Regardless of whether you are a fan of League of Legends, the impact of Arcane – the animated series inspired by the game’s world and characters – on the streaming landscape is undeniable, with its influence evident across various platforms.
Originally touted as the most expensive animated series ever produced, Arcane’s two-season run came with a staggering price tag of over $250 million, spanning both production and marketing costs. Is that really significant? That’s because it is. While this offering surpasses expectations, its value is undeniable, justifying the investment by Riot’s stakeholders.
As a direct consequence of Riot’s reported substantial outlay of company funds to produce the show, it is now facing an unforeseen expense overrun, according to a recent Bloomberg report. While rumors initially suggested multiple seasons were in development for Arcane, the reality is that the show’s second season may indeed be its last, largely due to rising production costs.
The financials surrounding the show are particularly staggering, considering Netflix reportedly paid Riot a whopping $3 million per episode, while parent company Tencent shelled out $3 million for broadcast rights in China alone? Informed of the fact, this discount is less than half the total price currently being offered.
The report also disclosed that despite having grand ambitions to transform into a media powerhouse with Arcane’s support, Riot lacked a solid strategy to recover the costs associated with the series prior to its release. A Riot Games representative has corroborated with Bloomberg, stating that Arcane was not a standalone success, but its impact extended beyond its own value. Additionally, they noted that the second season is poised to at least break even financially.
In a departure from typical productions of this kind, Arcane was uniquely backed, crafted, and brought to life by the renowned game developer and publisher Riot. To maximize profits, the studio required a comprehensive management of the intellectual property and manufacturing process, thus diverging from the more lucrative licensing model. Riot’s decision to put on hold other ongoing gaming projects and halt work on Arcane becomes more logical with this additional information.
While the raw numbers may suggest a significant impact, Arcane’s true influence is more nuanced: it failed to attract a substantial influx of new players to League of Legends, nor did it entice existing fans to invest more in the game. While part of the issue was due to the limited timeframe provided by the present’s creators for Riot designers to develop in-game skins and themed events (a challenge the studio addressed with the second season), another significant factor was the complex nature of the game itself, which deterred many new players who signed up following the first season’s explosive popularity.
It appears that the mysterious power of Arcana cannot be replicated or acquired by others, despite the awe-inspiring nature of the world of League of Legends.
