Hasbro, parent company of Wizards of the Coast (WotC), released its second quarter financial results today and they were headlined by a 27 percent revenue increase thanks to WotC’s Digital Gaming Segment. Magic: The Gathering was, once again, the driving force behind the profits, powered by Secrets of Strixhaven and the recently released Magic: The Gathering | Marvel Super Heroes.
Hasbro CEO, Chris Cocks, said during the Second Quarter 2026 Earnings Conference Call that Magic: The Gathering | Marvel Super Heroes set a record for Day-1 and Month-1 revenue and it became the fastest set to reach $300 million in revenue. When asked to compare it verses Magic: The Gathering—FINAL FANTASY from 2025, Cocks noted it is off to a really strong start and it has had a bigger allocation at launch with strong sell-throughs and reorders.
However, Magic: The Gathering—FINAL FANTASY is still the champ when it comes to biggest Magic sets of all time and Cocks said it had a stronger set of follow-up and ancillary products after its initial release. “We are pretty pleased with both,” Cocks said. “But you’re going to have a tough time getting us to compare third party IPs against each other. That’s something we are loathe to do.”
With many questions and rising interest regarding Magic: The Gathering coming up in earnings calls, Cocks took the time to explain what Magic really is as a business. His answer sprawls and makes it clear that Magic isn’t some little brother-like hobby that some might have viewed it as in the past.
“Magic, while it’s by far our biggest brand, in many ways is also the least understood. Magic is not a niche hobby business, it’s a mega franchise,” Cocks said. “Magic: The Gathering belongs in the same company as Pokémon, EA Sports, World of Warcraft, and Minecraft. What sets Magic apart is longevity. Magic has been compounding for more than 30 years. It’s also a deep game and that depth and complexity is precisely what our players love. Magic fans play and collect for years because mastery never ends and that retention is what powers a robust secondary market and a passionate community of tens of millions of fans who treat the game as a life-long pursuit rather than a passing trend.”
“The numbers bear it out,” Cocks continued. ” Since 2009, our tabletop and digital Magic businesses compound revenue at over 17 percent a year and grew in 15 of the last 17 years and those two years it didn’t grow each were declines of less than three percent. Step back and look at Magic over any real horizon and you see one of the most consistent compounding franchises in entertainment — a genuine peer to the biggest names in gaming. And with Universes Beyond it is bigger than just a game, it is a platform with platform-level economics and potential.”
While highlighting the announcement of the three in-universe, first-party Magic sets from this past weekend’s MagicCon: Amsterdam preview panels, Cocks also touted the unannounced Universes Beyond sets coming in 2027. He said the IPs, which there will be three of next year, are really strong and that fans will be thrilled by them.
“One thing I will say on the Universes Beyond partners that we have next year is that they will be a bit more fantasy adjacent,” Cocks said. “And I don’t think any of them take place in New York City, because we definitely have gotten that feedback from some fans.”
Throughout the call, Cocks also continuously referenced digital investments and lauded the current digital offerings. He said that MTG Arena has generated almost $1B since its launch in 2019. However, he also said that he continues to believe there is a lot of upside in digital as Hasbro invests in new digital initiatives to expand the game beyond what they have with Arena. Cocks said the digital investments won’t really manifest in 2027, those are more aimed at 2028 and beyond.
Read the press release and view the Q2 financial results presentation from Hasbro.
