Why Riot Games is scaling back its dream of becoming ‘the next Disney’

After spending years trying to transcend its origins and become an entertainment giant, Riot Games is scaling back its ambitions this year, with a focus on its core gaming products.

Initially, at least, the mindset was encouraged by scale: Riot Games’ user base expanded considerably in 2020, boosted by a COVID-19-fueled rise in worldwide gaming activity, as well as the release of the popular first-person shooter title “Valorant,” Riot’s second major esport after the fan-favorite “League of Legends.”

Brimming with confidence from this growth, Riot’s leaders embarked on a mission to transform it from a gaming company into a Disney-esque culture and entertainment giant, using Riot intellectual properties as a launchpad. But gaming activity returned to earth by the end of 2022, with global gaming revenue shrinking by nearly $10 billion year-over-year, according to Newzoo’s annual report for the year. As a result, these dreams faltered, making it imperative for Riot to refocus on game publishing to achieve its long-term goals as a company.

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