Polish developers CD Projekt Red have surpassed Ubisoft to become Europe's most valuable video game company. Witcher creators' market value is now estimated at around €8.00 billion.
Earlier this year, we reported that the award-winning studio that brought us The Witcher trilogy, CD Projekt Red, have become the most valuable company in Poland , reaching PLN 26.9 billion in terms of market capitalisation.
Back then, only Ubisoft had a higher market value of all gaming companies in Europe but now, CD Projekt Red have managed to surpass the creators of Assassin's Creed series and become Europe's most valuable video game company.
CD Projekt Red's market value is now estimated at around PLN 36.5 billion (€8.00 billion) while Ubisoft is around PLN 35.6 billion (€7.82 billion) at the time of writing.
Back in April 2020, we predicted that it won't take long before CD Projekt Red dethrone Ubisoft from the top spot since Cyberpunk 2077 release date is just around the corner but it looks like Polish company managed to reach the top much quicker than anticipated.
And while CD Projekt Red's market value is now higher, their revenue of PLN 521 million is still way behind Ubisoft who generated PLN 1.89 billion in revenue in Q3 2019. Of course, Ubisoft's revenue is also generated from microtransactions, which is something that CD Projekt Red did not have in their major games so far.