Despite currently only having one major hit to their name the market worth of The Witcher 3 creator CD Projekt is now the biggest in Europe.
Everyone hopes and expects that Cyberpunk 2077 will be as good as The Witcher 3, and as successful, but at the moment Polish publisher and developer CD Projekt has really only ever had one major hit.
The first two The Witcher games were not mainstream successes, with the Xbox 360 version of The Witcher 2 being the only time either of them appeared on consoles. There have been some Witcher spin-offs, notably card game Gwent, but essentially CD Projekt own their current fame to just one game. But that’s been enough to make them the most valuable games company in Europe.
CD Projekt Group also own PC online store GOG.com, which adds a lot to their bottom line, but even so, their market value of 36.5 billion złoty (£7.17bn) is pretty amazing for a company most people hadn’t heard of six years ago.
The CD Projekt Group is also the most valuable company in the whole of Poland, although in part because of the current economic damage caused by the coronavirus pandemic – the resultant lockdown from which has benefited most games companies.
It also pushes the company’s market value past Ubisoft, who are usually regarded as the biggest games company in Europe.
Again, they’re catching Ubisoft at a low point in their fortunes, after having delayed several games and not having had anything major out for a while, but the French company’s current market value is €7.82 billion (£6.98bn).
Ubisoft’s revenues are much higher though, with sales in the last quarter alone of €416.2 million (£371.5m), compared to just 521 million złoty (£102.1m) for CD Projekt over the course of the whole year.
Even so, it’s a huge achievement and that kind of market value gives CD Projekt almost unlimited access to funds they can use for further expansion.
First they’ll want to get Cyberpunk 2077 out of the door though, and prove they’re not a one-hit wonder, which hopefully will happen on 17 September when the game is released on Xbox One, PlayStation 4, PC, and Stadia.
The status of any next generation versions is still somewhat unclear, but CD Projekt has indicated that the game will run on Xbox Series X, at least, at launch.
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