Devolver Digital, the indie crippled steadfast known for its often quirky, offbeat titles, has conscionable released its yearly capitalist presentation. Spanning 31 slides, the study offers a broad overview of the company's 2024 results. Perhaps the astir attention-grabbing item is simply a ranked breakdown of Devolver's top-performing franchises by beingness gross — a uncommon look down the curtain that outsiders aren't ever privy to. The steadfast besides shared immoderate absorbing revelations astir however it plans to attack its concern strategy moving forward.
Devolver's Top-Selling Games by Lifetime Revenue
Devolver Digital has amassed a beardown portfolio of standout IPs, but the apical spot successful presumption of beingness gross goes to Cult of the Lamb — a third-party rubric that's go the publisher's astir palmy crippled to date. Trailing down are mostly first-party franchises, including Astroneer, Stronghold, Serious Sam, and Enter the Gungeon, successful that order.
>$90m |
>$80m |
>$50m |
>$45m |
>$40m |
>$35m |
>$30m |
>$20m |
>$20m |
>$20m |
It's worthy noting that Fall Guys would astir surely beryllium starring this database if Devolver inactive held its publishing rights. However, the institution sold those rights to Epic Games pursuing the game's breakout.
More Key Highlights from the FY2024 Investor Presentation

Source: Devolver Digital
Devolver Digital's latest capitalist presumption sheds airy connected however the indie publisher plans to determination guardant based connected caller show information and subordinate behaviour trends.
One of the much notable insights is Devolver's reflection that players are spending much clip with established IPs than with caller ones. In response, the institution is shifting its absorption toward gathering connected its existing franchises. It'll execute this with paid DLC, definitive editions, and sequels — each aimed astatine capitalizing connected the popularity and profitability of its astir palmy titles.

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Playing It Safe Comes astatine a Cost
While there's thing inherently incorrect with doubling down connected proven franchises, Devolver's strategy won't travel without consequences. To escaped up clip and resources for sequels, definitive editions, and paid DLC, the steadfast volition beryllium reducing its concern successful caller third-party titles.
That determination demands immoderate interest — particularly considering Cult of the Lamb, Devolver's best-selling crippled of each time, is simply a third-party release. By prioritizing safer bets, Devolver could extremity up passing connected the kinds of originative risks that primitively defined what it was each about. There's besides the interest that aboriginal releases whitethorn consciousness little "complete" astatine launch, leaving abstraction for monetizable follow-ups.
More troubling is the quality that, contempt a instrumentality to profitability and growth, Devolver is cutting the size of immoderate smaller subsidiary teams by astir 50%. That means talented developers are losing their jobs, adjacent arsenic the institution reports coagulated performance.
Unfortunately, this is 1 of the harsh realities of being a publicly traded company. Devolver present answers to shareholders, and that unit to summation profitability tin sometimes travel astatine the disbursal of innovation — and adjacent quality. Hopefully that's not the lawsuit here, but these realignments awesome a much cautious, firm absorption that's worthy keeping an oculus on.
Source: Devolver Digital

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