Paradox shares 2022 plan following disappointing 2021 financial results

"Our overall focus has been on finding the way back to our core business"

Paradox Interactive has published its 2021 financial report revealing that its revenues have dropped by 19 per cent.

Following the release of the year-end report, which also confirmed that its Q4 2021 revenues were also down 10 per cent, Paradox CEO Fredrik Wester described 2021 as a “challenging year” and laid out its plan to make this year more successful (thanks, GameWatcher).

“2021 has been a challenging year for Paradox. Too few content releases, too low quality on some of our releases and several discontinued projects leaves us with a full-year result that we are far from satisfied with,” Wester said. “Our revenues and our profit before tax decrease compared to 2020, this is a trend-break that shall not continue.”

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Wester continued, saying, “Our overall focus has been on finding the way back to our core business. We have placed a special emphasis on increasing our content velocity and the quality of all content we release.

“Organisationally, this has meant that we have clarified areas of responsibility and goals for all parts of the company in order to strengthen game development.”

Crusader Kings 3 Royal Court
Crusader Kings 3. Credit: Paradox Interactive.

On the topic of games, Wester explained that for future in-house developed games, Paradox has made sure that decisions have been made to help identify problems earlier, increase quality, and “become more agile.”

“For externally developed games, we have reworked how we, going forward, invest in projects that are outside our core segments and how we collaborate with third-party developers,” he continued. “The investments will be monetarily smaller and managed by a dedicated team working outside the regular development organization.”

Last week (February 17), Paradox released an external report into its own work culture following issues of harassment that were raised last year in a staff survey. The report was compiled by Gender Balance, which found that the cultural issues within the company correlated with the claims.

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In other news, Sony has unveiled the first look at the PSVR2 headset.

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