Larian Studios' revenue skyrocketed by 1,780% in 2023, with whopping profit of €249 million

Larian Studios has recently filed accounts for its Irish office in Dublin. The report sheds light on the company’s financial success following the 1.0 launch of Baldur’s Gate 3.

Baldur’s Gate 3

• As reported by The Irish Independent, Larian Group Holdings posted a revenue of €427 million for 2023 — up 1,781% year-over-year (a 18.8x increase).
• The company’s profit before tax reached €249 million, compared to a €214k loss in 2022.
• This success was driven by Baldur’s Gate 3, which laucnhed globally in August 2023. According to the newspaper, the game has already sold around 15 million units, but it is unclear whether this figure was presented in the financial report or is just an estimate.
• Larian itself hasn’t dislcosed the sales of Baldur’s Gate 3, with the studio’s director of publishing Michael Douse saying that the game reached “went from ~2 [million] players to way over 10 [million] in a very short space of time.”
• In 2023, Larian Group Holdings paid €28 million in dividend to employees and shareholders last year. It is worth noting that the BG3 maker is a private company, but it still has investors such as Tencent, which holds a 30% stake.

Although Larian self-published Baldur’s Gate 3, it has to pay licensing fees to Hasbro, which owns the rights to the Dungeon & Dragons IP through its subsidiary Wizards of the Coast. In 2023, the game brought in $90 million in royalties for Hasbro, and the company expects another $30 million this year.

Last week, Douse noted that Baldur’s Gate 3 continues to perform well even more than a year after its 1.0 launch. In 2024, its average daily peak CCU grew 3% year-over-year, while average DAU increased 20%.