Cult Of The Lamb & Its DLCs Contribute To Over $90 Million Lifetime Revenue For Its Publisher

Devolver Digital, a renowned video game publisher known for titles like Hotline Miami, Cult of the Lamb, and The Talos Principle, has shared the financial performance of some of its titles, which shows that Cult of the Lamb, along with its DLCs, has contributed to over $90 million in lifetime revenue. 

In the FY24 Investor Presentation (via PC gamer and first spotted by analyst mauronl on Bluesky), Massive Monster's action roguelike, released in 2022 and receiving continuous post-launch support with four DLCs released from 2022 to 2024 as well as numerous free updates, topped the portfolio. 

Specifically, Pilgrim Pack, the game's fourth DLC update, which was launched in August 2024 and brought in a new interactive digital comic, generated a 280% increase in revenue in that month.

Besides Cult of the Lamb, sandbox adventure game Astroneer, which became a first-party franchise with its developer System Era Softworks being acquired by the publisher in November 2023, also got expanded with its first-ever paid DLC, Glitchwalkers, released in 2024. It has contributed to over $80 million in lifetime revenue. The paid DLCs released for both games have helped the company's total back catalogue sales up 20% YoY. 

Following Cult of the Lamb and Astroneer is Stronghold, whose developer, Firefly Studios, was acquired in 2021. The franchise has brought in more than $50 million in lifetime revenue. 

The observation is that "gamers are spending more time on known IPs as opposed to new IPs." Therefore, the company has decided to "lean further into our own popular IPs in a variety of ways."