Remedy revenue up 57% in 2019 thanks to Control

Remedy revenue up 57% in 2019 thanks to Control

Revenue at Finnish games studio Remedy was up almost 60 per cent year-on-year in 2019 thanks to new title Control.

That's according to the company's financial report for the year, which saw the firm making €31.6m ($34.14m) for the 12-month period, while operating profit saw a colossal 973 per cent hike to €6.5m ($7.02m).

The majority of this cash flow came from Control, which was released in August 2019, as well as development payments Remedy has received for the single-player portion of Smilegate's Crossfire.

The firm also saw €2.5m ($2.7m) in royalties from previously released games.

Remedy also increased its headcount by 24 per cent year-on-year.

“2019 was a good year financially for Remedy and an important milestone in our longer-term growth plans," CEO Tero Virtala said.

"We set a growth-oriented strategy in early 2017 and since then have built new game teams, initiated new projects, developed our skills and improved how we work and collaborate. In 2019, we finalized and launched Control, the first of the four games we have been developing as part of our longer-term growth plans."

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Alex Calvin is a freelance journalist who writes about the business of games. He started out at UK trade paper MCV in 2013 and left as deputy editor over three years later. In June 2017, he joined Steel Media as the editor for new site In October 2019 he left this full-time position at the company but still contributes to the site on a daily basis. He has also written for, VGC, Games London, The Observer/Guardian and Esquire UK.