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Alan Wake 2 may now be in "full production", according to Remedy's latest investor report

Alan Wake
(Image credit: Remedy)

Rumor has it that Alan Wake 2 has moved into "full production".

While it's chiefly all speculation and a healthy dollop of fan excitement right now, Remedy Entertainment's latest investor report (opens in new tab) has teased that both games included in its two-project publishing deal with Epic Games are progressing well, with its "AAA game project" – widely thought to be that highly-anticipated Alan Wake sequel – moving into full production, while its second "smaller-scale game" remains in "full production mode", too.

It also reminded us that Remedy signed a co-publishing and development agreement with 505 Games for a "multiplayer spin-off game of the award-winning Control (opens in new tab)", plus "collaboration terms for a future, bigger-budget Control-game were also agreed," the report says, albeit not specifically clarified.

"I am happy with the progress we have made so far in 2021," Remedy CEO Tero Virtala said. "Our financial position is stronger than before. Control continues to reach new players, expands into new games, and is a strong proof of our ability to create category-defining games and brands. Our multi-project model is continuously developing and we are approaching a phase where we can launch new games more often and more regularly. We are on track to reach our ambitious long-term growth objectives."

Reports that Alan Wake 2 was reportedly planned for development at Control studio Remedy Entertainment (opens in new tab) first began to circulate back in April when reporter Jeff Grubb told viewers that "I've heard that Remedy is going to be making Alan Wake 2," with Epic Games acting as the project's publisher. 

It also ties in with Remedy obtained the publishing rights to the franchise from Microsoft in 2019, but at the time, the studio was busy with Control, which – coincidentally enough (or not as the case may be) – featured an Alan Wake-related expansion (opens in new tab).

Remedy has also confirmed that it's working on a new game set in the same universe as both Control and Alan Wake (opens in new tab), too, which may be an entirely new IP. With so much still up in the air and the subject of so much speculation, here's hoping Remedy confirms one way or the other soon, eh? 

Here are all the new games of 2021 (opens in new tab) (and beyond).

Vikki Blake
Weekend Reporter, GamesRadar+

Vikki Blake is GamesRadar+'s Weekend Reporter. Vikki works tirelessly to ensure that you have something to read on the days of the week beginning with 'S', and can also be found contributing to outlets including the BBC, Eurogamer, and GameIndustry.biz. Vikki also runs a weekly games column at NME, and can be frequently found talking about Destiny 2 and Silent Hill on Twitter.