When, on June 9, 2019, Hollywood star Keanu Reeves appeared on stage at the E3 expo in Los Angeles and revealed that he would be one of the main characters in Cyberpunk 2077, the world went wild for the Polish game and its creators - CD Projekt RED.
"You're breathtaking!"
"You’re breathtaking!" - shouted a conference attendee to the actor, famous for the Matrix trilogy and John Wick series. Media outlets worldwide, not just gaming-related ones, immediately began covering Reeves’ involvement in the Polish game. Within hours of the game’s release date being announced, Cyberpunk 2077 shot to the top of the Steam bestseller list.
Although CD Projekt had already earned gamers' admiration with titles like "The Witcher 3", which premiered in 2015, no one doubted that Cyberpunk would push the Warsaw studio into the global elite, alongside industry giants like Rockstar Games (creators of Grand Theft Auto).
Set in a futuristic and dystopian universe, the game promised not only stunning audiovisuals but also innovative gameplay features and what had always set CD Projekt apart: an outstanding storyline.
A year before the launch, Bloomberg included CD Projekt in its "50 Companies to Watch in 2020" list. Out of 2,000 companies globally, the Polish game developer was seen as poised for the fourth-largest sales growth (446.12 proc.) that year, according to analyst Matthew Kanterman. The hype surrounding "Cyberpunk 2077" kept growing as new trailers and bold declarations from the game’s creators were released.
By April 2020, CD Projekt became the most valuable company on the Warsaw Stock Exchange and, by May, the largest game developer in Europe, surpassing Ubisoft.
Cyberbug 2077
Initially, nothing signaled catastrophe. "Cyberpunk 2077" received strong critical acclaim on release day (89/100 on Metacritic). However, this rating only applied to the PC version. The console versions for PS4 and Xbox One were not sent to journalists before launch, and for good reason. When the console versions hit, players were greeted with a buggy, under-optimized mess, with frame rates dropping below 15 FPS and graphical glitches galore. The console versions scored a dismal 50/100 on Metacritic, with user ratings of 2.9/10 for PS4 and 4/10 for Xbox One. Gamers’ disappointment was clear.
CD Projekt’s stock plummeted, dropping 40 proc. in value in just a week. The company issued public apologies and refunds, but the damage was done. CD Projekt had lost the trust it had worked so hard to build.
Mea Maxima Culpa
In response, CD Projekt launched "the road to redemption" rolling out patches and updates to fix bugs, improve optimization, and add new content. Slowly, "Cyberpunk 2077" started resembling the game it was meant to be. The release of the Cyberpunk: Edgerunners anime on Netflix in September 2022 also reignited interest in the game, helping it earn back some goodwill.
Phantom Liberty
The release of the Phantom Liberty expansion in 2023, featuring actor Idris Elba, brought renewed praise, with a Metacritic score of 89/100. The game also won the Steam Awards 2022 in the "Labor of Love" category, further cementing CD Projekt’s comeback.
What’s Next?
After navigating these turbulent years, CD Projekt has ambitious plans for the future. Seven new games have been announced, including a new Witcher trilogy and a sequel to "Cyberpunk 2077". The company has regained some trust from investors, and its stock has risen significantly since early 2023.
While it’s still a long road back to its pre-Cyberpunk 2077 glory, CD Projekt is once again moving in the right direction. Whether they can maintain this momentum remains to be seen.
