Polish gaming company CD Projekt Red has announced a significant increase in net profit for 2022, driven by its flagship titles The Witcher and Cyberpunk 2077. The firm reported a 66% surge in net profit, up from $49 million USD to $81 million USD. The company attributes this increase to higher revenue and a drop in operating costs. CDPR reported a revenue of $222 million USD in 2022, up from 207 million USD the previous year.
Key Highlights
The increase in revenue for CD Projekt Red was largely driven by Cyberpunk 2077’s launch. Despite its initial rough start, the game has seen solid sales after CDPR committed to fixing the issues and adding extra content. Edgerunners, a Netflix original anime set in the same universe as the game, has also given the title an extra boost late in 2022. CDPR reported a 7% YoY increase in revenue for 2022, and a 18% decrease in operating costs. This decrease is largely attributed to a decrease in expenses associated with fixing Cyberpunk 2077, and cutting research costs for upcoming projects.
The Restart of Project Sirius
Project Sirius, the next major Witcher universe project, has gone through various iterations, with the development team deciding to restart the project. This follows the delay of the Witcher 4, which has yet to begin full production. The Witcher 4 was originally slated to release in 2023 and was meant to be CD Projekt Red’s fiscal blockbuster for the year. However, the company has not been able to confirm a release date for the game, and reports suggest that it is still in the conceptualization stage of development.
Cyberpunk 2077 Expansion Phantom Liberty to be released soon
CD Projekt Red has announced that the marketing campaign for its Cyberpunk 2077 expansion, Phantom Liberty, will begin in June. The firm has been tight-lipped about the upcoming expansion, but has teased expanded gameplay, new mechanics, new characters, and a second chapter of the story. Phantom Liberty is expected to be released in November 2023.
The Future For CD Projekt Red
Despite the increase in net profit, CD Projekt Red has not been able to achieve the same level of success it saw in 2020 following the release of Cyberpunk 2077, which took the firm’s profits to a whopping $268 million USD. The Witcher and Cyberpunk franchises are expected to propel the firm’s success in 2023, but no concrete announcements have been made about future titles or projects beyond Phantom Liberty.
Conclusion
CD Projekt Red has announced a major boost in net profit, driven by Cyberpunk 2077 and The Witcher. Despite the rough start for Cyberpunk 2077, continued support and content updates have led to solid sales, boosted by the success of the Netflix anime Edgerunners. CDPR has also announced the restart of Project Sirius, the next major project in the Witcher universe, as well as teased the release of the upcoming Cyberpunk 2077 expansion, Phantom Liberty, scheduled for a November 2023 release.
