League of Legends

Arcane's second season landed on Netflix in November 2024 to some of the best reviews of any animated series that year, turning what could have been a licensed-game cash-in into one of the most acclaimed pieces of television period — a rare case of video game IP outperforming its source material critically. That success came even as Riot absorbed significant layoffs in 2024 and continued pouring resources into 2XKO, its long-gestating fighting game, while League itself remains the base esports and revenue engine, still headlined every year by a Worlds tournament that out-draws most traditional sports broadcasts.

We think Arcane is the real story here, not League's gameplay evolution: Riot essentially proved that a mature, cinematic adaptation can make a mechanically unchanged MOBA feel culturally relevant again to people who've never touched a keyboard-and-mouse game. That's a harder trick to pull off than most studios admit, and it's why League's player base has stayed remarkably durable while competitors chase live-service trends that burn out in a year.

The thing to watch is whether Riot can replicate the Arcane effect with 2XKO or any future League-adjacent media without diluting the brand — and whether Faker's continued dominance keeps giving Worlds a built-in storyline the way it has for the better part of a decade.