Arcane was a financial failure

"Arcane" is widely considered to be one of the best adaptations of a video game to the screen, taking inspiration from the universe and characters of "League of Legends". The animated series, created in collaboration between Riot Games, Netflix, and Fortiche Production, debuted in 2021 and captivated fans from the get-go. However, the long lapse until the premiere of the second season, scheduled for 2024, seems to have been the prelude to a difficult decision: Riot Games has chosen to leave "Arcane" behind and refocus its efforts on video game development.

According to a Bloomberg report, Riot Games would have allocated a staggering $250 million to the two seasons of "Arcane." Despite its critical success and the strong fanbase it achieved, the series did not generate profits for the company, although it could break even in financial terms. This scenario, added to the high production and marketing costs, motivated Riot Games to rethink its strategy and prioritize more profitable projects.

Riot Games' initial goal with Arcane was to turn viewers into players of "League of Legends," which, although free, generates significant revenue from the sale of skins and cosmetic items. However, this plan failed to take hold: new players, motivated by the series, quickly abandoned the game due to its complexity and the well-known toxicity of its community. Despite efforts to release Arcane-themed items and skins into the game with the arrival of Act II, these were not enough to retain players.

Riot Games' decision to end "Arcane" isn't entirely surprising, considering its history of canceling unprofitable projects, as happened with "Legends of Runeterra." In addition, the company's employees pointed to internal concerns about devoting so much time, effort, and resources to an initiative that is not at its core: video games.

The impact of this decision also affects other projects related to television shows and movies based on the "League of Legends" universe, which are now on pause. Meanwhile, Riot Games is redirecting its efforts towards new projects, such as the rumored "2XKO" and "Project K", in addition to other possible spin-offs, including an alleged Destiny-style shooter. These initiatives seek to maintain fans' interest in the story and world of "League of Legends."

Source: Bloomberg