Remedy shared its half-year financial review today, posting 23% increased revenue compared to last year's period and 116% growth in operating profit.
Additionally, Remedy CEO Tero Virtala also shared some very interesting statements on the status of the Finnish studio's projects, starting with the Vanguard multiplayer-focused one (which Communications Director Thomas Puha had briefly discussed in a previous interview with Wccftech).
The team working on Vanguard – a project also based on our own IP – has taken the game’s internally playable development version further, continuously evaluating, learning and adjusting the development. Some parts of the game show very good promise, some parts have been redesigned. We continue this iterative Vanguard-development with a mission to combine long-term service-based multiplayer experiences with Remedy’s unique game style. The game is developed with the Unreal 4 engine and the early phase work continues with a small team.
Remedy is also hard at work on the two unannounced games that will be published by Epic Games. Virtala provided a brief update on both and even disclosed the finer terms of the publishing deal.
Our third unannounced project has proceeded well. We also have an additional smaller-scale project in development within the same franchise. Remedy had several good publisher candidates for the projects and we chose to sign a publishing deal with Epic Games. They were the best fit for these games, based on their experience as a developer, track-record of expanding into new areas of gaming business and ambition to take game publishing to a new level. As the publisher, Epic covers development and marketing costs. Once these costs are recouped from game sales, Remedy receives a 50% share of net revenue. Both projects are based on a game IP created and owned by Remedy, and we retain full creative freedom and ownership in this regard.
Other highlights include Remedy's ongoing efforts to improve the Northlight engine to support next-generation consoles (Control is, after all, getting a PlayStation 5 and Xbox Series X release).
In related Remedy news, check out the debut gameplay footage of the second and final Control expansion, AWE.
About the author: With over two decades of experience in gaming journalism, Alessio Palumbo has led the gaming vertical at Wccftech since August 2015. He started working at a young age for Italian websites like Everyeye.it, Gamestar.it, Nextgame.it, and Multiplayer.it before kickstarting the indie English-language publication Worlds Factory as its founder and Editor in Chief. In the last decade, he has coordinated the overall output of Wccftech's gaming section, managed PR relations, assigned reviews, produced daily news coverage, edited gaming content as needed, and delivered game reviews. Arguably, his trademark content is the long series of exclusive developer interviews that have been cited by Wikipedia and by the biggest news media and gaming publications. His passion for technology also makes him knowledgeable when it comes to gaming hardware and tech. His favorite genres include RPGs, MMORPGs, and action/adventure games.
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