Remedy eyes PS4 development after 20% revenue rise

Finnish studio's last PlayStation game was Max Payne 2

Remedy Entertainment saw a 20% rise in revenue in the last fiscal year, and it marked the announcement by confirming that a new project will see it return to developing for PlayStation.

For the year ended in March, Remedy earned an operating profit of €3.9 million on €16.4 million in revenue, the latter representing a 19.4% increase over the prior year. The Finnish company's last game, Quantum Break, was released in April 2016, and the company cited it as a key contributor to that growth.

Quantum Break was a Microsoft exclusive, launching for both Windows PCs and the Xbox One. The same was true of Remedy's previous big console project, the long-in-development Alan Wake and its digital expansion American Nightmare. The last console game that Remedy launched for a Sony console was Max Payne 2: The Fall of Max Payne in 2003, but that is poised to change.

Remedy currently has two products in development: the story mode for Crossfire 2, the sequel to SmileGate's hugely popular shooter, and a still unannounced project codenamed "P7."

"The company's strategy is to release the game on a wider range of platforms, which is why Remedy is developing its Northlight technology also for PlayStation 4 consoles," said Thomas Puha, Remedy's head of communications, referring to the proprietary technology used to create Quantum Break.

Remedy has also added two new board members: Jussi Laakkonen, CEO of Unity Technologies Finland, and Accendo Capital founder Henri Österlund.

"Over 20 years on the top of the global gaming industry is a great milestone achieved only by few other independent game companies," said CEO Tero Virtala, who has been at the head of the company since August 2016. "Our new board members bring solid experience from both gaming and financial industries and help us in executing Remedy's growth strategy and to succeed also in the future."

We spoke to Virtala shortly after he was announced as CEO, when he outlined his plan to use Northlight to move Remedy towards shorter production times and a multi-project development structure.

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Latest comments (4)

Greg Technology Services, Office Depot5 years ago
Max Payne is an All-Timer as far as Franchise go.

But does Remedy have the vision to conform to the evolving expectations of AAA Game enthusiast currently or looking ahead? Studios such as Guerrilla Games do, and knocked it out of the park, while other studios such as 343 have been less courageous and come off as old and dated as a result. Remedy's next game will define what perceived direction they are going to go.

Edited 4 times. Last edit by Greg on 11th April 2017 1:26pm

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Jeff Kleist Writer, Marketing, Licensing 5 years ago
After QB didn't sell up to snuff (why I'm still not sure, it was great except for the constant trashing of the TV bit), I'm hardly surprised that they aren't eager for another round of exclusivity.

Now they just need to realize that they need to do Alan Wake HD and Alan Wake 2-12, in the best interests of the company immediately ;)
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Ben Link Video Game Enthusiast and Graphic Artist 5 years ago
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Paul Jace Merchandiser 5 years ago
I would love to see Alan Wake 2 as well, but that's probably not what they are bringing to the PS4. It sounds like it will be a new multi-platform game based on the code name.
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