Hasbro announced that its Wizards of the Coast division had its biggest quarter ever, led by major growth in its tabletop gaming segment. Hasbro had its quarterly earnings report today, with news that Magic: The Gathering and higher prices has pushed its overall profit above estimates. Of note was that Hasbro's tabletop revenue was up 15% compared to the same period last year, driven largely by Magic: The Gathering. According to Hasbro CEO Chris Cocks, every major Magic: The Gathering set had over $100 million in sales this year.
One small surprise was that Dungeons & Dragons actually had a down quarter compared to 2021. This isn't due to a decrease in tabletop game sales, but rather due to Dungeons & Dragons: Dark Alliance coming out during 2Q2021. Hasbro did cite its purchase of D&D Beyond during the sales call, noting that it helped accelerate "direct-to-fans capability" for Dungeons & Dragons. Since purchasing D&D Beyond, Wizards has used the site to release free packets of rules, including a new statblock for the legendary archlich Vecna and free adventures designed to prepare players for its upcoming Spelljammer release.
Magic: The Gathering continues to be a major part of Hasbro's business. During the Q&A section of today's media call, Cocks explained that Magic: The Gathering was between 70%-80% of Wizards of the Coast's overall business. Magic: The Gathering continues to be a dominantly North American business, with about 75% of Magic: The Gathering's sales coming in the United States, Canada, and Mexico.
Additionally, Magic: The Gathering Arena will be released on Steam later this year and is expected to come out on consoles sometime in 2023. Magic: The Gathering Arena continues to be a major driver of revenue for Wizards of the Coast's digital segment and has helped grow the card game beyond the tabletop.0comments