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"Last year we were the 'Manor Lords publisher', this year I think we're something more": Heroes of Might and Magic company sold over 4.5 million copies two years in a row

News
By Kaan Serin published 20 December 2025

But their 2025 sales were spread out across more games

When you purchase through links on our site, we may earn an affiliate commission. Here’s how it works.

Manor Lords
(Image credit: Slavic Magic)
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Strategy game publisher Hooded Horse has been on a roll lately with back-to-back hits, like Manor Lords and 9 Kings, and some really exciting upcoming games, such as Heroes of Might and Magic: Olden Era. And, now, CEO Tim Bender has released some really interesting stats about the company's performance.

In a LinkedIn post, Bender revealed that the publisher had "sold over 4.5 million copies across all stores" over the last year, with its catalogue being added to Steam Wishlists more than 8.5 million times. "I can't express how lucky we feel to serve as publisher for so many amazing developers," he wrote.

What makes those stats notable is that sales were essentially in line with last year: "Same copies sold, just this time it was 8.5 million wishlists instead of 9.5 million." The difference is that, for 2025, sales weren't primarily dominated by just one viral hit.

"Last year, our numbers were heavily driven by Manor Lords -- it represented about 60% of our copies sold and about 40% of our wishlist additions," Bender continued. "This year, no one game accounts for more than 18% of our copies sold or more than 12% of our wishlist additions... So last year we were the 'Manor Lords publisher', this year I think we're something more."

"I firmly believe a publisher shows their value in consistent performance across games. Publishers exist to serve developers, to provide as much risk spreading and general uplift as is possible, and they should be judged on how well they are providing their service by median performance, not the outlier hits," he added.

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As Heroes of Might and Magic: Olden Era soars, Hooded Horse boss Tim Bender says passion-publishing trumps chasing money: "Why would anyone want to work with you if not for total lack of choice?"

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Kaan Serin
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Kaan freelances for various websites including Rock Paper Shotgun, Eurogamer, and this one, Gamesradar. He particularly enjoys writing about spooky indies, throwback RPGs, and anything that's vaguely silly. Also has an English Literature and Film Studies degree that he'll soon forget.

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