CD PROJEKT Report: Two Unannounced Games in Development, The Witcher 3 Has Earned $637 Million Over Its Lifetime
The CD PROJEKT group released its financial report for the first quarter of 2025, which spanned from January to March. It discussed revenue declines, game sales, and its pipeline.
The Witcher IV
- In the first quarter of 2025, CD PROJEKT earned 226.3 million PLN ($60 million) — just 0.2% less than in the same period last year.
- Net profit fell more significantly — by 14% to 86 million PLN ($22.8 million).
- More than half of CD PROJEKT's quarterly revenue was generated by Cyberpunk 2077 and the Phantom Liberty expansion. Their revenue for the first three months of 2025 amounted to 144 million PLN ($38.2 million, -2%).
- Games from The Witcher series and their expansions brought in an additional 29.4 million PLN ($7.8 million, +4%) for the quarter.
CD PROJEKT Revenue, Its Divisions, and Games
- The third part of The Witcher celebrated its 10th anniversary last week. In honor of this, CD PROJEKT boasted that the game, along with its two expansions, has earned 2.4 billion PLN ($637 million) over its lifetime. And its sales — excluding expansions — have reached 60 million copies.
- Sales of Cyberpunk 2077: Phantom Liberty surpassed 10 million copies.
- The geographical distribution of CD PROJEKT's quarterly revenue is as follows: 72.4% of income came from North America, 18.4% from Europe excluding Poland, 3.8% from Asia. The domestic market accounted for 3.9% of revenue.
How CD PROJEKT's Revenue is Distributed by Region
- From January to March 2025, CD PROJEKT spent 8 million PLN ($2.2 million) on game research (i.e., work on games at the very early stage before development) — 60% less than a year ago. Another 99.7 million PLN ($26.5 million, +98%) was spent directly on game development.
- The budget for creating a version of Cyberpunk 2077 for Nintendo Switch 2 is 10 million PLN ($2.65 million).
- Currently, CD PROJEKT is working on nine new projects, three of which are unannounced. According to the group, two unannounced projects are games, and the third is something else. It might be a series, film, or animation based on CD PROJEKT franchises.
- The sequel to Cyberpunk 2077, titled Cyberpunk 2, has reached the pre-production stage. Its development currently involves 96 people. The Witcher IV team comprises 422 developers.
Number of Developers in Various CD PROJEKT Game Teams