Remedy Entertainment and Annapurna Pictures have entered a strategic partnership, where Annapurna will be financing half the budget for Control 2, the upcoming video game. Annapurna Pictures is a movies and TV show production company with a diverse portfolio in movie production with films such as Zero Dark Thirty, Her, American Hustle, and Booksmart.
As per the agreement, Annapurna will finance 50% of the development budget for Control 2, and will receive the rights to adapt Control and Alan Wake into movies and shows. However, full IP rights for both Control and Alan Wake will remain with Remedy Entertainment.
“This agreement will ensure we can develop Control 2 into the best game possible, allow us to move into self-publishing for selected titles and expand our franchises to other mediums”, said Tero Virtala, CEO of Remedy Entertainment.
Remedy will receive a greater revenue share from the sales of Control 2 whereas Annapurna will get the larger bite of revenue made from potential Control and Alan Wake movies and shows in the future.
The deal will enable Remedy Entertainment to remain independent after Remedy acquired full rights to the Control franchise from publisher 505 Games back in February 2024.
Currently, Remedy Entertainment is actively working on Max Payne 1 and 2 remake, whereas Control 2 was said to be in the “production readiness stage”, during a recently released half-yearly financial report. Max Payne 1 and 2 remake was in the “production readiness stage” for 10 months before it entered full production. So, it is estimated that Control 2 might enter the full development stage by June 2025.
Published: Aug 30, 2024 03:11 am