Larian Studios, the developer of Baldur's Gate 3, achieved significant financial success in 2023, as revealed by newly published records from its Dublin-based holding company.
The studio reported a pre-tax profit of 249 million euros (approximately $260.9 million) and total revenue of 427 million euros, largely driven by the release of Baldur's Gate 3 in August.
See Also: Baldur’s Gate 3 Sees More Players In 2024 Than During Launch Year: Here’s Why
This marks a substantial turnaround from Larian's 2022 financial performance, which saw 22.7 million euros in revenue and a loss of 214,000 euros. The success of Baldur's Gate 3 has not only bolstered the studio's financial standing but also established the game as a major player in the RPG market.
Sales and Licensing Revenue
Although Larian did not disclose exact sales figures for the game, a report from the Irish Independent estimates it sold around 15 million copies by the end of 2023.
This aligns with earlier statements from publishing director Michael Douse, who noted sales exceeding 10 million. Additionally, Hasbro Inc (NASDAQ:HAS), the parent company of Dungeons & Dragons owner Wizards of the Coast, confirmed the game generated $90 million in licensing revenue.
The game's popularity continued into 2024, with Douse reporting a 20% increase in daily active users compared to the previous year, supported by ongoing interest in community-created mods.
Future Plans and Ownership
Larian CEO Swen Vincke pointed out the studio's strengthened position in a September interview with IGN, stating that Larian is now able to "pick our own destiny and our own path." Rather than developing DLC or a sequel for Baldur's Gate 3, the company plans to focus on new original projects.
Despite Vincke's majority ownership of Larian's ordinary shares, the Irish Independent reported that Chinese tech company Tencent Holdings ADR (OTC:TCEHY) holds a significant share of preference stock through its Tencent Cloud Europe division.
Global Development and Growth
Larian employed a "follow the sun" development approach for Baldur's Gate 3, utilizing its network of studios across cities such as Dublin, Ghent, Kuala Lumpur and Quebec to maintain round-the-clock production. This method, combined with the game's success, has elevated Larian's profile within the industry.
While Larian has a history of well-regarded titles, such as Divinity: Original Sin, the success of Baldur's Gate 3 represents a new level of commercial achievement for the studio.
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