Can 'Magic' Double Again?
Posted by Milton Griepp on July 23, 2018 @ 8:50 pm CT
CEO Brian Goldner said both Magic: The Gathering and Dungeons & Dragons were adding new customers at double-digit rates. Goldner also reminded analysts that back in 2012, he’d noted that Magic had doubled to nearly $200 million in sales as of 2011 (see "’Magic’ the Largest Game Brand"), and that he thought it had the potential to double again.
Magic Arena has signed up over a million people for the closed beta, Goldner revealed, a sign that the new game will launch strong, presumably having an impact on sales of the tabletop game as well.
Hasbro’s overall sales for Q2 were down 7% due to the Toys 'R' Us liquidations around the world and even softer sales in Europe due to retail changes, the company said. U.S. and Canada sales were down 7% and international sales were down 11%. Those declines were only partially offset by a 26% increase in Entertainment and Licensing revenues, driven primarily by a change in accounting that allowed the company to book licensing revenues faster.
Profits were down 11% to $60.3 million for the quarter, from $67.7 million in the year ago period. Games are among Hasbro’s higher margin products; higher sales of Magic: The Gathering, D&D, and Duel Masters helped keep profits as strong as they were despite the declining overall sales, CFO Deborah Thomas said in the conference call.
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