Highlights
- CD Projekt hit $52.5 million in Q1 revenue, fueled by a 36% jump in The Witcher IP earnings.
- A new The Witcher 3 expansion, Songs of the Past, is set for 2027, with Xbox Game Pass driving steady revenue.
- The studio is adopting a parallel development model to accelerate The Witcher 4 and the next Cyberpunk sequel.
Geralt of Rivia is far from retirement. CD Projekt has surprised fans by announcing a brand-new expansion for its twelve-year-old masterpiece, The Witcher 3: Wild Hunt. Titled Songs of the Past and co-developed with studio Fool's Theory, the expansion is already in advanced development and slated for a 2027 release. This blockbuster reveal arrives just as the beloved dark fantasy RPG officially surpasses a staggering 65M lifetime sales, a milestone that helped fuel a 6% climb in the studio's total first-quarter revenue to PLN 191 million ($52.5 million USD).
While the White Wolf is stealing the current spotlight, Night City remains the studio's heaviest hitter. The Cyberpunk franchise brought in PLN 140.1M ($38.4M) during the quarter. Though this marks a slight 4% decline from the previous year, it was beautifully offset by the Witcher IP, which saw its revenue surge by an impressive 36% to reach PLN 44.7M ($12.2M). This steady flow of cash was largely driven by modern subscription strategies. CFO Piotr Nielubowicz noted that putting the base edition of Cyberpunk 2077 and The Witcher 3: Complete Edition on Xbox Game Pass Premium and Ultimate generated a highly solid revenue stream for the company, as per Gamingindustry.biz.
Although the company's overall net profit saw a small dip, falling to PLN 106M ($29.1M) from the previous quarter's PLN 111.7M ($30.7M), the studio's war chest remains formidable. CD Projekt ended March with a massive PLN 1.4B ($384.9M) in cash reserves, perfectly positioning them to aggressively expand their development workforce. The studio now boasts 975 developers, with a massive 513-person team actively building The Witcher 4, while another 163 developers are assigned to the upcoming Cyberpunk sequel.
Steam
Shifting to Parallel Development for Faster Future Releases
This multi-project approach marks a massive evolution for the Polish developer. Historically, the studio operated on a three- to six-year game production cycle, pouring all its resources into one major release at a time before even starting conceptual work on the next. Now, backed by deep pockets and external collaborations, CD Projekt is shifting gears.
The studio is actively working in parallel on several productions to ensure fans won't have to wait nearly as long between future releases. Joint CEO Michał Nowakowski emphasized that engaging in wider distribution channels and publishing updates for the newest hardware will continue to expand their player base, keeping these legendary universes alive and thriving while the next generation of games is being built.
