Pixel P&L: Arc Raiders’ Rises, Female Esports Declines

Welcome to another Pixel P&L edition. This issue takes 5 minutes to read. If you only have one, here are the 5 most important things:

• Arc Raiders has sold over 12 million copies generating $350M+ in revenue.

• Female esports viewership dropped 7.9% in 2025 despite rising prize pools.

• Embark Studios CEO defends AI use, says it's about eliminating tedious work, not replacing people.

• Hollow Knight Silksong wins 2025 Steam Game of the Year in awards with 43.8M votes.

• Steam Deck now represents 21% of all Linux gamers on Steam.

Let's get into it.

Arc Raiders Surpasses 12 Million Copies Sold

Arc Raiders has sold more than 12 million copies since its October 30 launch, generating over $350 million in revenue, according to Rhys Elliot from Alinea Analytics. The extraction shooter from Embark Studios set a daily active user record of 3.2 million players on January 4.

Steam accounts for 53.5% of total sales across PC, PlayStation 5, and Xbox Series X/S platforms, with PlayStation 5 at 25.5% and Xbox at 21%. The $40 game reached 4 million copies within its first two weeks.

Daily sales had stabilized in early December before a 20% holiday discount reversed the trend, Elliot reported. The game peaked at 466,372 concurrent players on Steam this week, just 3% below its all-time high of 481,966 players.

Embark Studios hasn't officially confirmed the sales figure. The company, co-founded by former DICE executives including ex-CEO Patrick Söderlund, previously reported 4 million copies sold within two weeks of launch.

Female Esports Viewership Declines Despite Prize Pool Growth

Female esports viewership fell 7.9% in 2025 despite rising prize pools, according to Esports Charts' annual report. VALORANT maintained its lead with 45.6% of total viewership, while Mobile Legends: Bang Bang surged to 40.6%, with both titles commanding over 90% of the market.

Tournament frequency plummeted 52% year-over-year, though average concurrent viewership increased. The VALORANT Game Changers Championship generated $1.88 million in media value, while the EWC x MLBB Women's Invitational drew 496,995 peak viewers.

Brazilian teams dominated popularity rankings, with Imperial Valkyries recording 2.32 million hours watched. Team Liquid Brazil captured Brazil's first international women's title by defeating two-time champions Shopify Rebellion Gold.

The Middle East and North Africa led prize pool distribution at 20% of $3.3 million total, driven by Saudi Arabia's Esports World Cup investment. Counter-Strike maintained 6.3% viewership share despite ESL Impact Series closure.

The sector recorded 19.95 million total hours watched across 100-plus tournaments.

⚡️Quick Bytes

MOONTON, realme Launch Media Programs at MLBB M7 Championship

MOONTON Games and realme introduced two media-focused initiatives for Mobile Legends: Bang Bang's M7 World Championship in Indonesia (January 3-25, 2026). The MLBB Media Championship features eight media teams competing during knockout stages, while M7 Awards for Best Media recognizes journalism across three categories: Trendspotter, Best in Esports Business Journalism, and Outstanding Feature. Adrian Cher, MOONTON's Global Head of Partnerships, said the programs highlight the media's role connecting with the game's community. 

Hollow Knight Silksong Wins 2025 Steam Game of the Year

Valve's 2025 Steam Awards drew 43.8 million votes, with Hollow Knight Silksong claiming Game of the Year and Best Game You Suck At honors. Clair Obscur: Expedition 33, fresh from record-setting Game Awards wins, captured Best Soundtrack. The Midnight Walk took VR Game of the Year, while Hades 2 won Best Game on Steam Deck. Baldur's Gate 3 earned Labor of Love recognition for continued developer support since its 2023 launch. Silent Hill F received Outstanding Visual Style.

Embark Studios CEO Defends AI Use, Emphasizes Human Workforce

Embark Studios founder Patrick Söderlund told GamesBeat the Swedish developer uses AI to eliminate tedious work, not replace employees. The company maintains voice actor contracts while deploying AI for faster game updates. Söderlund credited AI and "smart investment in tools" for enabling weekly updates to free-to-play shooter The Finals since launch. "This is a people industry," he said. Parent company Nexon called October's Arc Raiders launch its "most successful global" debut.

⚔️Side Quest

🤣Laugh:

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💡Did You Know

Valve's Steam Deck now represents over 21% of all Linux gamers on Steam, marking the handheld as Linux gaming's biggest success story. According to Valve's January 2026 Hardware Survey, Linux accounts for 3.19% of Steam users, with the Deck's AMD Custom GPU appearing in 21.4% of Linux systems. While alternative operating systems like Bazzite are growing (now at 6.60% market share), the Steam Deck remains the flagship device driving Linux adoption in gaming. This success has finally achieved what Valve's 2015 Steam Machines couldn't: making Linux a viable gaming platform beyond enthusiast circles.

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