Boutique shop versus Ubiquitous manufacturer
I think you have chosen the wrong analysis
SGG is more like a Boutique motorcycle shop making one of a kind vehicles than a Ubiquitous motorcycle manufacturer making carbon copy scooters for millions of customers across the globe
F2P watch the shop’s 24/7 webcam
C2P buy T-shirts off the company website
But the deposit for the waiting list is more than a stand alone, family house in most countries [ see costume 5* HotM spend depth ( grind, speed ups, loot boxes, etc. ) ]
The shop will often use https://www.omaze.com/ to raffle off the latest product ( looking at you Beta Beat )
Which is why SGG is trying to design costumes so one version ( base hero or costume ) is good on attack, and the other on defense, so you need to win the raffle, twice ( see below )
Numbers
5* HotM spend depth is $ 3,972+ USD per year for 12x 5* 1.1 HotM, with special offers pricing the 3* / 4* ascension items at $1,200+ USD for 12x 5* 4.80 HotM
Total $5,172+ USD per year
Costume 5* HotM spend depth is $8,977.33+ USD to $26,932+ USD per year in Tavern ( Featured heroes 6x to 18x 5* 1.1 ), with special offers pricing the 3* / 4* ascension items at $600+ to $1,800+ USD for 6x to 18x 5* 4.80 HotM
Total $9,577.33+ to $28,731.99+ USD per year
If two copies of the hero are needed AND you missed the initial release month, that jumps to spend depth is $17,954.66+ USD to $53,864+ USD per year in Tavern ( Featured heroes 12x to 36x 5* 1.1 ), with special offers pricing the 3* / 4* ascension items at $1,200+ to $3,600+ USD for 12x to 36x 5* 4.80 HotM
Total $19,154.66+ to $57,463.98+ USD per year
This does not count emblems, and aethers
Last mentioned, they employ 60 people
No time
My spouse runs a sole proprietor, boutique yarn shop. Her advertising budget is zero. She has no time to run an advertising department if she had the money
My wife has made her shop expenses for 5 years now
SGG has no budget, or time, for content creators
Rumor from Beta is forum volunteers have always helped the content creators but SGG never had time, or budget
I expect Empires to be more profitable in the next 3 years
Notes
Spend depth
Calendar offers
FIN