Report: CD Projekt Red Founders Lose $1 Billion Due to Buggy Cyberpunk 2077 Release

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Polish game makers CD Projekt Red’s reputation is in tatters and the company founders have lost more than $1 billion in wealth due to the buggy release of their latest title, Cyberpunk 2077 according to Bloomberg. The well-respected studio known for making the hugely successful The Witcher 3: Wild Hunt now faces a huge task to win gaming fans back.

Within the past six days, the company’s shares have gone down by a third due to the numerous technical glitches plaguing Cyberpunk 2077 since it was released. The Polish studio said its developers would get paid bonuses regardless of the game’s critical reception but all is not looking well at the moment. The game has performed poorly on the PS4 and Xbox One promoting the developers to issue a statement apologizing to buyers and also stating those not satisfied with their purchase will get a refund. According to a report by TheVerge, getting a refund is not straightforward and may not be possible at the moment.

There is now huge scar on the reputation of both the studio and its management,” says analyst Tomasz Rodak, in an email obtained by Bloomberg. “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.”

The widespread criticism from the release of the studio’s latest title could have a long-lasting effect according to analysts. CD Projekt Red promised to release two major patches with the first in January 2021 and the in February which they believe will fix the “most prominent problems” faced by gamers on the PS4 and Xbox One. Analysts believe the timing of fixing the bugs on last-gen consoles will be pivotal to the studio’s revenue which depends on new titles. The game has performed well on PC so far with the major glitches and bugs affecting the PS4 and Xbox One.

Cyberpunk 2077 was forecasted to sell 30 million copies in 12 months but that has now fallen to 25.6 million copies based on nine refresh estimates gathered by Bloomberg.

Posted by Biodun

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