Epic Spending Hundreds of Millions on Game Store: Reports

A story yesterday on DSOGaming said a legal filing called Epic Games Proposed Findings of Fact and Conclusions of Law from the Epic Games v. Apple case says the Epic Games Store burnt through $181 million in 2019 and $273 million last year. We could not find that in the document, but a story today on PC Gamer repeats those figures, and cites additional sources for more calculations. We're just going to pass them along without claiming to understand how they arrived at some of these conclusions:
Thanks to Epic's big legal fight with Apple, we learned this week that Epic committed around $444 million to Epic Game Store exclusivity deals in 2020 alone. Phew.

More precisely, that's $444 million on "minimum guarantees" for games that release on the Epic Games Store but stay off of Steam for a year. A "minimum guarantee" is just another way to refer to an advance: It means that Epic guarantees the publisher a certain amount of money whether or not their game actually sells enough to cover it. For example, Epic put down $10.45 million for Control.

Apple says that Epic lost $181 million on the Epic Games Store in 2019, projected a loss of $273 million last year, and projects another loss of $139 million this year.

In its end-of-year report, Epic said that players spent $700 million on the Epic Store in 2020, but third-party game sales only accounted for $265 million of that spending. That $444 million in advances to third-party devs isn't close to being recouped, then. Some of those deals are surely for games releasing in the future, but according to Apple's learnings, Epic is going to eat "at least $330 million in unrecouped costs from minimum guarantees alone" if you consider 2019's deals, too.

As for how much the Epic Game Store will have lost in total by the end of 2021, factoring in exclusives and all other expenses, projections say it's less than $600 million. Just a bit of spending money, then.