Treatment has issued its financial document for the third quarter (July to September 2024) and has reported a significant increase in revenue compared to the closing time of similar duration.
the numbers
- Earnings: 17.9 million euros (+129%)
- Job loss: 2.4 million euros (compared to a current shortfall of 5.5 million euros at the same time at the end of the quarter)
The highlights
Treatment noted that this revenue position was boosted through its deal with Annapurna unveiled in October, which will see the former fund 50% of Keep Watch 2 through a one-time fee.
Annapurna secured full licensing rights to Keep A Eye On and Alan Wake across film, television and alternative media as part of the deal. The treatment will maintain all intellectual property rights of each franchise.
In September, the studio took out a €15 million mortgage from Tencent to help develop its video games and self-publishing efforts.
Its income also increased thanks to the construction costs of Max Payne 1 and a pair of remakes, which are being advanced through Treatment and financed through Rockstar.
Meanwhile, Treatment saw a small reduction in royalties coming from sustained sales of Keep Watch and previous Alan Wake titles.
As reported last quarter, Alan Wake 2 has recouped most of its construction and advertising expenses, but has yet to generate royalties.
Elsewhere, Treatment said its games in development are progressing “as planned,” and Keep Watch 2 is on track to begin full production in 2025. Max Payne 1 and a pair of remakes are still in full production.
Last week it announced its original FBC name: Firebreak, formerly known as codename Condor. The multiplayer spinoff Keep Watch is scheduled to be released in 2025 and will be self-published.
