The Witcher 4 budget could reach $800M, says analyst also expecting new Witcher 3 DLC in May

The Witcher 4 is one of the most anticipated games in development, thanks to the critical acclaim and commercial success of The Witcher 3. There is significant hype and expectation surrounding the sequel, and Noble Securities analyst Mateusz Chrzanowski (via Strefa Inwestorow) claims that the game’s budget could potentially reach $800 million. This is the same analyst who recently shared expectations for new The Witcher 3 DLC arriving in May 2026.

Discussing the budget for The Witcher 4, Chrzanowski claims that development alone will likely cost PLN 1.4 billion, which is roughly $388 million. However, the Polish analyst also suggests that an additional PLN 1.4 billion will likely be spent on marketing, bringing the total budget close to $800 million.

For The Witcher 3, Polish outlet Next Gazeta previously reported that CD Projekt RED’s development budget was PLN 120 million, so roughly $32 million. The studio also spent an additional $35 million on marketing, resulting in a total budget of approximately $80 million, which was reportedly recouped in just one day after selling 4 million copies.

In May 2025, it was reported that The Witcher 3 had earned $650 million in sales since its release in 2015. This success is why CD Projekt RED is able to invest hundreds of millions of dollars more into The Witcher 4. Even so, an $800 million budget is an enormous figure, though it still pales in comparison to the reported $1 billion-plus budget of GTA 6.

So far, all that has been shown of The Witcher 4 is a CG trailer confirming Ciri as the playable character instead of Geralt, along with a tech demo showcasing the visual fidelity of Unreal Engine 5 in 60 FPS on a base PS5. CD Projekt RED has pushed back against criticism of Ciri replacing Geralt, assuring fans that the game will remain faithful to the lore of the books by Polish author Andrzej Sapkowski.

Analyst predicts new The Witcher 3 DLC will kick off marketing for The Witcher 4

Mateusz Chrzanowski is also the analyst expecting new DLC for The Witcher 3 to release in May 2026. He shared these expectations in December 2025, stating that the DLC is likely to cost $30, and claiming that it “should kick off the actual marketing campaign for The Witcher 4”.

While neither the budget estimate nor the DLC has been officially confirmed, Chrzanowski is not the only source anticipating new The Witcher 3 content. The DLC is rumored to be developed by Fool’s Theory, an independent studio made up of former CD Projekt RED staff that is officially working on The Witcher remake announced in 2022.

There are also rumors that the DLC could take us to Zerrikania, a region surrounded by mountains and deserts and home to a matriarchal society of powerful warrior women and dragon-worshiping cults.

The last major expansion for The Witcher 3 was Blood and Wine, which launched in May 2016. If a new expansion releases in May 2026, it would arrive exactly ten years later. This would also be an appropriate time for CD Projekt RED to release the previously announced mod support for PS5 and Xbox Series X/S.

As for The Witcher 4’s release date, CD Projekt RED has confirmed that it will not launch in 2026. Chrzanowski expects the game to release in Q4 2027, meaning October, November, or December, though this window has not been officially announced by the developer.

Although little has been shown so far, The Witcher 4 is shaping up promisingly. Geralt’s voice actor stated back in 2018 that the next entry should focus on Ciri, and CD Projekt RED has also revealed that Baldur’s Gate 3 has been an inspiration for how NPCs interact with the world based on player choice.