Rockstar Games and Remedy Entertainment’s upcoming neo-noir third-person shooter, Max Payne 1 & 2 Remake, will have a development budget similar to that of Alan Wake 2.
In its financial statement for the year 2023, Remedy Entertainment has reported an operating loss of 28.6 million Euros, with he operating profit margin being -84.4% (-1.3%) of revenue. However, after the successful launch of Alan Wake 2, the company expects to see an increase in profit during the year 2024.
The report mentions that development of its upcoming remake continuing in the production readiness stage. The development team made considerable progress throughout 2023. Remedy expects Max Payne 1 & 2 Remake to be a major release with great potential, enabled by a similar development budget as Alan Wake 2.
Remedy Entertainment CEO Tero Virtala mentioned that, during the last quarter of 2023, Alan Wake 2 was the largest project undertaken by Remedy. As such, it required additional personnel throughout the year to ensure its high-quality finalization, causing delays in other projects. However, the successful launch of Alan Wake 2 allowed for resources to be allocated to other game projects, resulting in improved development speed.
With Alan Wake and Control as established franchises, Remedy aims to expand them into recognizable brands with growing user bases, regular sequels, and substantial revenue generation. Despite facing plenty of competition during its release window, Alan Wake 2 had strong sales during its launch period, surpassing 1 million units by the end of the fourth quarter, making it Remedy’s fastest-selling game to date.
According to the company, Alan Wake 2 has already recouped a significant portion of the investment made by Epic Games Publishing, indicating its potential as a revenue and profit driver for the year. In February 2024, Remedy acquired full rights to the Control franchise from 505 Games, a significant step towards realizing their ambitions for the franchise’s growth. While 505 Games was a suitable partner in 2017, Remedy believes a different business model and partner are necessary for the future expansion of the Control franchise.
