CD Projekt RED still has secrets in the vault. The studio's CFO confirmed this week that two unannounced projects are sitting in development alongside everything we already know about, per Reuters. No names, no genres, no teaser trailer with moody strings over rain-soaked concept art. Just a finance executive telling investors, in so many words, that the pipeline runs deeper than the public slate.

If you've followed this studio for a while, that shouldn't surprise you. CDPR has always played its cards close. Remember how long Project Polaris existed as a codename before anyone said "The Witcher 4" out loud? Or Project Sirius, the Witcher-universe game over at The Molasses Flood, drifting in and out of public awareness for years? This is a company that announces things when it's good and ready and not a second sooner. Sometimes that bites them, like when Cyberpunk 2077's marketing got way out ahead of the actual game. Mostly it works.

So what do we actually know is in development right now? The Witcher 4, targeting 2028, and which, as I covered last month, won't be at Gamescom this year. Songs of the Past, the Witcher 3 expansion I previewed earlier this week, originally slated for 2026 and now slipped to 2027. The Cyberpunk sequel, codename Orion, presumably still years out. Two more projects on top of that stack is a lot of irons in the fire for a studio that spent the 2010s essentially making one game at a time.

Speculation time, and you should treat everything after this sentence accordingly. One of the two is almost certainly another Witcher-adjacent thing. The license prints money and Sapkowski's world is deep enough that you could set a whole game in Zerrikania or Ofier without ever touching the Continent proper. The other? My gut says something new. After Cyberpunk's rocky landing and long redemption arc, the studio has talked a lot about proving it can do more than one universe. A brand-new IP would be the logical flex.

There's a historical echo here I find genuinely charming. Squaresoft in the mid-90s ran on this exact rhythm: quiet pipelines, then a reveal bomb at a show that ended up defining a generation. Chrono Trigger landing out of nowhere, or the first time those FF VII screenshots circulated in magazines. Nobody saw either coming. Sometimes the most exciting announcements are the ones with zero information attached.

What the CFO's comment really tells us is about scale. You don't fund two secret projects plus a next-gen Witcher plus a Cyberpunk sequel unless the money people believe in the output. This is a studio that spent a decade financially dependent on The Witcher 3's long tail and then Cyberpunk's comeback. Diversifying the slate is the smart play, and frankly the overdue one.

Don't expect details soon, either. CDPR's reveal cadence runs on its own clock, and with The Witcher 4 targeting 2028, the marketing machine is going to be busy for years. My guess, and it's only a guess, is that we hear about one of these two projects properly sometime in late 2027. Maybe a CG teaser at a Game Awards-adjacent event. That's usually how it goes.

In the meantime, we wait on Songs of the Past, which is now a 2027 thing, and if my preview instincts are right, that expansion is going to remind everyone why this studio earned the benefit of the doubt in the first place. Two mystery games on top? I've been doing this long enough to know not to get excited over a CFO sentence. Excited anyway. That's the job.