The CD Projekt Group - the company that encompasses CD Projekt Red and GOG - has surpassed Ubisoft to become Europe's most valuable videogame company. Yesterday, according to Gameplay Mechanix, CDP's market value reached 36.5 billion Polish Zloty (£7.174 billion), edging out ahead of the French company's current valuation of 35.6 billion Zloty (£6.988 billion).
That's an impressive feather in CDPR's cap, but it does come with some major caveats. For one thing, this figure is just the company's market valuation, suggesting that CDPR is merely perceived to be worth more than Ubisoft. For another, Ubi's actual revenues are far higher than the polish company's: the CD Projekt Group made around £100 million in revenue in 2019, while Ubi netted several times that in the final quarter of last year alone.
There are reasons behind that too, of course. Ubisoft published several games last year, all of which will have contributed to those numbers, and also makes and maintains many service titles which will provide ongoing revenue. CDPR hasn't made a game in five years, and while the revenue from GOG is clearly enough to keep it ticking over, it can't hope to compete in terms of cold, hard cash. Nevertheless, it's interesting to see the power that Cyberpunk 2077 is clearly already wielding - Ubisoft has five big games already on its slate, compared to just one from CD Projekt, but that lone title has been enough to make CD Projekt Poland's biggest company. Let's just hope the financial hype train didn't leave the station too early.