Finnish game developer Remedy has published its annual report for 2024, and included in the document is the disclosure of how much money the company is spending on its upcoming games. This is something of a rarity in the video game business, as many other publishers and developers hide development budgets.
Remedy said the “initial” development budget for Control 2 is €50 million ($54 million USD). As announced previously, Annapurna Pictures is funding 50% of the game’s development budget, and both Remedy and Annapurna plan to create “original stories” spanning film and TV based on Remedy’s game franchises.
FBC: Firebreak, meanwhile, carries a development budget of €30 million. FBC is a session-based, multiplayer PvE game that will be “mid-priced.” It’ll also be available at launch via PC Game Pass, Xbox Game Pass, and PlayStation Plus. Remedy owns the Control IP, of which FBC is a spin-off.
FBC: Firebreak Reveal Trailer | Xbox Partner Preview 2024
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The Remedy document also mentions the upcoming Max Payne 1&2 remakes, which are funded by Rockstar Games. A specific budget was not disclosed, but Remedy said it’s “in line with a typical Remedy AAA game production.”
For comparison, Alan Wake 2 had a reported budget of €70 million ($75.8 million), which included €20 million (€21.7 million) in marketing costs. Epic Games funded Alan Wake 2. The marketing budgets for Control 2 and FBC have not been disclosed.
By contrast, the development deal for the ill-fated Sony shooter Concord was said to be $200 million or more. It also recently came to light that WB Games might have spent $100 million on Wonder Woman before cancelling it. Every game is unique, and so is the environment surrounding it, so no comparison could ever be complete or fair.
Remedy published a group of financial documents today. In addition to the annual report, a year-end financial statement report confirmed that revenue grew during 2024. However, the company’s total operating loss was €4.3 million ($4.7 million USD), which was far better than the annual operating loss of €28.63 million ($31 million USD) the year prior.
Another document revealed new details on how much money Remedy staffers and executives made in 2024. The average salary of a Remedy employee in 2024 was €63,907 ($69,284), which was up from €63,822 ($69,162 USD) in 2023 and €60,103 ($65,149 USD) in 2022, but down from €67,862 ($73,500 USD) in 2021. This average excludes salaries for Remedy’s CEO and members of the board of directors.
Remedy’s CEO, Tero Virtala, made a salary of €210,240 ($227,958 USD) in 2024, the same exact number he made in 2023. His total pay package was larger in 2024, though, as it also included €79,820 ($86,500 USD) in “long-term incentive rewards,” giving him a total pay package in 2024 of €290,060 ($304,000 USD). Virtala also has a stock option plan that could prove to be lucrative in the future, but in 2024, he did not exercise or sell any options in 2024.
