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We depend on a relatively small number of franchises for a significant portion of our revenues and profits,” executives warned shareholders in the 2011 annual report. We can put an actual dollar figure on that dependence: Call of Duty, World of Warcraft, and Skylanders accounted for two-thirds of Activision’s sales in 2014 and an even higher proportion of profits.But last quarter marked an important turning point on that score. Warcraft wasn’t responsible for anything close to 90% of Blizzard’s revenue. It didn’t even account for the majority of sales. For the wow shop mounts first time, that honor went to a batch of different titles: Diablo and two new brands, Hearthstone and Heroes of the Storm. “The franchise diversification inside Blizzard is happening rapidly,” Chief Financial Officer Dennis Durkin explained in the company’s recent quarterly conference call.


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