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Remedy Entertainment has made more than a few moves to retain its independence in today's tougher gaming market. A couple of years back, the company took on investments from companies like Epic Games and Tencent, both in the form of publishing agreements and traditional stock trades. Now, Remedy has secured an additional €15 million to support in-development projects.
In recent months, Remedy Entertainment has spun up a new deal with Annapurna Interactive to aid in the development of cross-media projects, like films and TV shows based on Remedy titles like Control and Alan Wake. Now, to aid in the self-publishing of upcoming games like Control 2, Remedy Entertainment has entered a loan agreement with Tencent for €15 million.
“Part of Remedy’s long-term strategy has been to strengthen our position in the value chain, to have more control over how our games are commercialized, and to grow our share of the value these games can create. As we move towards self-publishing, this financing will support us in developing and fully realizing the potential of the games we have in development and successfully carrying out the commercial activities of our next self-published games.”
While Remedy Entertainment is an independent studio, in the past, it has had to rely on publishing deals to get games out to the masses. This has resulted in lengthy periods of zero royalty payments for releases like Control and Alan Wake 2. With this move, Remedy aims to rectify that for future games, like Control 2, or Project Condor, both of which are moving into production this year.
The exception here is the upcoming Max Payne 1 & 2 Remake, as Rockstar owns the IP and will be publishing the title.
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KitGuru Says: Tencent already owns around 15 percent of Remedy Entertainment, so this loan will no doubt work favourably for them. That is, as long as Remedy can continue to produce at a high level, as it did with Control and Alan Wake 2.
