The animated series "Arcane," based on League of Legends, was well-received by critics and viewers but did not pay off for Riot Games. Bloomberg reports this, citing sources.
League of Legends
- According to Bloomberg, the budget for "Arcane" was $250 million.
- It is reported that for each of the series’ 18 episodes, Netflix paid Riot Games $3 million. Tencent also transferred $3 million to them for the rights to broadcast "Arcane" in China. These payments were insufficient to cover the costs.
- Bloomberg sources claim that Riot Games did not originally have a solid plan for recouping the expenses.
- Riot Games representatives confirmed to Bloomberg that the company did not profit from the series. However, they stated that it still led to revenue growth and improvements in several other metrics. Riot Games hopes that while the second season may not be profitable, it at least won’t incur significant losses.
- “For us, the most important thing is the long-term engagement and retention of players. Riot Games has always focused on creating projects that players want to enjoy for years, and 'Arcane' is part of this strategy,” stated Riot Games.
- Meanwhile, Bloomberg sources say that "Arcane" did not significantly boost League of Legends' audience. After its premiere, many new users began registering to play the game, but most stopped playing shortly thereafter. Bloomberg indicated that the high complexity of League of Legends for newcomers might be the reason.
In a Reddit discussion, Riot Games co-founder Marc Merrill criticized the Bloomberg article. He asserted that people who view the world through the lens of short-term, transactional, and cynical interests cannot comprehend the company's motives.
“They think we make things like 'Arcane' to sell skins, but in reality, we sell skins to make things like 'Arcane',” Merrill said.