Both Seasons of ‘Arcane’ Cost $250M Overall to Make & That Makes It the Most Expensive Animated Series of All Time
Riot Games, the Los Angeles-based company behind the massively popular “League of Legends” video game, made a bold leap into entertainment with its animated series “Arcane.” The show, which launched on Netflix, became a global hit, topping charts in 85 countries and earning four Emmy Awards in 2022, including Best Animated Program. Yet, despite its success and an original plan for five seasons, the second season, set to release soon, will be the final one.
“Arcane” stands alone as Riot’s only TV or film project. About five years ago, the gaming giant aimed to break into scripted entertainment, hiring executives from major media companies to build a division for live-action and animated content based on its creations. Former CEO Nicolo Laurent had grand ambitions, once describing Riot as the “entertainment company of the 21st century” in an interview. But so far, little has come of those plans beyond “Arcane.”
The series didn’t come cheap. Sources estimate it cost $250 million for 18 episodes, making it the priciest animated show ever on a streaming or TV platform. The first nine episodes reportedly ran over $80 million, while the second season’s nine episodes neared $100 million. Insiders point to Riot’s inexperience in entertainment, saying delays from late scripts and a hands-on production process with Paris-based Fortiche studio drove up expenses. Promotion for the first season added another $60 million—far more than Netflix’s own marketing spend—though the second season’s costs are expected to be lower.
Marc Merrill, Riot’s co-founder and chief product officer, acknowledged the challenges. “Our entertainment goals remain the same,” he said. “We never planned to operate like a typical studio. But as we learned more, we realized getting it right takes a lot more time than we thought, so we adjusted our goals and teams accordingly.” On the hefty $250 million cost, Merrill didn’t confirm the figure but stated, “We’re comfortable with what we spent to create a show that’s worthy of our players’ time.”
The “Arcane” concept originated with Christian Linke and Alex Yee, two Riot employees from the player support team with no prior production background. In 2016, they pitched the idea and teamed up with Fortiche, a studio Riot had used for smaller projects like music videos. The result was a standout series, but Riot’s broader entertainment dreams have yet to take shape.
In gaming, Riot remains a titan. Since “League of Legends” launched in 2009 as a free-to-play online game, it has grown to 180 million monthly players worldwide, including spinoffs. Last year, the company pulled in roughly $3 billion, mostly from selling in-game “skins”—virtual items that keep players coming back. Riot has also expanded into esports and music, operating from a sprawling Santa Monica headquarters marked by its fist-shaped logo.
Laurent saw “Arcane”’s success as a springboard to grow Riot’s brand, much like its esports push, but the high costs and steep learning curve have slowed progress. For now, the company’s Hollywood ambitions rest on “Arcane,” a costly gamble that paid off in prestige but won’t extend beyond its upcoming finale.