CD PROJEKT S.A. is a Polish video game group headquartered in Warsaw. Listed on the Warsaw Stock Exchange, the company is particularly known for its CD PROJEKT RED studio, which specializes in role-playing games with a strong narrative focus. Its productions combine exploration, character progression and choices that can influence the story. They target an international audience on PC and consoles, with a business model primarily based on sales of games and expansions.
From distribution to in-house creations
Founded in 1994 by Marcin Iwiński and Michał Kiciński, CD PROJEKT began by distributing video games in Poland. The company developed expertise in localizing them at a time when the Polish market was taking shape. The creation of CD PROJEKT RED in 2002 marked its transition to production. Released in 2007, the first The Witcher adapted the literary universe of Polish writer Andrzej Sapkowski and laid the foundations for its flagship franchise.
The Witcher 3: Wild Hunt, released in 2015, significantly broadened its audience. The title and its expansions established the studio as a recognized player in open-world role-playing games. In parallel, CD PROJEKT contributed to the growth of digital distribution through GOG, a platform launched in 2008 and associated with selling games without digital rights management systems, known as DRM.
Franchises and storytelling expertise
Its creative activity is built around ambitious projects that bring together artistic, technical and editorial teams over several years. The fantasy stories of The Witcher are joined by Cyberpunk 2077, released in 2020 and based on the universe of the role-playing game created by Mike Pondsmith. Its launch, marred by technical problems, particularly on older consoles, highlighted the production and reputational risks associated with these projects.
Bug fixes, updates and the Phantom Liberty expansion, released in 2023, subsequently supported the game’s revival. The group also develops its universes beyond their main titles, notably through audiovisual collaborations such as the animated series Cyberpunk: Edgerunners. This approach maintains the franchises’ visibility between major releases, without eliminating their economic dependence on the game release schedule.
What next?
CD PROJEKT’s announced roadmap includes new The Witcher and Cyberpunk projects, as well as the development of an original universe called Hadar. The use of Unreal Engine 5 for the new generation of The Witcher games represents a significant technical shift from the proprietary REDengine previously used.
The challenge will be to manage several productions while keeping their scope, quality and timelines under control. For this group, whose creative cycles are long, the ability to organize teams and ensure reliable launches matters as much as the strength of its franchises. Its upcoming games will therefore need to turn an acclaimed catalog into a sustainable business, without repeating the difficulties encountered during the launch of Cyberpunk 2077.