By Azura, by Azura, by Azura – the rumors were indeed true. Yesterday, Bethesda set the internet ablaze with the long-awaited reveal of Virtuos’ remaster of The Elder Scrolls IV: Oblivion. This surprise shadow-drop, showcased during an ‘Elder Scrolls Direct’, instantly captured the attention of hundreds of thousands of concurrent players. This moment of global excitement feels like a beacon of hope for Bethesda Game Studios, which has faced its fair share of challenges in recent years. From the troubled launch of Fallout 76 to the lukewarm reception of Starfield, fans have been questioning whether Bethesda has lost its touch. With fierce competition from RPGs like Larian Studios’ Baldur’s Gate 3 and Obsidian’s The Outer Worlds, the anticipation for Elder Scrolls 6 and Fallout 5 remains high, yet distant. However, this re-release of Oblivion might just be the step forward that Bethesda needs, albeit in an unexpected direction.

At its zenith, Bethesda Game Studios was synonymous with the RPG genre. In 2020, Microsoft’s leaked FTC documents disclosed that Fallout 4 had sold an impressive 25 million units, with over 5 million sold in its first week alone according to VGChartz. In 2023, Todd Howard announced that Skyrim had surpassed 60 million sales, bolstered by its numerous re-releases. In contrast, Starfield's sales have been estimated at just over three million units a year and a half post-launch. Despite the boost from Game Pass subscribers and the absence from PlayStation, this number is underwhelming for Bethesda. Even the dedicated Starfield fanbase has expressed dissatisfaction with the game's first expansion, Shattered Space.

This leaves Bethesda with a significant challenge. With The Elder Scrolls 6 still "years away" and Fallout 5 a mere whisper in the studio's corridors, the question remains: how can Bethesda rekindle its relationship with its fanbase? The answer might lie in revisiting its storied past.

Rumors of the Elder Scrolls IV: Oblivion remaster surfaced in September 2023, following leaks from Microsoft documents about unannounced Bethesda titles, including a remaster of the 2006 classic. The buzz continued until January 2025, when a former Virtuos employee shared more details, sparking debates among fans about the remaster's authenticity. Finally, last week, the dam broke, with over 6.4 million Google searches for ‘The Elder Scrolls IV: Oblivion’, a 713% increase in the last week alone. Bethesda's reveal livestream peaked at over half a million viewers, and despite the leaks, more than 600,000 people tuned in to see a 19-year-old game reimagined. The demand was so intense that discount game key websites like CDKeys crashed, while Fanatical and Green Man Gaming experienced significant slowdowns. As of yesterday, Steam reported 125,000 concurrent players, with the game topping the best-seller list. The enthusiasm for Oblivion is as fierce as the flames from the Oblivion gates themselves.

The message from players is clear: if you (re)build it, they will come. To keep fans engaged during long development cycles, revisiting classics like Morrowind or the post-apocalyptic landscapes of Fallout could be a smart move. Commercially, it's a no-brainer. While Bethesda's main team focuses on new projects, partners like Virtuos can leverage existing blueprints to create remasters in shorter time frames. These remasters tap into established audiences and introduce new generations to the rich worlds of Tamriel and the Fallout universe.

Bethesda has already leveraged its catalog effectively. During the first season of the Fallout TV show on Prime Video, Fallout 4 was discounted by up to 75%, accompanied by a next-gen update featuring elements from the show. As a result, Fallout 4 sales surged over 7,500% in Europe alone, despite its age.

Oblivion Remastered offers a visit to the past that looks like the future. Image credit: Bethesda / Virtuos

Looking back at Microsoft’s leaked Bethesda roadmap, a Fallout 3 remaster was slated to follow Oblivion two years later. Although timelines have shifted – Oblivion was initially planned for fiscal year 2022 – the original gaps suggest a Fallout 3 remake might be on the horizon for 2026, coinciding with the second season of the Fallout TV show. Given the show's focus on New Vegas, could Bethesda be planning a surprise New Vegas remake? The synchronicity between the first season and Fallout 4 hints at the possibility of a similarly strategic move for the New Vegas-centric second season. After shadow-dropping Oblivion, a New Vegas Remastered trailer at the end of Fallout Season 2’s finale isn't out of the question.

The message from players is clear: if you (re)build it, they will come. However, if there's one game in Bethesda's catalog that truly deserves a remake, it's The Elder Scrolls III: Morrowind. Fans have long clamored for a Morrowind remake, with some even using Skyrim’s tools to create projects like Skyblivion. Yet, Morrowind presents unique challenges. It stands at the crossroads of Bethesda’s evolution, built differently from modern Elder Scrolls games. It's partially voiced, relies heavily on text for storytelling, lacks quest markers, and has non-existent combat physics. While Virtuos managed to overhaul some of Oblivion's systems, Morrowind's entire framework is a complex system. Modernizing it too much risks losing its original charm, while retaining too many outdated elements could alienate new players.

For a studio that has defined a gaming sub-genre, the challenge is to innovate while retaining its audience. Rockstar Games has kept Grand Theft Auto fans engaged through GTA Online, fueling the development of the rumored high-budget GTA 6. Bethesda, known for its expansive single-player worlds, has struggled to replicate this success with Elder Scrolls Online and Fallout 76. However, the overwhelming response to the Oblivion remaster shows that fans are eager to revisit Bethesda's classics. While not every remaster will be a success, as seen with Rockstar’s GTA Definitive Editions, breathing new life into old classics could be Bethesda’s path back to the top of the modern RPG scene.