Wizards of the Coast (WotC)’s parent company, Hasbro, has shared their Second Quarter 2022 report, boasting WotC’s highest revenue quarter in history.
According to Hasbro’s Second Quarter report press release, WotC revenues increased 3 percent with an operating profit of $225.6 million, and Magic: The Gathering led tabletop revenue growth of 15 percent. MTG saw 11 percent revenue gains in the quarter and its revenue is up 10 percent year-to-date.
Hasbro CEO Chris Cocks said on the Hasbro Second Quarter 2022 Earnings Conference Call that, “For the first time in history, every major set this year has crossed $100 million in sales.” He also said that MTG Arena will be available on Steam later this year and WotC expects it to launch on major consoles in 2023. Cocks mentioned that Magic makes up around 70 to 80 percent of WotC’s total business.
Deb Thomas, Hasbro CFO, said, “Price increases also went into effect at the beginning of July for
select Magic: The Gathering sets and will begin to be reflected in results in the third quarter.” Thomas continued, “Cost of sales increased behind higher paper and freight costs, and we continue to pre-purchase paper stock to help meet our printing needs for future set releases.”
Read the Second Quarter 2022 report from Hasbro.