CD Projekt today released its financial data for the first quarter of 2021, which reveals an interesting future for the Polish developer.
Sales at CD Projekt are declining. That emerges from the recently published financial report for the first quarter of fiscal year 2021. Net income is down 64.7% thanks to ongoing efforts to fix Cyberpunk 2077, which got off to such a disastrous start that it has been removed from the PlayStation store and still not resumed.
This is also because 2020 saw an unusual increase in sales due to the pandemic. Lockdowns meant that more people were buying games in general, even five year old games like The Witcher 3. As lockdowns receded and people returned to work / school, game sales have returned to earth as well.
But CD Projekt Red is still making money, and the Q1 report also showed that it is already looking to the future. There are dollars buried in the consolidated financial statements for “getting involved in new, future projects.” Below is another sentence heralding the “parallel development of two AAA games,” which should begin development in 2022.
“The lower than usual net profitability is mainly due to the ongoing amortization of Cyberpunk 2077 development expenses, work on updating the game and R&D activities related to future projects,” CFO Piotr Nielubowicz confirmed in a statement to Reuters.
In addition to new games, CD Projekt also plans to further examine possible studio acquisitions. CD Projekt bought Vancouver-based studio Digital Scapes last March, a company they have been working with since 2018, and will work together on future projects.
Both The Witcher 3 and Cyberpunk 2077 will get their latest upgrades later this year, while a new Witcher mobile game called The Witcher: Monster Slayer will be released this summer. Monster Slayer is a location-based AR game that is very similar to Pokemon Go, except that instead of capturing the monster, you kill the monster.
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Actually a collective of 6 hamsters controlling a robot in human form, Sean comes from Toronto, Canada. Passionate about games from a young age, these hamsters would likely have conquered the world if they hadn’t preferred to play and write video games. The hamsters are so far in their long-con that they managed to get a bachelor’s degree from the University of Waterloo and thus convince the good editors at TheGamer that they can write “gud werds” even though they can in reality only have done a very sophisticated spell checker that is installed in the central unit of the robot.
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