League of Legends animated series Arcane was a financial failure, but something else is important to Riot

Bloomberg, citing its sources, shared information about the success of the recently completed animated series “Arcane” based on League of Legends from the Riot Games studio.

Image Source: Netflix

Let’s remember that in November it was reported that Riot spent more than $250 million on the creation and advertising of 18 episodes of Arcane (nine in each of the two seasons), which made the project the most expensive animated series in history.

In an interview with Bloomberg, a studio spokesperson confirmed the amount and said Arcane was a success when “you look at all of our internal metrics” and the second season is “on track to become financially profitable for us.”

In the run-up to the premiere, Riot did not have a clear plan to recoup expenses spent on the show

According to Riot, the most important thing for it is to attract and retain players in the long term, but Arcane did not cope with this task: the show was unable to convert viewer interest into revenue growth for League of Legends.

The show raised questions even within Riot. Some employees felt that the company would be better off spending its money on League of Legends. Even Tencent (the owner of Riot) between seasons was interested in how Arcane was helping the studio’s gaming business.

The first season of Arcane was a commercial failure for Riot, despite high marks from critics

For the start of the second season, Riot has prepared in-game items based on Arcane: starting in November, users can purchase eight costumes for their favorite characters in the style of the show, costing from $10 to $14.