Remedy revenue more than doubles year-on-year
Finnish games firm Remedy Entertainment reported a massive 128.6 per cent increase in revenue for the three months ending September 30th.
The company reported €17.9 million ($19.5 million) for the period, up from last year's €7.8 million ($8.5 million), while its EBITDA shot up up to €6.6 million ($7.2 million) from €4.2 million ($4.6 million) in the red last year.
This success, in part at least, appears to be related to the deal that Remedy inked with Annapurna to co-finance the upcoming Control 2. Meanwhile, Rockstar is helping fund the remakes of Max Payne and its sequel.
"Since acquiring the Control rights in February 2024, we have been building readiness towards self-publishing and more regular game releases," CEO Tero Virtala wrote.
"In August, we announced a strategic partnership with Annapurna. They will finance 50 per cent of the development budget of Control 2 and gain the rights to expand Control and Alan Wake franchises into film and television. In September, we also made a E 15 million convertible loan agreement with Tencent to strengthen our position in the value chain and to have more control over how our games are commercialised."
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