The Witcher Surpasses 25 Million Copies Sold; CD Projekt 2016 Financial Results Revealed
Today, video game developer, publisher, and distributor CD Projekt — aka CD Projekt Red and GOG.com — released its 2016 financial reports, boasting yet another strong year for the Poland-based company.
According to CD Projekt, revenues of the Capital Group continued to be dominated by ongoing strong sales of The Witcher 3: Wild Hunt and the game’s two expansion packs, including Blood and Wine, which released last year in May.
Revenues generated by the sales of The Witcher 3 and its expansion packs have, since the base game’s release in May 2015, topped 1 billion PLN. The 2016 revenues and net profit of CD Projekt were equivalent to 75% of the corresponding figures for 2015, which is the year The Witcher 3 launched.
According to CD Projekt, the “excellent” financial results of the last two years enable the company to “pursue new, ambitious undertakings” and further expand its enterprise. Key development projects currently underway are Cyberpunk 2077 and GWENT: The Witcher Card Game.
By the end of year cumulative development expenses borne in conjunction with ongoing work on futures releases were 62 million PLN. In 2016 alone, CD Projekt spent nearly 56 million PLN on projects in progress. Despite this unprecedented financing requirements of its new games — the Group was able to post 204 million PLN in positive cash flows.
Adam Kiciński, President of CD PROJEKT accompanied the report with the following statement:
For years we have consistently prioritized quality and focused on a limited range of products. The persistently strong sales of the entire The Witcher series vindicate our approach and contribute to long-term appeal of our releases.
Kiciński goes on to reveal that between the launch of The Witcher in 2007 and the end of 2016, the series has sold over 25 million copies: which is not too shabby when you consider how niche the series started.
For 2017, CD Projekt will focus on expanding The Witcher brand with the the standalone GWENT game. The company is currently in the process of organizing the game’s first major tournament, with a $100,000 USD prize pool. Another crucial round of beta tests will commence in the spring, with a full release to come sometime in the second half of 2017.