How Turning Halo into a TV Show Generated Billions of Revenue

As both a marketer and a long-time fan of blockbuster storytelling, I was intrigued when Halo made its show on Paramount+.

The Game brand had long reigned as one of the most iconic names in gaming, with Master Chief becoming an icon since the 2000s. But what does it actually mean financially and strategically?

After watching the Halo series, I dug deep into the numbers, the marketing playbook, the strategic implications for Microsoft and 343 Industries, and I came up with a few questions that I would like to share with you.

1- How Much Did the Halo Show Make?

2- How Much Did Microsoft/343 Industries earn from the show?

3- What Made the Halo Show Successful?

4- How the Halo Show Boosted the Game?

These are the important questions that came to my mind. I am sure some of them came into your mind. Now let’s answer them together….

How Much Did the Halo Show Make?

During my search, I found out that Paramount+ hasn’t officially disclosed detailed revenue figures from the show, but also depending on my search (and a friend I call chatgpt) I found a few estimates.

The first season of Halo reportedly production budget was around $90–200 million and Gamespot reported to cost around $10 million per episode which is equal to game of thrones.

It was reported by Scified.com that the Paramount+ network revenue grew by 148%, resulting in around $585 million for the studio for the quarter of 2022 and that the network saw an increase in its subscriptions by 6.8 million users.

How Much Did Microsoft/343 Industries Earn?

For Microsoft and the game’s publisher, 343 Industries, the show’s success wasn’t about direct profit. In this case, they earn only from the IP License depending on the deal terms. But these are not real values, they lie elsewhere.

Franchise Revival: The series reinvigorated global interest in the Halo universe, particularly among non-gamers, lapsed fans and if you search for the halo game on reddit you will find that there are posts from users who are waiting for its next edition. In addition, there Reddit sub “r/Halo” has a decent activity with over 2 million followers.

Game Sales & Engagement: Following the show’s premiere, Halo Infinite, which launched just months earlier, saw renewed player activity, especially in multiplayer. The cross-promotion gave the game a longer tail than most titles experience.

Merchandising: From collectibles to apparel, the Halo brand saw a noticeable uptick in merch sales following the show’s launch. It was reported by Techspot.com in 2024 that the Merchandise alone made them over $1.8 billions.

What Made the Halo Show Successful?

Despite some mixed fan reviews, the show achieved significant milestones. Here’s why:

Brand Recognition: Halo is a $6+ billion franchise with an instant recognition of Master Chief (I bet you remembered yourself fighting when you saw Master Chief in action and you had an urge to hold the alien weapon when you saw it) and the Covenant gave the show a built-in fan base, resulting in low customer acquisition costs for Paramount+.

Multi-Platform Promotion: Paramount+ executed a robust marketing campaign, including:

- High-profile Super Bowl teasers

- YouTube pre-rolls targeting gamers

- Co-branded campaigns with Xbox and gaming influencers

Expanded Narrative: Rather than a direct adaptation of game events, the show explored new storylines within the Halo universe. This gave creators creative freedom and prevented alienating new viewers unfamiliar with the games.

Strong Visuals: The production quality mirrored big-budget sci-fi films, bringing the Halo universe to life in a way fans had only imagined. High-quality VFX was a strong pull for sci-fi fans who hadn’t played the games.

How did the Show Boost the Game

Here’s where things get especially interesting from my marketing perspective:

Brand Synergy: The show reminded fans why Halo matters. It wasn’t just a nostalgic ride; it was a timely cultural re-entry.

Increased Engagement with Halo Infinite: After a post-launch dip, Infinite saw increased Twitch streams and Xbox Game Pass engagement following the show’s release.

Cross-Promotion: In-game events tied to the show and special items “such as their whole merchandise” helped turn viewers into players and players into viewers (if you scroll through their subreddit you will find that there are still new users trying the game for the first time till this day).

Was Halo a critical masterpiece? Not quite, critics were split, and fans debated the show’s creative choices. But from a marketing and business lens, it was a masterclass.

By bridging the gap between TV and gaming audiences, Halo not only generated substantial revenue for Paramount+ but also gave Microsoft and 343 Industries renewed relevance in a crowded entertainment landscape.

So my takeaway is that turning a video game into a TV series isn’t just fan service, it’s a strategic ecosystem play that boosts brand value across all verticals.