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Jagex Limited

Jagex makes and runs an online fantasy role-playing game called RuneScape, and players pay a monthly subscription to keep playing.

Jagex is a British video game company, and it has really only ever had one big hit: RuneScape, a browser-based fantasy role-playing game where players wander a huge world, fight monsters, complete quests, and level up skills like mining or fishing. What makes it unusual is that RuneScape has been running since 2001, and tens of millions of people have played it over the years. Even today, a devoted crowd still logs in to play.

The money comes mostly from subscriptions. RuneScape is free to try, but a lot of the good stuff — extra content, more areas, faster progress — sits behind a monthly membership fee. Players also pay for things like special items and perks. Because the game is old and cheap to keep running, the business throws off a lot of cash, and a relatively small, loyal player base can keep it profitable for a long time. The vulnerability is obvious: this is basically a one-game company. RuneScape's players are aging, and newer players have endless free alternatives on phones and consoles. Jagex has tried to refresh things, launching a modern version called RuneScape 3 alongside the old-school version, and it built a new game, RuneScape Dragonwilds. But so far nothing has matched the original's pull. If the core audience drifts away, there's no obvious second engine powering the company.

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Jagex has also been a hot potato in private ownership. It's changed hands several times, passing through investment firms that each paid a higher price, which piled on debt and left the company paying interest bills. After a planned sale to a Chinese buyer was blocked by the UK government on national security grounds, the American private equity firm CVC Capital Partners bought Jagex in 2024. So the company runs a beloved, aging game — while also carrying the weight of repeated leveraged buyouts.

Saved answer · last researched 28 Oct 2026