Cyberpunk 2077 launch fiasco has cost CD Projekt founders $1 billion
Top execs at CD Projekt have lost a literal fortune thanks to the disastrous launch of Cyberpunk 2077 and the company’s plummeting share price.
The launch of Cyberpunk 2077 may have angered console gamers across the world but the fallout has had a direct effect on the founders of publisher and developer CD Projekt, many of who still work at the company in top jobs.
According to Bloomberg more than $1 billion (£740 million) has been wiped off the wealth of the company’s founders since the launch of Cyberpunk 2077, as the share price of the company dropped by a third.
Short sellers, who profit if the value of a company falls, have seen interest in CD Projekt increase from less than 1% before launch to 8.3% on Monday.
‘There is now a huge scar on the reputation of both the studio and its management,’ said BOS Bank SA analyst Tomasz Rodak. ‘In only a couple of days, CD Projekt fell from the most adored studio to the most hated one. Restoring trust is not impossible, but would need much time and effort.’
Forecasts for game sales over the next 12 months have now fallen from nearly 30 million to 25.6 million, according to an average of nine estimates collated by Bloomberg.
The founders hosted an emergency investors meeting earlier in the week, in which they emphasised the importance of rebuilding trust with gamers, the sad fact being that before the launch of Cyberpunk 2077 they were one of the most respected developers in the world thanks to the success and post-launch support of The Witcher 3.
The decision to launch Cyberpunk 2077 in its initial state, and to purposefully withhold evidence of how it ran on base Xbox One and PlayStation 4 consoles, has cost them dearly, both figurately and literally.
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