CD Projekt has released its financial report for the full year ended December 31, 2024. Despite the lack of new releases and revenue drop, the company’s position remains strong — with The Witcher 4 in full production and an unannounced game from Scopely in plans.
Financial highlights
- According to its earnings presentation, CD Projekt reached PLN 985 million ($255 million) in revenue last year, down 20% compared to 2023.
- Net profit fell 2% to PLN 469.9 million ($121.6 million). Despite a slight decrease, it is the third-best result in the history of CD Projekt — behind only 2020 (Cyberpunk 2077 launch) and 2023 (Phantom Liberty launch).
- CD Projekt Red remained the biggest segment by revenue, falling 22.8% year-over-year to PLN 801.6 million ($207.5 million). GOG generated PLN 199.3 million ($51.6 million), down 15.2%.
- North America accounted for 71.9% of the company’s total sales in 2024, followed by Europe (18.4%), Asia (5.1%), Australia (0.9%), and South America (0.5%). The share of domestic sales (Poland) was 3.1%.
CD Projekt’s game sales and revenue
- In 2024, Cyberpunk 2077 and its Phantom Liberty expansion generated 588.8 million ($152.4 million) in revenue, down 31% year-over-year.
- 62% of Cyberpunk 2077 & Phantom Liberty sales came from PC, followed by PlayStation (26%) and Xbox (12%).
- The top 3 regions by revenue were North America (40.3%), Europe (30.7%), and Asia (22.3%). South America accounted for 3.3% of the total.
Cyberpunk 2077 & Phantom Liberty sales by platform
- Last year, The Witcher 3 (including its two expansions) brought in 163.4 million ($42.3 million) in revenue, up 3% year-over-year. The game continues to sell well across the globe, remaining one of CD Projekt’s main revenue drivers.
- 36.5% of The Witcher 3 sales came from Europe, followed by North America (28.9%), Asia (26.6%), and South America (5.4%).
- PC accounted for 43% of The Witcher 3 sales, followed by PlayStation (38%), Xbox (8%), and Nintendo Switch (11%). For comparison, PlayStation was the number one platform at launch (44%), but sales have shifted towards PC over the years.
- The chart below also shows how the industry has skewed towards digital sales over the last decade. In 2015, The Witcher 3 generated 51% of its sales from physical copies, with their share gradually decreasing over the years and reaching just 6% in 2024.
Sales of The Witcher 3 by distribution type: digital (red) and physical (grey) copies)
CD Projekt’s development pipeline
- In 2024, development expenditure increased by 32% to PLN 695.4 million ($180 million), with 274.3 million ($71 million) spent on new projects in development.
- As of February 28, 2025, CD Projekt had 707 developers involved in ongoing projects, compared to 650 as of the end of Q3 (October 31, 2024).
- 411 people are now working on The Witcher 4, which entered full-production in November 2024. The Project Orion (the next Cyberpunk game) team includes 84 devs, followed by Project Sirius (a Witcher spin-off developed by The Molasses Flood) with 49.
- Project Hadar (new IP) and The Witcher 1 remake, which is being developed by third-party studio Fool’s Theory, remain in the research phase.
- In the coming quarters, CD Projekt will continue to build its Boston team, which is working on Project Orion (currently in pre-production).
- In its 2024 report, the company also announced a strategic partnership with Monopoly GO! developer Scopely. It didn’t share any specific details other than the studio will develop a game based on one of CD Projekt’s IPs (The Witcher or Cyberpunk).