CD Projekt Becomes Most Valuable Video Game Company In Europe
The CD Projekt Group, the owner of The Witcher III: Wild Hunt developer CD Projekt Red and digital distribution platform GOG, has now become the most valuable video game company in Europe. This means that the award-winning company that is now preparing Cyberpunk 2077 for the upcoming release is currently larger than the French game company in terms of market capitalization.
So to put it into perspective, CDP is currently valued at €8.01 billion (PLN 36.5 Billion) whereas Ubisoft is currently worth €7.82 billion (PLN 35.6 Billion). It is worth noting however, that CDP generated a total of PLN 521 million in revenue and PLN 175 million in net profit, whilst Ubisoft claimed a hefty PLN 1.89 billion revenue alone in their Q3 of the financial year 2019.
Despite initially releasing in 2015, The Witcher 3: Wild Hunt remains one of the most popular games today. Its massive open world provides players with over one hundred hours of content, and the recently added cross save feature between PC and Switch have given fans a new reason to purchase the game on a handheld platform.
CD Projekt can contribute its recent success to more than just The Witcher though. Cyberpunk 2077, a futuristic RPG that’s due out in September, has massive amounts of hype surrounding it. A majority of the industry is expecting the game to be a once in a generation experience, meaning CD Projekt’s stock prices are staying high with plenty of optimism for the future.
In March, CD Projekt said the title The Witcher 3: Wild Hunt had sold almost 30 million copies. Over six million were sold in 2019, when the game debuted on Switch more than in any other year except 2015, when the RPG was released for PS4, Xbox One and PC.
Although Ubisoft may lead the race with a reported value of $9.6 billion, the publisher has many more acclaimed franchises than CD Projekt. Despite Ubisoft being the home to Assassin’s Creed, Tom Clancy games, WatchDogs, and the Far Cry series, CD Projekt, a two-franchise publisher, is right on the company’s tail.
When The Witcher 3 first hit shelves 5 years ago, CD Projekt established itself as one of the best video game companies working today. The hard work has certainly paid off, and we’ll just have to wait and see if the Polish publisher continues trending in the same direction.
Already one of the most highly anticipated games of the decade, Cyberpunk 2077 is expected to see huge sales numbers when it launches in September.