Arcane is one of the highest rated TV series of all time. But it wasn’t a financial success and didn’t bring new players to League of Legends.
When Riot Games released Arcane in 2021, it was celebrated as one of the best video game adaptations ever made. The Netflix animated series brought the world of League of Legends (LoL) to life in front of millions of viewers and fans who now love the stories that the show has told.
It’s one of the most successful video game adaptations. | Image Credit: Netflix
The show recently released and finished its second season which received equal if not better praise than the first. But despite its critical and commercial success, Arcane wasn’t financially profitable and it also didn’t improve the player count for League in any way.
Arcane‘s success didn’t lead to any financial profit
It was amazing, but cost a lot. | Image Credit: Netflix
Riot’s investment in Arcane was unprecedented, both in ambition and scale. According to a new report by Bloomberg, the company reportedly spent $250 million across two seasons, overseeing every detail to ensure quality. Unlike other gaming giants who license intellectual properties to Hollywood, Riot kept the reins, aiming to use the series as a direct funnel into its gaming ecosystem.
Despite this, the returns didn’t match the investment. Netflix and Tencent, who streamed the series in China, contributed only a combined $6 million per episode, but this covered less than half the production and marketing costs. Riot admitted that the series itself wasn’t profitable but claimed it added value to their broader brand.
The first season of Arcane captured global attention with its stunning visuals and compelling narrative. The show even won four Emmy Awards in 2022, solidifying its status as one of the best video game adaptations to date. Yet, this success did not translate into substantial growth for Riot’s flagship game.
Riot’s intention was clear: leverage Arcane’s success to draw new players into League of Legends and increase engagement among existing ones. However, several obstacles impeded this goal. For one, designers didn’t have enough time to develop in-game content tied to the first season, such as themed skins or items.
While new accounts surged briefly after the show’s release, many players quickly abandoned the notoriously challenging and often toxic MOBA environment. For the second season, Riot allowed more preparation time, introducing exclusive Arcane-themed skins and champions like Ambessa.
It’s a problem every video game adaptation faces.
It’s not just an Arcane thing. | Image Credit: Netflix
The challenges Riot faced are not unique. It has been a long struggle for video game companies to convert the success of cinematic adaptations into sustained in-game engagement. The Super Mario Bros. movie grossed over $1.4 billion in 2023, but it also didn’t have a big impact on Nintendo’s gaming ecosystem.
Arcane is the only show in IMDB history to have an entire season where every episode is rated 9+. pic.twitter.com/GUdJZIsyoe
— 🇵🇸 Genel Jumalon ✈️ Holiday Matsuri (@GenelJumalon) November 26, 2024
Despite these struggles, Arcane has left a lasting cultural footprint. The series won four Emmy Awards and solidified Riot’s reputation as a creative powerhouse capable of storytelling on par with the biggest names in entertainment. For fans, it deepened the League universe, giving beloved characters like Jinx, Vi, and Caitlyn rich backstories.
It also introduced a new audience to Riot’s intellectual property, even if that didn’t translate directly into game engagement. Still, Riot remains optimistic about its future. While Arcane has effectively ended, Riot did hint at more projects in the coming future.
The second season of Arcane is expected to break even financially, but Riot’s entertainment division remains unsure. For now, Riot’s focus has returned to bolstering its gaming portfolio, with new projects like Project K and 2XKO in development.
What do you think is next from Riot Games’ entertainment division? Let us know in the comments!
