That said, I'm standing by my point that if Frontier has to choose to allocate developers to an update for Elite or the new F1 Manager game, the latter is what's going to make them more money. (Now if Ian comes along and proves me wrong, as he annoyingly does with all his facts and figures LOL, then I'll tap the mat on this supposition).
That's an interesting one, since their F1 game has been one of their least successful launches. I have no idea if that's true or not ...
digs out spreadsheet ... I think you're right, except maybe for very specific definitions of "ED update".
F1 2022 looks like it cost them ~£24M to develop and got them ~£12M back in early sales plus presumably a bit more since.
They plan to make at least four games in the series, and think "being able to do an F1 game at all" represents 2/3 of the development costs of F1 2022.
That fits with their description of F1 2022 as being "in profit" (just!) if you allocate its share of the framework equally across all four.
So in that case, they might expect to spend £8M on the game-specific bits of F1 2023, and make back another >£12M.
In 2022, they spent about £4M on Elite Dangerous (operations+development of U10 to U14) and got about £6M back, which is essentially the same ratio. So if they could keep that ratio for a larger update - bearing in mind at this point the operational costs don't need paying twice - that could be a little bit better than F1. But I think that'd be quite tricky for them to do with either unpaid (slow) or paid (risky) updates.
However ... it's when the
alternative is considered that the decision becomes clear: if they don't develop ED then they probably still get a decent profit over operational costs (though maybe not as much as they could have), at least in the short-term. If they don't develop F1 2023 they have to write off a loss even bigger than Odyssey on the "F1 games framework" development (not to mention any penalty clauses there might be with F1 for not releasing a 2023 game)
So if it's hypothetically one or the other, then definitely they do F1 2023 and keep ED on "slow". No choice there at all!
(Something like a new Planet Zoo expansion almost certainly has a much better expected margin than either, of course)