CD Projekt RED doing great on Steam and Warsaw Stock Exchange
CD Projekt RED announced that the Steam version of The Witcher 3: Wild Hunt has generated over $50 million in revenue since October 1st 2018. Around that time, Valve’s storefront introduced a tiered revenue split system. For each title that has brought in over 50 million, Steam now takes 20% of its subsequent revenues. That means that from now on, CD Projekt RED will keep 80% of The Witcher 3’s sales on Steam.
The accumulated revenue from sales of The Witcher 3 on @Steam platform for the period of time between October 1st 2018 and today has exceeded 50M USD. As a result, we are now getting 80% on any subsequent sales of TW3 on Steam.
Thank you all for your support! pic.twitter.com/JgNgrrI5h0— CD PROJEKT IR (@CDPROJEKTRED_IR) February 20, 2020
Of course, CD Project RED has been doing great even before reaching that milestone on Steam. According to SegmentNext, the studio became the third largest company on the Warsaw Stock Exchange. This happened when the company’s capitalization exceeded $8 billion (31.52 billion PLN). The only two companies that are still ahead in terms of capitalization are PZU, a Polish insurance company, and PKO BP, Poland’s largest banking chain.
Folks at SegmentNext believe that the upcoming release of Cyberpunk 2077 might fuel further growth in the company’s stock price. So much, in fact, that the studio might end up at the top of the Warsaw Stock Exchange.
But even its current market valuation makes CD Projekt RED the second-largest video game company in Europe. It’s only surpassed by Ubisoft, which is worth $9.6 billion.
