11 bit studios has released its financial report relating to the first half of 2024. The Polish developer Expects strong results from Frostpunk 2 and The Alters launches and also shared some data on third-party games it has released in the past few months.
According to the report, 11 bit studios achieved PLN 30.76 million (approximately EUR 7.9 million) in revenue in the first half of 2024, up 24.1% from the previous year, driven by third-party games such as The Thaumaturge, Indika and The Invincible. However, first-party games, particularly Frostpunk and This War of Mine, accounted for 48% of revenue in the period under consideration.
Most of the sales were made in the United States (76% of the total), followed by the United Kingdom (11%), Japan (4.4%), Poland (2.9%) and the rest of the European Union ((2.6%). China stopped at 0.3%.
Excellent prospects
Operating costs have increased by 49.38% compared to the previous year, reaching PLN 36.1 million (approximately EUR 9.3 million). The largest expenses were royalties paid to third parties and marketing for Frostpunk 2 and The Alters. Overall, 11 bit studios recorded a net loss of PLN 477,800 (approximately EUR 123,000), compared to a profit of EUR 1 million last year.
Speaking of third-party games, The Thaumaturge grossed less than PLN 45 million (approximately €11.6 million), missing its target but still achieving a positive result. Fool’s Theory, the developer, reported net profits of PLN 19.3 million (approximately €5 million), of which PLN 5.25 million (approximately €1.35 million) will go to 11 bit studios.
Indika has fully recovered its development costs and is starting to generate profits. As mentioned, sales expectations for Frostpunk 2 and The Alters are sky-high, with the company expecting big numbers for both games.
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