Remedy Entertainment provides updates on their upcoming releases based on their latest financial reports from January to March 2024. Read on to learn more about the updates regarding each of their upcoming games and more.
Remedy Entertainment Shares Updates on Their Upcoming Releases
Control Sequel Entering "Full Production"
After the successful release of Alan Wake 2, Remedy Entertainment has quietly ramped up its development on several of its upcoming releases. According to their latest financial reports, the sequel to the award-winning Control, Codename Condor, is moving from the "production readiness stage" to "full production," meaning that the game is currently in its final leg of development before it is launched.
Codename Condor is described as the studio’s "first step towards service-based games," with a starting development budget of €25 million ($27 million). Developed with Remedy’s in-house Northlight engine, it is currently slated for release on PC, PS5, and Xbox Series X|S. Additionally, the game will be a "service-based fixed price" game rather than a free-to-play title, as stated by Remedy.
Max Payne Remakes Get a Budget Increase
In the same document, the remakes for the first and second Max Payne games also have updates listed. The game is described as currently continuing in the production readiness stage and is expected to be in full production by the second quarter of 2024.
To add to this, Remedy has also confirmed that they have received a budget increase for the remake courtesy of Rockstar Games. Remedy CEO Tero Virtala remarked that the main reason for the budget increase was due to the project’s rising costs.
Tencent Massively Increases Their Shares in Remedy
Related to the financial reports, it’s listed that the China-based tech conglomerate, Tencent, has increased their total number of shares to 14.8% of Remedy. Originally, the company only had 3.8% shares back in 2021 and steadily increased it to 5.01% the year after. Their partnership is scheduled to bear fruit in an upcoming multiplayer project with the codename: Kestrel, which has since been rebooted back to its concept stage after deciding that it shouldn’t be a free-to-play multiplayer game.
Tencent is known to be a company that has its eggs – or investments – in many game studio baskets. These companies are Riot Games, Epic Games, Bluehole, Ubisoft, Activision Blizzard, and more.
Source:
Remedy Entertainment - Financial Report January to March 2024
Remedy’s Control multiplayer game has entered full production
Remedy’s free-to-play multiplayer project Vanguard is now Kestrel, a ‘premium’ co-op game
Tencent has increased its shareholding in Remedy to almost 15%
Control 2 To Enter Production Readiness In Summer 2024
Max Payne Remakes Budget Increased; Production Begins June 2024
Every game company that Tencent has invested in
