informa
/
1 MIN READ
News

Remedy's revenue rose even in a year with no major games

Remedy's profit and revenue totals shot upward in 2021--a year when its only major release was Alan Wake Remastered.

2021 was a year where the numbers moved upward for Remedy Entertainment. The Finnish game developer's full-year financial report (which also includes data on its fourth quarter financial performance) has arrived, and 2021 saw notable gains in revenue and modest gains in profits in a year that was light on releases.

For the three-month period ending December 31, 2021, Remedy earned €19.7 million (about $22 million) in revenue, an increase of 39.4 percent year-over year. Operating profit for the quarter clocked in at €11.2 million, a 69 percent increase over the prior year.

For the full year of 2021, Remedy earned €44.7 million in revenue (up 8.9 percent from the same period last year), and had an operating profit of €14.7 million. That's an 11 percent rise from the prior year.

Did Remedy get that much of a revenue boost from Alan Wake Remastered and purchases of its back catalogue? Not entirely. CEO Tero Virtala explained that "development fees from partners" drove the fourth-quarter revenue increase, while royalties from older titles decreased year-over-year.

Remedy's partnerships with other developers and its upcoming slate of releases (two Control titles, Alan Wake 2) feel like it's gearing up for even better financial results in the next couple of years. For this next fiscal year, Remedy forecasted that its revenue will continue to rise, but operating profits will be "on a lower level" this year.

Latest Jobs

Cryptic Studios

Remote
1.19.23
Senior Producer

Anne Arundel Community College

Arnold, MD, USA
1.30.23
Instructor/Assistant Professor, Game Art

Night School Studio

Los Angeles, CA, USA
1.09.23
Level Designer / Scripter, Games Studio
More Jobs   

CONNECT WITH US

Explore the
Subscribe to
Follow us

Game Developer Job Board

Game Developer Newsletter

@gamedevdotcom

Explore the

Game Developer Job Board

Browse open positions across the game industry or recruit new talent for your studio

Browse
Subscribe to

Game Developer Newsletter

Get daily Game Developer top stories every morning straight into your inbox

Subscribe
Follow us

@gamedevdotcom

Follow us @gamedevdotcom to stay up-to-date with the latest news & insider information about events & more