Remedy Annual Report 2021

Key insights

6 takeaways

01
Remedy Entertainment achieved record 2021 revenue of €44.7 million with a 32.9% operating profit margin.See it on page 3
02
The company is transitioning from traditional subcontracting to a multi-project model focused on co-publishing and service-based business structures.See it on page 12
03
Strategic growth is driven by the expansion of the Control and Alan Wake franchises, including the development of Alan Wake 2 in partnership with Epic Games.See it on page 6
04
Remedy is entering the live-service market through a collaboration with Tencent to develop the title Vanguard.See it on page 20
05
The workforce expanded to 294 employees in 2021, supported by the establishment of a new talent hub in Sweden.See it on page 23
06
Financial growth in 2021 was primarily fueled by the releases of Alan Wake Remastered and Control: Ultimate Edition.See it on page 35

Summary

Remedy Entertainment achieved record financial performance in 2021, generating €44.7 million in revenue and maintaining a robust 32.9% operating profit margin. This growth was primarily fueled by the successful releases of Alan Wake Remastered and Control: Ultimate Edition, alongside a strategic transition toward a multi-project development model. By shifting from traditional subcontracting toward co-publishing and service-based business models, the company is actively expanding its position within the global gaming value chain.

The firm’s strategic focus centers on the long-term cultivation of its intellectual properties, specifically through the expansion of the Control and Alan Wake franchises. This approach is supported by a disciplined, multi-stage development process and high-profile partnerships, such as the collaboration with Epic Games for Alan Wake 2 and the engagement with Tencent for the development of the live-service title Vanguard. These initiatives allow the company to capitalize on emerging industry trends, including the rise of subscription services, cloud gaming, and sustained player engagement through live operations.

To support this ambitious portfolio, the organization grew its workforce to 294 employees and established a new talent hub in Sweden. Beyond operational expansion, the company maintains a strong commitment to corporate responsibility, prioritizing a diverse and inclusive workplace culture while implementing energy-efficient practices to minimize environmental impact. By balancing creative development with financial discipline and strategic partnerships, the company has positioned itself to scale its AAA portfolio and secure a more influential role in the evolving international gaming market.