We never had official numbers since 2016, but I remember 3 rumors/indirect info about WoW subs:
1) On Legion launch Tom Chilton said there are 10.1 milion subs.
Blizzard response was: "This was a misquote, or some kind of misunderstanding on the part of the journalist," a rep said. "Our policy for almost a year now is that we do not talk about subscriber numbers, and Tom did not do that with this publication."
For me sounds like Blizzard just didnt wanted return to revealing numbers, because they knew they will plummed soon. And as we see soon, they were right, Legion had huge drop, just like MoP, WoD, BfA, SL. It's also not hard to believe Legion launch was same as WoD and MoP. That's why I think 10M numbers or something close to that was correct.
2) During SL release we had this info: https://www.businesswire.com/news/ho...me-of-All-Time
"In the months leading up to the expansion’s release and the time since launch, the game reached and has sustained its highest number of players on monthly or longer-term subscriptions compared to the same period ahead of and following any WoW expansion in the past decade, in both the West and the East." I remind that 10 years before SL was Cataclysm launch with 12 milion peak - highest in WoW history.
Also, SL was most preordered expansion in WoW history, without significant bonuses like allied races, early access or housing. Beside cosmetic you just got DK for Pandaren and new races earlier.
3) Now compare it with sub graph provided by Blizzard on some conference. https://www.wowhead.com/news/reflect...shots:338238:4. It confirms that SL and Classic release were bigger deal than Legion.
Bellurar came with some weird pixel measuring that it was ~7 milion around SoD launch. But from graph it's clear it reached Legion launch numbers.
But that doesn't really matter, point is even SL low point was no lower than Legion one - if was even higher than BfA one. There was never huge catastrophe for wow subs in whole timeline. Of course I don't deny that they had huge PR crisis that could lead to bigger sub plummet without drastic changes in DF.
4) On top of that there is this recent "join 9 milion players" ad, but its too vague to make anything from that. Still, since 2022 we have (imo) extremely effective combo of yearly sub incentives + trading post + regular and PREDICTABLE content release + classic filling any remaining gap.
So after all that: what are base for your "Retention is better because there's less people playing" argument beside your feels?
Personally I think Blizzard is doing huge diservice to themselves by not revealing player count like Steam. It doesn't hurt WoW that much since people still perceive it at biggest MMO (still player count would show differences between all versions), but it hurts more OV2 and D4 where we see only fraction of playersbase on Steam, while competition launched on this platform.

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