It didn’t draw in the gaming revenue because people are already wise to it being the most toxic game on the planet. When a game can be won or lost by a single teammate, people get upset; and being behind a screen gets them extra vocal.
Arcane
The community for Arcane, an animated series created by Riot Games portraying the origins of two iconic League champions, set in the utopian Piltover and the oppressed underground of Zaun.
A lot of people watching the show are also just non-gamers. This illustrates more about the dynamics of streaming services vs their own subscription-based (and not viewing-based) pricing. The ideal case for a streaming service is same as that of a gym - people paying the monthly fee and then not using it at all. If a streaming service has a hit show, it means more streams and higher hosting costs. It only translated into more money if it causes more people to actually subscribe than would otherwise have done so, and for subscription-based services that decision usually isn't based on one show. Netflix probably still has the most data on this sort of thing and even for them, tracking the "why" of any subscription or cancellation decision is difficult at best.
I absolutely loved the time I spent on League, I played from beta until mid-season 8 or so. There's no way in hell I'd start playing again, not just for your reasons but I just don't have the time to try to catch up on all the released champions and changes.
It's an absolutely beautiful work of art worth every penny spent on it.
But if they can't simultaneously make it at least kinda break even, we'll miss out on future works like it ):