Magic: The Gathering continues to shape Hasbro’s financial year.
Magic: The Gathering players spent much of 2025 cracking open crossover packs and chasing premium drops, and that enthusiasm translated directly into one of Hasbro’s strongest financial years for the game.
New figures from the company show that MTG delivered massive year-on-year growth, with Universes Beyond and Secret Lair playing a central role in pushing revenue sharply upward.
Big crossover releases helped fuel Magic’s strongest financial performance
Hasbro confirmed during its latest earnings call that Magic: The Gathering generated US$1.7 billion in revenue across FY 2025, representing a 59% increase year-on-year. That leap was driven largely by high-profile Universes Beyond collaborations, with the Avatar: The Last Airbender set emerging as a major standout.
According to Hasbro, Avatar is now the third best-selling Magic set of all time, sitting behind only the Final Fantasy and The Lord of the Rings releases. Continued demand for Secret Lair drops and other licensed products also contributed heavily, reinforcing the growing importance of limited releases and crossover content in Magic’s modern release schedule.
The knock-on effect across Hasbro’s wider business was significant. Overall company revenue climbed 14% year-on-year, almost entirely powered by 45% growth in the Wizards of the Coast and Digital Gaming segment, where Magic remains the key driver. Monopoly Go! added further momentum, while both the Consumer Products and Entertainment divisions posted 4% declines, further spotlighting MTG’s importance to Hasbro’s financial stability.
However, the rising dominance of Universes Beyond and Secret Lair has also attracted legal attention. Hasbro is currently facing a shareholder lawsuit accusing the company of overprinting premium and crossover sets, allegedly undermining the long-term value of existing Magic cards. The complaint further claims that Hasbro’s leadership has strategically withheld these releases, deploying them selectively when the wider business needs a financial boost.
Hasbro has strongly denied the allegations, saying that the claims have “no merit”. The company has also sought to dismiss a similar lawsuit filed in 2024 by the West Palm Beach Firefighters' Pension Fund and the City of Miami General Employees & Sanitation Employees' Retirement Trust, arguing that extensive amendments mean that the case no longer reflects its original claims.
Responding to the renewed scrutiny, Hasbro said in a statement reported by IGN: “Our strategic plan for Magic was implemented, and the results underscore the strength of that strategy. As further reflected in our earnings results released this morning, Magic: The Gathering just completed its most successful year ever.”
Looking ahead, crossover momentum continues. Magic’s next Universes Beyond release will bring Teenage Mutant Ninja Turtles into the fold, complete with a Commander deck, and is scheduled to launch on 6 March.
