As Company Revenues Passed $1 Billion for the First Time
Posted by Milton Griepp on February 8, 2022 @ 5:19 am CT
In its earnings release, the company revealed that Wizards of the Coast had passed $1 billion in sales for the first time in 2021. Given the tabletop game sales revealed in the conference call, WotC’s digital sales must be at least $50 million, and could have been significantly more.
Hasbro reported total games sales of $2.1 billion for the year, up 19% from a very successful 2020. Beyond Magic: The Gathering, other brands doing well included Dungeons & Dragons, Duel Masters, and HeroQuest, which was launched direct-to-consumer.
Once again, the importance of WotC to Hasbro’s profitability was visible in the results: the Wizards of the Coast and Digital Gaming segment reported an operating profit of $547 million for the year, accounting for 72% of Hasbro’s total company-wide operating profit of $763.3 million.
The segment also drove Hasbro’s growth, with a 42% increase in sales in 2021.
Hasbro reported $6.4 billion in total revenues for the year, up 17% from 2020. Net earnings were $428.7 million, up 93% from $222.5 million in 2020.
Wizards of the Coast and Digital Gaming grew at a more prosaic 18% in Q4, with total gaming across the company down 1%.
Fresh Start for ‘Magic’ Series"), in the second half of 2022, and the release of the Dungeons & Dragons live action movie in 2023 (see "Geek Movie Calendar – 2023"). And we found this quote from incoming Hasbro CEO (and current WotC CEO) Chris Cocks on one of the company’s three priorities for the future, growth in games and direct-to-consumer sales:
"At $2.1 billion and 19% year-over-year growth, Hasbro is one of the biggest and fastest-growing games publishers in the world," he said in the conference call. "Our investments in digital and direct-to-consumer give us an amazing opportunity to learn from them in real time via cutting-edge data analytics and to reinvent how we bring product to market and customize it for our most passionate fans."