Remedy blames revenue drop on €7.2m cost to reboot Project Vanguard ...Middle East

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Remedy blames revenue drop on €7.2m cost to reboot Project Vanguard
source : Eruogamer ( Middle East ) () 161
Alan Wake and Control developer Remedy Entertainment has seen its revenue drop by 22.2 percent for the year.In the studio's recently published financial results, Remedy said its revenue fell to €33.9m, posting an operating loss of €28.6m. This is even with the launch of Alan Wake 2 in October, which is yet to recuperate its development and marketing costs.Remedy CEO Tero Virtala said this decline was due to "increased investments" in the studio's games, as well as the "impairment charge related to Codename Vanguard". This was the studio's free-to-play co-op multiplayer game, which it rebooted and renamed Codename Kestrel in November last year. Read more

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