Translation: Original published in Finnish on 9/28/2026 at 7:00 am EEST.

Remedy's Control Resonant rose to become one of the best-selling games on the PlayStation Store and the Steam platform over the weekend, and player feedback has been extremely positive. Steam's peak concurrent player count (approx. 41,000) is a strong performance, and in light of this, we estimate that the game's sales will develop roughly in line with our forecasts, even though visibility into this trend is still limited at this point. Control Resonant is shaping up to be Remedy's most successful game release to date, and we believe this high-quality game will generate solid revenue for the company for several years. We are keeping our estimates unchanged for now, but we are raising the target price of the share to EUR 23.0 (was EUR 21.0) on the back of reduced forecast risks following the successful release. Following the share price increase, we downgrade our recommendation to Accumulate (was Buy). 

Players rate the game even higher than critics do

By Sunday evening, Control Resonant had received 415 reviews from PlayStation 5 players on Metacritic. Players have given the game an average rating of 8.8/10 so far, which is an even better figure than the critic reviews. On the PlayStation Store, the game has received 3,600 reviews, resulting in an average score of 4.79/5. On the Steam platform, the game had accumulated over 4,000 reviews, with 87% of players viewing the game very positively. Of the English-language reviews (2,800), 89% are positive.

Steam data shows good sales for the game, but its potential to become a massive hit did not materialize

Since its release on Thursday, Control Resonant has averaged 30,000 to 40,000 concurrent players on the Steam platform during "peak hours" over the weekend. The current peak number of concurrent players (CCU) stands at 40,842. We think these numbers are good, but they won't materialize into the hit that always accompanies a new game release. Among September's peer games, The Blood of Dawnwalker reached a peak CCU of 78,188, while Onimusha reached 85,081. The former sold over a million copies in around 3 days from release, and the latter within the first 24 hours. However, it's worth noting that physical copies of these games were immediately available, whereas physical copies of Control Resonant will be available to players on October 15. Thus, support from physical copies will be reflected in Remedy's sales figures slightly later.

Consequently, support from physical copies will not be reflected in Remedy's sales figures until a little later. While precise visibility into sales development remains unclear, it would seem that our current sales estimates (2026e 1.9 million copies, 2027e 2.2 million copies) are still in the right ballpark. We estimate sales of 1.1 million copies for Q3, but at this point, it is difficult to say whether the game will manage to sell this amount by the end of September. More relevant, however, is whether the estimates for the full year and the coming years are met. Thanks to strong reviews from players and critics, the game is well-positioned to continue selling well into the future, and, at the same time, there is no need to slash the price too soon.

We're sticking with the stock and waiting for more detailed sales figures from Control Resonant

The successful release of Control Resonant strengthens the game brand and establishes an even stronger foundation for Remedy's future game sales. We believe Remedy's share valuation is still interesting when considering both the earnings growth from game releases in the coming years and the company's long-term potential. In the short term, however, the stock has risen significantly from its lows, while the potential for a blockbuster game related to Control Resonant has not materialized. Thus, we estimate that the short-term upside is more limited unless the game ultimately yields better sales figures than we expect. The Max Payne Remake, likely to be released in the next 12 months, is also a share driver.