CD Projekt sees 26% revenue increase for H1 2019
CD Projekt Red, the development studio, brought in the vast majority, clocking in at 62% of total revenue.
Johnny Cullen,Fri, 30 Aug 2019 15:30:00
Ahead of a massive 2020 for the company, CD Projekt has revealed an upswing in revenue for the first-half of 2019.
The Witcher and Cyberpunk company revealed a 26% increase in revenue to €50 million ($55.1 million) as part of its first-half 2019 financials. The majority of the figure came from the company’s development studio CD Projekt Red at 62%, with 38% brought in by CDP’s online storefront Good Old Games (GOG).
CDPR’s contributions come from the steady, continued sales of The Witcher 3: Wild Hunt and its expansions Hearts of Stone and Blood and Wine, Thronebreaker: The Witcher Tales, and Witcher card game GWENT.
GOG helped its parent company’s figures with the sales of retro Blizzard games, which were added to the store earlier in the year, with Diablo and the first two Warcraft games going on to become the fastest-selling classic games of all time for the service. “Very strong initial” pre-orders for CDPR’s highly-anticipated Cyberpunk 2077 also contributed to the store’s portion of the company’s revenues, amounting for a third of all pre-orders for the game.
“Our financial result for the first half of the year was again mainly affected by sales of The Witcher 3, which remain strong,” CD Projekt CFO, Piotr Nielubowicz said. “This further confirms our belief that investing in top-quality games pays off, and that such games may continue to sell well for many years. In the first half of 2019 gamers actually purchased more copies of The Witcher 3 than during the first half of the previous year.”
CD Projekt Red is now also a two-franchise studio. The financials confirmed that The Witcher and Cyberpunk franchises are now its two big focuses.
“Managing two separate major franchises, along with several independent development teams, enables the company to conduct parallel work on several projects and smoothens its long-term release schedule," the company noted. "This migration towards a dual-franchise model supported by several independent product lines also permits optimization of manufacturing and financial activities, mitigates important risk factors and makes it easier for company employees to seek professional fulfillment."
The report also seems to suggest there’s more inbound for The Witcher franchise beyond the upcoming release of The Witcher 3 for Nintendo Switch on October 15, which isn’t a shock considering the massive success of the game on other platforms.
But the company’s focus will now turn towards Cyberpunk 2077, which is entering “its final, most intensive phase of development” according to the financial report, ahead of its April 16, 2020 release on PlayStation 4, Xbox One and PC.