under review. The development of the game has progressed according to our plans. P7 is expected to be released during 2019.
In addition to our two game projects underway, we launched the preliminary preparations for a new game project at the end of 2017.
During 2018, the company will have two game projects in the production phase, in which both the personnel expenses caused by them and purchases of external services are at their highest. One of the projects is the company’s own game brand codenamed P7, in which the company’s own financing plays a significant role. At the same time, the company will launch a third game project, continuing recruitment and other investments supporting the growth strategy
As a reminder, P7 is a cinematic third-person action game due to published by 505 Games on PC, PlayStation 4 and Xbox One. The game will have expanded replayability mostly thanks to as-of-yet unspecified multiplayer elements.
In fact, here's another brief from the report detailing the advancements made to Remedy's in-house Northlight engine.
We have developed further the Northlight technology that serves our games, and also strengthened further the team developing it. In particular, multiplayer, artificial intelligence and animation technologies as well as our game development tools have taken significant steps forward.
Lastly, Remedy registered a 1.9% revenue increase on a year-over-year basis between July and December, while the full year revenue increased by 4.6% for a total of € 17.2 million. The studio also became bigger during 2017, with 149 employees (it had 135 last year). To accommodate this growth, Remedy will be moving to a renovated office in Olarinluoma, Espoo, later this year.