Remedy Entertainment has shared positive updates for the fourth quarter of 2024, with Alan Wake 2 hitting a major milestone by selling over two million units and starting to generate royalties. In a detailed statement, CEO Tero Virtala highlighted a 13.1 percent increase in revenue compared to the previous year, reaching EUR 11.7 million. This growth was partly driven by higher development fees from ongoing projects like the Max Payne 1 and 2 Remake and Control 2.
Virtala noted that royalties, while lower than the same period last year, primarily came from sales of Control, older Alan Wake titles, and the newly successful Alan Wake 2. By the end of the fourth quarter, Alan Wake 2 had not only recouped its development and marketing costs but also began earning royalties, marking a key financial achievement for the game.
The quarter also saw significant progress across Remedy’s broader portfolio. Alan Wake 2 remained a focal point, with the launch of The Lake House expansion on October 22, which was well-received by players. This coincided with the release of the physical retail edition of the Alan Wake 2 Deluxe Edition. In November, following the launch of the PlayStation 5 Pro, Remedy released a Pro-specific update for Alan Wake 2, along with multiple quality improvements across all platforms. These updates helped the game reach the two million unit sales milestone by the end of Q4 2024.
Remedy has also been expanding its self-publishing team, adding new members to manage the FBC Firebreak brand and marketing efforts. FBC Firebreak is now in full production, and in December, the development team conducted a closed technical test with external players, focusing on matchmaking and backend services. The data gathered will help shape the final product, which Remedy plans to self-publish in 2025.
Control 2 has also reached a significant stage, entering full production in February 2025 after completing the production readiness phase. The project has verified asset creation speed and established strong production pipelines, setting it up for further scaling and eventual release.
Meanwhile, the Max Payne 1 and 2 Remake is progressing steadily in full production. The development teams are working closely with Rockstar Games to meet key objectives, ensuring the remake meets the high expectations of longtime fans.
Remedy’s fourth-quarter report for 2024 indicates a recovery and growth trajectory. Although the operating profit was EUR -1.4 million, this represents an improvement of EUR 11.4 million compared to the previous period, which had suffered from a significant impairment loss associated with a project codenamed Vanguard.
