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June 22, 2021
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Remedy had a record financial year despite lack of new releases

Remedy had a record financial year despite lack of new releases

February 15, 2021 | By Chris Kerr

Remedy delivered a record breaking financial year during 2020, despite the lack of a major new game launch. 

According to its fiscal report for the full-year ended December 2020, revenues increased by 29.8 percent to €41.1 million ($49.8 million), while operating profit rose by 103 percent to €13.2 million ($16 million).

The Finnish studio explained Control, which has topped 2 million sales worldwide, played a key part in that success. The atmospheric shooter launched back in August 2019, but received two expansions in 2020 along with an 'Ultimate Edition' release. 

Remedy said the title has been "selling well through new stores, platforms, and subscription and streaming services," and seemed particularly pleased with digital sales.

"In an increasingly digital market, great games have long life cycles: 15 months after Control’s original release, November 2020 was a record month for digital game copies sold," said Remedy CEO Tero Virtala. 

"Control is a high-quality game that provides a deep, immersive world and gaming-experience, and long-term business potential for years to come. While we continue to support and take Control further, its development team is gradually shifting to work on a new Remedy game."

Looking ahead, Remedy has outlined its strategy for 2021 to 2025 and said it intends to create "several successful games" along with one "major hit." It also wants to own a minimum of three successful franchises "all with long-term hit potential," while raising its profile as "the most attractive gaming industry employer in Europe."

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