Remedy Sees Revenue Boost as Alan Wake 2 Recovers Most Development Costs

Remedy has released its financial report for the first half of 2024, indicating a rise in revenue and enhanced profitability compared to the same period last year. Although Alan Wake 2 has not yet generated royalties, the game has largely recovered its development and marketing expenses since its release in October. The company's revenue for the second quarter of 2024 was €10.3 million, representing a 16.2% increase, with an operating loss of €3.2 million. For the first half of 2024, revenue was €21.1 million, a 33.7% increase, with an operating loss of €5.3 million. The primary source of revenue came from development fees for the Max Payne 1 and 2 remake and royalties from Control and Alan Wake Remastered. CEO Tero Virtala noted that the cancellation of codename Kestrel in May led to increased focus and better development synergies, allowing the company to allocate developers to other game projects. Remedy has also acquired full rights to the Control franchise and is weighing self-publishing options for future games.