CDProjektRED's 2024 Q1 Report Strong Growth and Future Plans
TapTechNews May 29th news, Polish game developer CDProjektRED yesterday announced its first quarter financial report for 2024. The company's consolidated revenue in the first quarter was 57.89 million US dollars, while the consolidated net profit was 25.5 million US dollars, an increase of 44% year-on-year. Most of the sales came from Cyberpunk 2077: Phantom Liberty, and this expansion pack sold more than 5 million copies in 2023.
CDProjektRED also proudly announced that the recent user rating of Cyberpunk 2077: Phantom Liberty on Steam once exceeded 95% positive rating on May 10th and was labeled as Overwhelmingly Positive. However, as of the time TapTechNews released this article, the positive rating seems to have dropped to 90%, but it is still very excellent.
In the subsequent earnings call, CDProjektRED co-CEO Michał Nowakowski confirmed that the studio plans to accelerate the game release rhythm.
Nowakowski said: When we were developing Phantom Liberty, we were also working on two projects at the same time because it is a large project itself with nearly 300 people involved. At the same time, we have already started the development of Polaris, so we have the experience of developing multiple projects simultaneously. Now we are also developing multiple projects. The Boston studio is developing Cyberpunk 2, and the European team is mainly responsible for the development of Polaris (that is, The Witcher 4). Of course, there are other teams working on other projects, such as Project Sirius developed in Boston in cooperation with The MolassesFlood, and The Witcher 1 Remake developed in cooperation with Fool'sTheory. So you can expect us to release more works, and accelerating the release rhythm is also a part of our plan, but I will not disclose the release time interval between projects for the time being.
As always, CDProjektRED also announced the current number of developers of each project. Among them, 407 employees are developing Polaris, 56 are in charge of Orion (that is, Cyberpunk 2), 39 are involved in Sirius (derivative work), 20 are researching and developing the new IP Hadar project, 96 are responsible for shared services (localization, quality assurance, data, insights and experiences, artificial intelligence), and 13 are involved in other projects.