CD PROJEKT has published a financial report for the past year. The Polish gaming giant is showing excellent performance both in terms of revenue and profit. The report also announced the revenue of the Cyberpunk 2077 franchise for the entire period of operation and gave an update on the company's future line of projects.
Key figures
- According to the report, CD PROJEKT earned 1.23 billion zlotys ($308.4 million) in 2023. This is 29% more than the year before. Gaming sales accounted for 85% of revenue.
- Last year, Cyberpunk 2077 brought the company 852 million zlotys ($213.6 million). This is 81.5% more than in 2022. The main driver of growth was the release of the paid add-on Phantom Liberty.
- The Witcher series (three parts plus additions to them) generated a box office of 158.7 million zlotys ($39.8 million). This is 23.7% less than a year earlier.
- Game Store Earnings GOG.com It amounted to 234.9 million zlotys (58.8 million dollars) last year. Its revenue grew by 24.5% year-on-year.
- North America continues to be a key region for CD PROJEKT in terms of finance. The region accounted for 71% of all sales. Europe is in second place with 18.7%, followed by Asia with 6.6%. Poland, native to the company, is responsible for 2.5% of sales.
- The net profit of the developer amounted to 481.1 million zlotys ($120 million) in 2023. This is 39% more than the authors of Cyberpunk 2077 received the year before.
- In terms of sales and profits, 2023 was the second most successful year in CD PROJEKT's history. The company earned more only in 2020, when its revenue amounted to $ 560 million and profit was $ 303 million.
- The company also reported that the total revenue of the Cyberpunk 2077 game since its release in 2020, as well as taking into account sales of Phantom Liberty, reached 3 billion zlotys ($ 752 million).
- This means that the development of the game and its add-ons paid off and brought the company significant profits. Recall that $ 316 million was spent on the creation of the original game, and $ 84.5 million was spent on the addition to it.
Games in development
In her presentation, CD PROJEKT also shared news about the five games that she is currently either developing or overseeing the creation of.
- Project Polaris, the next numbered game in The Witcher franchise, is in pre—production;
- Project Sirius, an offshoot of The Witcher series, which is being handled by The Molasses Flood studio, is also in pre—production;
- A remake of the first The Witcher, which is developing Fool's Theory, which has just released the role-playing game The Thaumaturge, is at the stage of discussing the concept;
- Project Orion— the sequel to Cyberpunk 2077, is also at the stage of discussing the concept;
- Project Hadar — a project for a new IP — at the IP discussion stage.
The CD PROJEKT command
At the end of February 2024, the company employs 627 employees in development. The largest team — 403 people are employed by Project Polaris. The second largest team — 47 people — is engaged in the continuation of Cyberpunk 2077, the third — 37 people — Project Sirius, the least people are employed by Hadar — only 20 employees. 17 people are involved in supporting the first part of Cyberpunk 2077, and 95 more employees are directly responsible for other areas of work (QA, localization, analytics, working with AI, and so on).
In 2023, CD PROJEKT significantly increased costs. Spending directly on the development of new products, as well as on research, has increased (in this case, the cost of work leading directly to development).
The company is not going to limit itself to game development.
"We plan to work on several projects within our franchises at once, including those that do not relate to video games. Speaking of Cyberpunk, our next challenge here, given the excellent reception of the anime series Cyberpunk: Edgerunners, is the launch of a motion picture in collaboration with the famous production studio Anonymous Content," Michal Nowakowsky, CEO of CD PROJEKT, said during the presentation of the report.