New Games Announcement Boosts Cyberpunk 2077 Publisher’s Shares

Date:

Share post:

Shares in Cyberpunk 2077, the game publisher behind the upcoming, highly anticipated video game Cyberpunk 2077, have surged after the company announced a slew of new games it plans to develop over the next year and beyond. Shares in C2077 rose 17% on Monday following the announcement, and they continued to rise throughout Tuesday’s trading session. Analysts say that the company’s new slate of games will help make up for decreased revenue due to slower than expected sales of its current hit product, Cyberpunk 2077 itself.

Following the company’s announcement that it will be working on numerous significant games over the next few years, including new iterations of its well-known Cyberpunk and Witcher franchises, CD Projekt’s stock price increased substantially on Wednesday.

A number of additional games are presently in production, including a successor to Cyberpunk 2077 with the working title “Orion,” according to a late-Tuesday strategy update from CD Projekt. According to the publisher, the game “will further the Cyberpunk genre and keep maximising the potential of this grim future world.”

After rising as much as 9% at the market opening, CD Projekt stock was up about 7% on Wednesday.

It follows a string of catastrophes that have dogged the business for the last two years. After great anticipation, fans were furious when Cyberpunk 2077 released in 2020 due to glitches and subpar platform performance. The launching of the game coincided with the introduction of new Sony and Microsoft devices.

The backlash over the error was so intense at one point Sony had to take the game out of its online PlayStation Store. Later, Cyberpunk 2077 was added back to the service.

Since then, CD Projekt has released a number of upgrades and enhancements to Cyberpunk 2077, and the debut of the anime TV series “Cyberpunk: Edgerunners,” based on the future sci-fi genre, has assisted in reviving interest in the game.

According to CD Projekt, the Witcher franchise’s three games have together sold over 65 million copies and 20 million copies of the Cyberpunk 2077 game.

Hackers stole the source code to many of the company’s games, including The Witcher 3 and Cyberpunk 2077, and sold it on the dark web last year as part of a ransomware campaign. It should be noted that CD Projekt at the time resisted paying the ransom requested by hackers.

Even if CD Projekt’s stock price increased on Wednesday, the company’s shares had dropped more than 40% since the year’s beginning.

The following are additional points from CD Projekt’s strategy update:

To recruit and keep top development talent, the firm presented a stock-based incentive scheme for staff. The programme would be “comparable to those given by our top worldwide rivals,” according to Chief Financial Officer Piotr Nielubowicz.

In order to increase its presence in North America, it is building a new development studio in Boston, Massachusetts.
CD Projekt intends to repurchase shares of its own stock from shareholders for up to 100 million Polish Zlotys ($21 million).

Packed pipeline of games
Three additional Witcher role-playing games, including one with the working title “Polaris,” are anticipated to be released in the upcoming years. The game is a sequel to the studio’s critically acclaimed The Witcher 3: Wild Hunt, and it was previously unveiled by the business in March. Pre-production is now under place.

Although CD Projekt did not provide a release date for the next games, it did state that the three brand-new Witcher games would debut six years after Polaris.

Three additional Witcher role-playing games, including one with the working title “Polaris,” are anticipated to be released in the upcoming years. The game is a sequel to the studio’s critically acclaimed The Witcher 3: Wild Hunt, and it was previously unveiled by the business in March. Pre-production is now under place.

Although CD Projekt did not provide a release date for the next games, it did state that the three brand-new Witcher games would debut six years after Polaris.

Codenamed Hadar, CD Projekt has said that it is developing a completely original game outside of its two primary franchises. The company indicated only that it was “currently in the conceptual phase” without providing much further details.

It was an exceptional instance of openness in the video game business. Big publishers frequently keep their major releases under wraps until they are prepared to show off some aesthetics and gameplay to fans, usually during significant trade exhibitions.

Companies that prefer to release smaller-scale updates instead of grandiose events like the E3 expo include Sony and Nintendo. E3 was once again postponed this year by the organisers because to health concerns around Covid-19, after a cancellation in 2020 and a replacement with a digital version in 2021.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

spot_img

Related articles

The Benefits of a Creative Subscription with Envato Elements

If you’re looking to find and use royalty-free images and other creative resources, it can be tough to...

Get an Additional ₹100 Cashback When You Pay with Domino’s Digital Wallet Partners

How does ₹100 cashback sound? Find out more about the additional cashback you can get when you pay...

Get Unlimited Access to DataCamp’s Library of Online Courses

DataCamp subscriptions enable access to over 300 courses, as well as projects, assessments, and additional content. Whether you're...

Why You Should Buy from DaMENSCH: The Best in Quality, Service, and Value

Buying products online can be dangerous; you never know if you’re getting an authentic product, or one that’s...