RedDeer.Games with nearly 80% Revenue Growth in 2023

RedDeer.Games with nearly 80% Revenue Growth in 2023

 

RedDeer.Games sp. z o.o., a leading publisher and developer of indie games on Nintendo Switch and a company from the investment portfolio of the publicly traded Grupa PMPG Polskie Media (GPW: PGM), in a report addressed to its investors, disclosed estimated financial results for the year 2023. The company generated significant revenues from sales, experiencing an annual growth of almost 80%. In the past year, RedDeer.Games released 71 new games, with 50 available on the Nintendo Switch platform. This achievement positioned the studio among the top 5 global leaders in creating, porting, and publishing games on this platform.

"We are very pleased with the results achieved by our company in 2023. They are primarily the result of effective actions taken in the area of selling games through digital distribution via the Nintendo eShop platform. We managed to release a greater number of games, which were even better tailored to the profile of players and better met their expectations. However, we do not plan to rest on our laurels. By the end of this year, we aim to release approximately 50 new productions, including 30 original titles" says Bartłomiej Kossakowski, COO of RedDeer.Games.

By the end of 2023, the company recorded over 4 million downloads of its released games, and it forecasts this number to reach a total of 7 million downloads by the end of 2024. In 2023, it conducted an investment round with a valuation of 70 million PLN, which placed it at 34th position (up from 40th place) in the FORBES "TOP 50 Game Producers in Poland 2023" ranking.

To further its dynamic development, the studio is focusing on new recruitments, the development of premium own productions, and preparing for the production of AA-type games, requiring larger financial investments for their realization. Due to the higher quality of such games, RedDeer.Games will increase its sales potential and the possibility of selling at higher unit prices. One of such productions is "Zły – The Evil One," set in the literary world created by Leopold Tyrmand.

"'Zły – The Evil One' is currently our largest ongoing project. Ultimately, we aim to create an entire universe based on Leopold Tyrmand's novel, which will not only consist of the video game released by us but also many other exclusivity rights granted to the company. The project's development costs in the current phase are covered by RedDeer.Games' own funds, but within the next few months, we plan to enter the market with a specific proposal for financing and profit sharing from this project, as well as plans for further studio development" adds Bartłomiej Kossakowski.

RedDeer.Games is a company from the investment portfolio of Grupa PMPG Polskie Media, which invested in purchasing approximately 20% of the company's shares. This is an example of mixed investment: financial combined with media for equity, which involves providing companies with media coverage and services in exchange for equity. This month, Grupa PMPG Polskie Media completed a review of strategic options, the result of which will be the preparation, still in the first half of 2024, of a development strategy. It aims to build a diversified portfolio of digital goods, produced based on its own resources as well as acquired through both financial investments and aforementioned media-for-equity transactions.

(automatic translation) / gfx: Pixabay.com

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PMPG Polskie Media:

A holding company listed on the main market of the Warsaw Stock Exchange (GPW: PGM). It operates in the market of traditional and new media. The Group includes, among others: Agencja Wydawniczo-Reklamowa Wprost, publisher of the wprost.pl website, the e-weekly "Wprost," and "Magazyn Wprost Premium," as well as Orle Pióro, publisher of the dorzeczy.pl website, the weekly "Do Rzeczy," and the magazine "Historia Do Rzeczy." The company also actively invests in new startup projects.