A newly revealed report from Kadokawa, the publishers behind many of the most popular light novels and anime today like Re:ZERO, Eminence in the Shadow, and Sword Art Online, shows the top performing IPs from April 2026 to September 2026.
The above graphic from the report is circulating broadly on social media, and meeting mixed reactions largely due to how difficult it actually is to understand.
What’s not difficult to understand, however, is how absolutely dominant Re:ZERO has been for the Japanese entertainment company this year. With a hit new anime season driving much of its revenue, Re:ZERO sits comfortably atop the list of overall best selling titles, while also leading in the animation/film category, and coming in second for the Publication/IP creation.
Sword Art Online hangs onto #4 in the Publication and IP creation category
While the sheer dominance of Re:ZERO won’t come as a surprise to many, what might be more surprising is the continued strength of Sword Art Online specifically in the Publication and IP Creation category: a category which Kadokawa admits to struggling with last year, with profits previously down 50% before reforms appear to have helped bolster its numbers.
While not having a new anime in years prevents it from competing in the combined category across publication and animation, coming in at fourth for the publication category is an impressive achievement for a brand many in the West may not even know is still alive and well.
How is Sword Art Online doing so well without a recent anime?
Having an ongoing anime doesn’t just drive revenue for Kadokawa directly from the animation: it acts as a marketing engine for the business’s publication and IP creation arm as well. For example, when we look at last year’s breakdown of the same category, Re:ZERO had an outsized impact on the anime/film category thanks to the airing of its third season, while landing all the way in tenth place in the publication side of things.
This year, that gap has clearly closed. Undoubtedly Re:ZERO reaching global phenomenon status has helped drive sales for its books and titles.
Re:Zero: Starting Life in Another World, Vol. 1
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That being said, one IP that doesn’t need an ongoing anime to still sell well is Sword Art Online. Sword Art Online was ranked #2 in the publication/IP creation category last year as well, and slips down to fourth largely due to the meteoric rise of Re:ZERO.
However, landing at 4th proves that the Sword Art Online franchise remains a major pillar for Kadokawa for things like licensing and book sales. This year alone it released new titles in Japan such as Sword Art Online Vol. 29 and Sugary Days, while Yen Press released English versions of Sword Art Online Progressive Vol. 9, and various manga adaptations and eBooks.
Sword Art Online Progressive 9 (light novel) (Volume 9)
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And it’s not just domestically in Japan that SAO remains a revenue engine for Kadokawa. A growing percentage of the company’s publication revenue is coming from international audiences overseas. Sword Art Online isn’t just popular at home: it has staying power worldwide, and potentially even growth opportunities as light novels become more widely adopted in the Western market.
While Re:ZERO is undoubtedly one of the hottest anime hits right now, it’s had two anime seasons to help it climb the ladder in the publication/IP creation category. Sword Art Online has stayed in the top tier for years with no major anime installment to grease the wheels.
When Integral Domain hits in 2028, we’ll likely see Sword Art Online move closer to that #1 spot on the publication/IP creation category, if not claiming it altogether.
