Riot has raked in a massive $1.5 billion of revenue in 2019 from LoL. This comes as $100 million more than 2018’s 1.4 billion Riot collected. Despite these astronomical amounts, many continue to speculate of League of Legends downfall by comparing it to 2017’s $2.1 billion.
While the growth of League of Legends has certainly slowed down, the game is without a doubt maintaining slow growth despite strong competition.
© LoL Esports
While in the past Riot intended to reduce investment in esports due to pressure from parent company Tencent, they dramatically increased expenditure in 2019. This allowed for the creation of many new smaller leagues, leading to not only a more healthy competitive environment, but greater engagement for viewership.
Riot’s continued investment has payed off, with the 2019’s League of Legends World Championship average viewership up by 2 million compared to 2018, now at 21.8 million against 19.6 million. Likewise, the esports betting scene has also benefited, with the creation of new markets and greater reach worldwide.
Riot sets its sight ahead
In October of 2019 following their celebration of the company’s past decade, Riot unveiled a multitude of upcoming new games. These games would all be developed under Riot, spanning many different genres including an FPS, card game and finally, an official mobile League of Legends.
While League of Legends will likely continue to be Riot’s focus for the foreseeable future, they recognize LoL cannot be the sole driver of success forever.
These new games are set to launch sometime in 2020. The most hyped of which, being the mobile League of Legends game. While nothing is concrete, multiple rumours and leaks have referred the game’s launch around late January. The mobile market is forever expanding, with mobile LoL and TFT set to make an entrance, Riot is bound for success.
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