A paid expansion for The Witcher 3 is projected to release in May 2026, according to a new analyst report from Noble Securities. The forecast comes from Mateusz Chrzanowski, an analyst at the firm, who maintains an accumulate rating for CD Projekt stock and has revised internal schedules and budget expectations for the company’s flagship projects.
In his latest report, Chrzanowski outlines a revised production and release timeline that places a new Witcher 3 expansion ahead of The Witcher 4, which is now expected to launch in the fourth quarter of 2027. The analyst anticipates that the expansion will serve as a “marketing kick-off” for the next mainline entry in the series, aligning its release with the early promotional phase of The Witcher 4. He further estimates that the expansion could sell 11 million copies within its first year at a 30 USD price point, supported by an estimated production budget of 52 million PLN.
The report also reflects broader financial adjustments across CD Projekt’s upcoming slate. Noble Securities has increased its target price for CD Projekt shares to 283 PLN, citing higher production and marketing expenditures tied to the new Witcher trilogy. According to the updated projections, the production budget for The Witcher 4, also referred to as Polaris, has been raised to 1.4 billion PLN, with an additional 1.4 billion PLN allocated for marketing. The total budget for the trilogy has increased from 2.1 billion PLN to 3.2 billion PLN, although shared technology and marketing synergies are expected to reduce costs for later entries.
Additional long-term projections were also included. Project Orion, the Cyberpunk sequel featuring a multiplayer component, is now forecast for a fourth quarter 2030 release, coinciding with the tenth anniversary of Cyberpunk 2077. The development team currently numbers 135 people and is expected to double within two years, with an estimated budget of 1.5 billion PLN. Other projects, including Sirius and Canis Majoris, have been pushed to 2028, while Hadar remains in a pre-conceptual phase with its timeline extended to 2032.
