On March 25, 2025, CD Projekt announced ambitious plans to expand the universe of its popular video game, Cyberpunk 2077, as it prepares for the game’s release on macOS. This strategic move aims to attract a new wave of players to the fictional Night City, enhancing the game's growing community. Michał Nowakowski, co-CEO of CD Projekt, expressed enthusiasm for the expansion, sharing through a letter attached to the company’s 2024 report that the release would pave the way for further initiatives within the franchise.
“We have a further offensive in this world [Cyberpunk 2077] - the game's premiere on the macOS platform will allow us to reach new players and further expand the community of Night City,” Nowakowski wrote. He noted that this launch would coincide with a new animated project set to debut on Netflix in the future, indicating that CD Projekt is not resting on its laurels but actively looking to broaden its horizons within the video game market.
In the 2024 fiscal year, despite not releasing new titles, CD Projekt's revenues reached nearly 1 billion PLN (approximately $248 million), showcasing resilience amidst a changing gaming landscape. Their financial performance for the year was noteworthy, with a net profit recorded at 470 million PLN, just slightly down from 481 million PLN in 2023.
“Despite the lack of premieres, the net gain achieved last year was the third highest in the history of the Group,” stated Piotr Nielubowicz, CD Projekt's CFO. This reflects a robust performance driven primarily by the enduring popularity of their flagship titles, Cyberpunk 2077 and The Witcher 3, which still hold strong appeal among gamers after several years.
Cyberpunk 2077 notably generated revenues close to 600 million PLN last year, bolstered by the Phantom Liberty expansion, which alone sold over 8 million copies as of November 2024. Cumulatively, sales exceeded 30 million copies since the game's launch, further solidifying its place in gaming lore.
Looking beyond Cyberpunk, CD Projekt has set its sights on The Witcher series as well, which entered a new development phase with the announcement of Witcher 4, also known as Project Polaris. Nowakowski confirmed that the game is currently in full-scale production, which has attracted 411 developers as of February 2025.
“The first trailer for the game, showcased at The Game Awards in December, received an enthusiastic reception from players and global media,” Nowakowski remarked, highlighting the excitement surrounding the franchise's return. The announcement that Ciri would be the main character has generated significant buzz and interest.
Despite the positive news surrounding the franchises, the announcement regarding Witcher 4's release schedule disappointed some investors. At a recent conference, Nielubowicz clarified that Witcher 4 will not launch until the first milestone of their incentive program is met, which ends on December 31, 2026. This led to an abrupt drop in CD Projekt's stock price by over 10 percent on March 26, 2025, as investor expectations shifted dramatically in light of this news.
Currently, CD Projekt is not only focusing on its well-known titles but also exploring new projects. Interestingly, a small team working on a remake of the original Witcher has been allocated to assist in the Witcher 4 production, signaling collaborative efforts aimed at enhancing overall franchise quality and continuity.
As development proceeds, the studio is also working on various other titles, including Cyberpunk's Project Orion, which is in the conceptual stage involving 84 developers, and Project Sirius, a new Witcher title being worked on by 49 developers as of the end of February. This breadth of projects showcases CD Projekt's strategic expansion and commitment to innovation in gaming.
Moreover, CD Projekt has fostered partnerships with other industry leaders, like Scopely, to develop new games based on its intellectual properties. Such collaborations are crucial as the gaming landscape continues to evolve and demand fresh content to capture player interest.
While CD Projekt's financial situation remains stable—boasting almost 1.5 billion PLN in cash, providing a solid financial cushion for future developments—the company is acutely aware of the volatility in market expectations. The company’s commitment to quality and innovation remains evident, even as they navigate the complexities of launch schedules and investor sentiments.
Ultimately, the approach taken by CD Projekt, balancing aggressive growth initiatives within its existing franchises while leveraging collaborations for new creations, showcases a dedicated strategy to thrive in an ever-competitive market. The trajectory they chart over the coming years, particularly with the impending release of Witcher 4 and the macOS version of Cyberpunk 2077, will be critical in determining their long-term success.
