| Remedy Entertainment signs two multi-platform publishing deals
Remedy Entertainment, developer of multiple “Game of the Year” award winner Control, has signed publishing agreements with a major publisher for the company’s next two unannounced video games. The agreements specify that the publisher will fully fund game development costs and that Remedy is entitled to a 50% share of the net revenue from the games’ sales. Remedy also retains the ownership of the games’ intellectual property. The first project is an AAA multi-platform game already in pre-production and previously referred to as the “unannounced third project”. The second is a new smaller-scale project set in the same franchise. Both projects are being developed on Remedy’s proprietary Northlight game engine and tools. More details regarding the partnership between Remedy and the publisher will be announced later today by a press release. The partnership extends Remedy’s strategy of creating and developing its own IP’s into long-term franchises. Both games will be launched on next generation console platforms and PC in the next few years. Remedy’s financial outlook and guidance remain unchanged. The company estimates its revenue and operating profit to increase during 2020. Majority of the revenue and operating profit growth is expected to materialize during the second half-year period. |
