On today’s earnings call, Hasbro CEO Chris Cocks revealed that Magic: The Gathering revenue grew by 7% in the first quarter of 2022, led by massive sales of the Kamigawa: Neon Dynasty expansion. Overall, Wizards of the Coast grew its revenue by 9% in Q1 2022 to $263 million, which resulted in a profit of $106 million (40%+ of total revenue).
Courtesy of Hasbro.
Kamigawa: Neon Dynasty Breaks Records
Wizards’ growth in Q1 2022 was led by the Kamigawa: Neon Dynasty expansion, which released in February 2022 and quickly became the best-selling Winter Magic set ever. It beat last year’s Winter set, Kaldheim—which was the best-selling Winter Magic set at the time—by 28%, which helped make Kamigawa: Neon Dynasty one of the Top 3 best-selling Magic sets of all time. It generated more than $100 million in revenue and is just the fifth Magic set to ever do so.
Additionally, Hasbro reported that revenue for Wizards’ tabletop segment, which includes both Magic and Dungeons & Dragons, was up by 10%. MTG Arena, on the other hand, led an increase of 6% for Hasbro’s digital gaming segment, though Hasbro didn’t release any specific revenue numbers for the game.
Finally, Hasbro doesn’t expect Magic’s growth to slow down any time soon. In fact, CEO Chris Cocks said that he expects Q2 2022 to be Magic’s best quarter ever.
Price Increases are Coming
Like many companies, Hasbro has taken a hit to their profit margin due to supply chain issues and freight/inventory costs. As a result, Hasbro plans on increasing product prices some time in Q2 of 2022.
Unfortunately, Magic won’t be immune to these price increases. New Wizards President Cynthia Williams confirmed today that price increases for “certain” Magic products will take effect in July. She didn’t elaborate on which product would be impacted or by how much their prices would increase.
UPDATE: Wizards of the Coast has announced that it is raising the prices of Draft, Set, and Collector Boosters for premiere sets, as well as the prices of Bundles and JumpStart boosters, by around 11% starting in July.
Unfinity‘s New Release Date: September
Chris Cocks also mentioned today that Unfinity, which was originally scheduled to release on April 1, will be released in September. Wizards originally announced the delay in January but only said that Magic’s next Un-Set would be released in the second half of 2022.