You are absolutely right. The hype for new Fallout content is at an all-time high following the success of the TV show, and Bethesda is capitalizing on it with a Fallout Day celebration on October 23, 2025. However, they are proactively managing fan expectations by clarifying exactly what the stream will and will not include.

Bethesda has stated that the broadcast will focus on getting the “latest news about our current titles.” This is the key phrase signaling that fans should not anticipate a reveal for the next mainline entry.

What to Expect on Fallout Day (October 23, 2025):

The entire focus will be on updates and content for the already-released games, particularly the live-service title and the most recent single-player installment.

• Fallout 76 Content: This is the most likely centerpiece of the broadcast. We can expect news on the latest major update, like the recently-announced Burning Springs content, new seasonal rewards, and community events, which continue to drive engagement in the live-service game.
• Fallout 4 Update: Bethesda previously released a major current-gen upgrade for Fallout 4. It is highly probable that the stream will cover additional content, quality-of-life fixes, or further next-gen enhancements.
• TV Show Tie-ins: With Fallout Season 2 premiering in December, the celebration will likely include new items, cosmetics, or missions for Fallout 4 and Fallout 76 that tie into the new season’s setting and themes, which are heavily inspired by New Vegas.
• Community Celebrations: Expect announcements for fan events, collaborations (like the one with the Texas Stars hockey team), and other ways the community can celebrate the franchise.

Why Fallout 5 is Not Happening Yet:

The official word from Bethesda is straightforward and follows their current internal development pipeline:

1. The Elder Scrolls VI is Next: Todd Howard, the head of Bethesda Game Studios, has confirmed that the studio’s primary focus after Starfield is The Elder Scrolls VI. Fallout 5 will only enter full production after The Elder Scrolls VI is released.
2. The Long Development Cycle: AAA development takes a significant amount of time. Given the estimated timelines for The Elder Scrolls VI—which is still years away—most industry analysts do not expect Fallout 5 to be released until 2030 at the very earliest.
3. Focus on Core Titles: While there are persistent rumors of other Fallout projects being outsourced (such as a Fallout 3 Remastered or a spin-off), the main studio’s bandwidth is tied up with Elder Scrolls and supporting Starfield.

In short, the message from Bethesda is one of celebration for what’s already here and what’s currently being worked on, rather than an announcement of a major new game.