Don't Nod posts record revenue for 2023, reorganizing its business into three genre-based branches

Don’t Nod has released its financial report for the full 2023. The French company has reached record revenues, also announcing a reorganization of its business to strengthen its position in the three genres it specializes in.

Banishers: Ghosts of New Eden

Financial highlights

• According to its 2023 business review, Don’t Nod reached €32 million in operating revenues in 2023, up 6.8% year-over-year.
• Game sales grew 207% year-over-year to €2.9 million, driven by initial sales of Jusant and strong performance of the company’s back catalog.
• In 2023, Don’t Nod increased its costs on games under development by 16.8% to €26.8 million. It currently has seven projects in the works, including five in-house titles and two third-party games.

• After reviewing the value of its IPs on the balance sheet, the company wrote off €10.5 million from its fixed assets.
• Despite increased revenues, Don’t Nod noted that 2023 was a challenging year due to oversaturation of the market, with its games having to compete with many major releases. As a result, Banishers: Ghosts of New Eden was delayed to 2024 and Harmony: the Fall of Reverie generated less revenue than it potentially could have.

Reorganization of Don’t Nod

According to Don’t Nod CEO Oskar Guilbert, the company wants to “refocus our strengths on the three genres in which we excel with a balanced publishing model to maximize revenues from our Intellectual Properties while keeping our financial commitments under control.”

As a result, it will reorganize its business into three branches, each focused on the specific genre

• Action RPG — games like Vampyr and Banishers: Ghosts of New Eden;
• Action adventure — games like Remember Me and the upcoming Lost Records: Bloom & Rage;
• Narrative adventure — games like Life is Strange.

Within each branch, Don’t Nod will function as both developer and publisher, making its own games and working with third-party studios. With this move, the company plans to “consolidate its expertise in the development of AA+ games.”

Don’t Nod also told GamesBeat that it has no plans for layoffs as part of restructuring, so the new strategy won’t affect any of its 350 employees.