A busy year for Remedy
Remedy Entertainment has had a busy year, with several projects in development and a major investment from Tencent. The company is working on several high-profile projects, including the Max Payne 1 & 2 remake, a new multiplayer action game, Control 2, and a multiplayer game set in the Control universe.
Max Payne Remake Updates
- The Max Payne 1 & 2 remake is expected to move into “full production” during Q2 of 2024 (April through June of 2024).
- Remedy’s upcoming multiplayer action game, Codename Kestrel, is still in the concept stage.
- Control 2 is in the final development stage before full production.
- Codename Condor, a multiplayer game set in the Control universe, is in the final development stage before full production.
Tencent Triples Investment in Remedy
Tencent has increased its stake in Remedy from 5% to 14.8%, nearly tripling its investment. This move signals a strong commitment from Tencent to Remedy’s future success.
Other Remedy Developments
- Remedy has fully acquired rights to the Control franchise from 505 Games.
- Alan Wake 2 has sold 1.3 million units as of the start of February and has recouped “a significant part” of its expenses.
- Remedy’s COO, Christopher Schmitz, has resigned and Mikael Kasurinen, a long-time Remedy veteran and Control game director, has been appointed as a company-wide creative director.
- Remedy’s revenue for the quarter was up 56.2% year-over-year to €10.8 million ($11.6 million).
Alan Wake 2 Expansions
Two expansions for Alan Wake 2 are currently in development. One is entitled Night Springs, and the other is called The Lakehouse. Neither has a release date just yet.
Key Takeaways
Remedy Entertainment is a company with a bright future. It has a strong portfolio of games in development, and Tencent’s significant investment will provide the company with the resources it needs to continue to grow and innovate.
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