On February 10, 2026, Hasbro revealed its fourth quarter and full year financial results for 2025, with the full year net revenue being US$4.7 billion, up 13.7% from its 2024 revenue of US$4.14 billion. The reason for that growth is the success of Hasbro's Wizards of the Coast and Digital Gaming segment, which grew by 45%, going from a net revenue of US$1.51 billion in 2024 to US$2.17 billion in 2025.
In fact, if you look at those numbers more closely, you'll notice that overall company net revenue rose by US$566 million, while Wizards and Digital revenue rose by US$676 million — which means Wizards' gains covered the losses in the Consumer Products segment and Entertainment segment, each of which was down by 4%.
And that 45% growth in Wizards and Digital was driven by the success of Magic: The Gathering, revenue for which was up 59% from 2024 "powered by Universes Beyond sets, backlist and Secret Lair", according to the press release.
I haven't played Magic in more than a decade, and I'm dumbfounded each time I look at the pace of sets being released, especially the Secret Lair sets. On January 15, 2026, Wizards of the Coast announced four sets of 5-6 cards based on Fallout that retail for US$30-50, which was followed on February 9, 2026 by seven sets of 4-5 cards based on Dungeons & Dragons that retail for US$30-40 each, with an all-in package of fourteen D&D-based sets going for US$465.
An editorial aside: Clearly buyers exist for these sets since Wizards keeps releasing them, and I'd argue that the ease with which these cards come out should perhaps make completists re-think their feeling that they're missing out unless they have every item ever published for a particular game. After all, as soon as you buy all of these sets, Wizards could release another half-dozen that would set you back another US$200.
The same is true for board games, of course, with promo cards being relatively cheap to produce, but often challenging for everyone in the world to get in terms of both time and money. If promos fall into your lap, great, but if not, the game will be 99.8% the same without it, so don't worry about it.
The same day that Hasbro released these financial results, it announced "a new multi-year licensing partnership starting in 2027 with Warner Bros. Discovery Global Consumer Products (WBDGCP), making Hasbro the global primary toy licensee for the world of Harry Potter and the upcoming HBO Original HARRY POTTER series". From the press release:
Hasbro's innovative team will bring the Harry Potter universe to life through a range of film and HBO Original series-inspired products featuring dolls, role play, action figures & collectibles, interactive plush, board games and more to be revealed later this year.
Hasbro followed these press releases with another on February 11, 2026 boasting that "In 2025, Hasbro brands delighted more than 1 billion people worldwide, reaching nearly 1 in every 8 consumers globally." Ah, yes, the eight billion consumers of the world. That's how we love to think of ourselves, yes?
Here's an excerpt from this announcement:
This global reach is a direct outcome of our Playing to Win strategy, which prioritizes play, partnership, and fan engagement at scale. In 2025 alone, more than 800 million people watched content featuring Hasbro brands, while 600 million consumers expressed their fandom through apparel, décor, school supplies, and other merchandise. These engagement metrics underscore how Hasbro’s focus on delight translates into meaningful fan connections and sustained business momentum around the world.
