Cyberpunk 2077 Refunds - MUCH Higher Than Initial Reports (VL452)

The release of Cyberpunk 2077 by CD Projekt Red (and its parent company CD Projekt) has been the kind of slow moving car accident that many cannot look away from.

So when the company announced that despite all the controversy only 30,000 gamers had asked for refunds through it's "Help Me Refund" Program, curious minds might wonder if that's the whole story.

But while many outlets reported things like "CD Projekt Refunded Only 30,000 Copies Of Cyberpunk 2077" (Kotaku), the financial statements actually delivered gave a much different picture.

Technically correct may be the best kind of correct, but it's not the most informative...in Virtual Legality.

CHECK OUT THE VIDEO AT: https://youtu.be/ck2i_113Y3k

#Cyberpunk2077 #CDPR #Refunds

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Discussed in this episode:

"CD Projekt, CDPR, and Cyberpunk 2077: We Have a Reputation to Burn"
YouTube Playlist - Hoeg Law
https://www.youtube.com/playlist?list=PL1zDCgJzZUy8QxfJHOJGH8UsiYOqjwhq3

"CD Projekt refunded around 30,000 Cyberpunk 2077 copies"
GIBiz - April 22, 2021
https://www.gamesindustry.biz/articles/2021-04-22-cd-projekt-refunded-around-30-000-cyberpunk-2077-copies

"CD Projekt Refunded Only 30,000 Copies Of Cyberpunk 2077"
Kotaku - April 22, 2021
https://kotaku.com/cd-projekt-refunded-only-30-000-copies-of-cyberpunk-207-1846743043

"CD Projekt refunded 30K copies of Cyberpunk 2077 out of 13M"
Polygon - April 22, 2021
https://www.polygon.com/2021/4/22/22398340/cd-projekt-red-april-2021-investors-call-refund-details-costs

"CDPR Issued Some 30,000 Refunds for Cyberpunk 2077"
IGN - April 22, 2021
https://www.ign.com/articles/cdpr-issued-some-30000-refunds-for-cyberpunk-2077

"... we know how much CDProjekt spent on the refunds..."
Tweet - April 22, 2021 - Mike Futter
https://twitter.com/Futterish/status/1385279644979671048

"Dear Gamers"
Tweet - December 14, 2020 - Cyberpunk 2077
https://twitter.com/CyberpunkGame/status/1338390123373801472

"Doesn't really tell the whole story..."
Tweet - April 22, 2021 - Hoeg Law
https://twitter.com/HoegLaw/status/1385301568610766849

2020 Consolidated Financial Statements (CD Projekt)
https://www.cdprojekt.com/en/wp-content/uploads-en/2021/04/consolidated-financial-statement-of-the-cd-projekt-group-for-2020.pdf

"Cyberpunk 2077 refunds barely dented CD Projekt Red’s bottom line"
Ars Technica - April 22, 2021
https://arstechnica.com/gaming/2021/04/cyberpunk-2077-refunds-barely-dented-cd-projekt-reds-bottom-line/

"CD Projekt made over £215m profit in 2020 - despite Cyberpunk 2077 refunds costing tens of millions"
Eurogamer - Updated April 23, 2021
https://www.eurogamer.net/articles/2021-04-23-cd-projekt-made-over-gbp215m-profit-in-2020-despite-cyberpunk-2077-refunds-costing-tens-of-millions

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"Virtual Legality" is a continuing series discussing the law, video games, software, and everything digital, hosted by Richard Hoeg, of the Hoeg Law Business Law Firm (Hoeg Law).

CHECK OUT THE REST OF VIRTUAL LEGALITY HERE:
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DISCUSSION IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND IS NOT TO BE CONSTRUED AS LEGAL ADVICE. INDIVIDUALS INTERESTED IN THE LEGAL TOPICS DISCUSSED IN THIS VIDEO SHOULD CONSULT WITH THEIR OWN COUNSEL.

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Twitter: @hoeglaw
Web: hoeglaw.com