The third largest profit in history and a partnership with Scopely: key highlights from CD PROJEKT's annual report
The Polish group of companies, CD PROJEKT, reported last year's performance. They announced record development expenses and revealed plans to release a mobile game in collaboration with the creators of MONOPOLY GO!.
The Witcher IV
Key Highlights from the Report
- In 2024, CD PROJEKT earned 985 million PLN ($255 million). Compared to 2023, their revenue dropped by 20%.
- Net income fell by 2% to 469.9 million PLN ($121.6 million). Despite the decline, this still ranks as the third-best result in CD PROJEKT's history, surpassed only in 2023 and 2020.
- The majority of the revenue, as usual, was brought in by CD PROJEKT RED — 801.6 million PLN ($207.5 million, -22.8%). The GOG store generated another 199.3 million PLN ($51.6 million, -15.2%).
CD PROJEKT revenue, its divisions, and games
- Cyberpunk 2077, along with the Phantom Liberty expansion, earned 588.8 million PLN ($152.4 million) in 2024, a third less than in 2023. Digital versions accounted for 95% of this amount. Regionally, the majority of the game's and DLC's revenue came from North America (40.3%) and Europe (30.7%). By platform, PC led with 62%, followed by PlayStation (26%) and Xbox (12%).
Revenue breakdown of Cyberpunk 2077 and Phantom Liberty for 2024 by region
- The annual revenue from The Witcher series and their expansions amounted to 163.4 million PLN ($42.3 million), up by 3% compared to 2023.
- Europe remained the main region for The Witcher 3: Wild Hunt, accounting for 36.5% of the game’s revenue in 2024. North America contributed to 28.9% of the annual revenue. The revenue breakdown by platform was as follows: PC held 43%, PlayStation 38%, Nintendo Switch 11%, and Xbox 8%.
Revenue breakdown of The Witcher 3: Wild Hunt for 2024 by region
- Throughout the year, CD PROJEKT spent 695.4 million PLN ($180 million) on game development. This is a record amount for the group. For comparison, expenses in 2023 were 32% lower.
- The Witcher IV will not be released before 2027. Currently, the game's team comprises 411 developers.
Number of developers in various CD PROJEKT game teams
- By the end of the year, CD PROJEKT's financial reserves in the form of cash, bank deposits, and bonds amounted to 1.47 billion PLN ($381 million). They grew by 10% since 2023.
- In the report, CD PROJEKT announced a partnership with the mobile publisher and developer Scopely. Details of the agreement are not fully disclosed, but it is known that the creators of MONOPOLY GO! will be working on a game based on one of CD PROJEKT's franchises.