By Sagar V. Mankar 
Hasbro‘s gaming division stood out as a bright spot in the company’s 2024 financial results, showing solid growth while other segments faced challenges.
The toy giant’s Wizards of the Coast and Digital Gaming segment grew by 4% compared to the previous year, bucking the trend of the company’s overall revenue decline.
Digital gaming emerged as the strongest performer within this segment, with licensed gaming revenues increasing by 22%. The mobile game Monopoly Go! was particularly successful, generating $112 million in revenue (royalties from Scopely) for the full year 2024.
While MAGIC: THE GATHERING, one of Hasbro’s flagship tabletop games, saw a slight 1% decrease in revenue. The company attributed this minor dip to tough comparisons against 2023, which included the highly successful Lord of the Rings collaboration set.
“I’m proud of our team for delivering what we promised in 2024: we grew in games and licensing, stepped up our operational efficiency, and vastly improved the performance of our toy business,” said Chris Cocks, Hasbro’s Chief Executive Officer.
The gaming division’s profitability was particularly impressive, with operating profit increasing by 20%. The segment achieved an operating margin of 41.8%, which was 5.7% points higher than the previous year. This margin improvement was attributed to favorable digital licensing revenue mix, productivity gains, and lower royalty expenses.
Hasbro’s focus on its core gaming brands, including DUNGEONS & DRAGONS and MAGIC: THE GATHERING, continues to be a central part of its “Playing to Win” strategy. This strategic plan aims to expand its audience and achieve financial growth through “innovation, operational excellence, and strategic partnerships” by 2027.
Earlier this month, reports confirmed that Dungeons & Dragons and Magic: The Gathering are getting TV and film adaptations, likely as part of this initiative.
For Q4, the Wizards of the Coast and Digital Gaming segment saw a 7% revenue decline, largely due to comparison challenges against 2023’s holiday success with The Lord of the Rings set. However, this short-term dip did not overshadow the division’s strong full-year performance.
Despite broader challenges in 2024, including a 12% decline in Consumer Products and major shifts in its Entertainment segment following the eOne divestiture, Hasbro remains focused on a “franchise-first approach.”
This strategy aims to unlock value from both legacy and new IP, including Magic: The Gathering, Dungeons & Dragons, Monopoly, Hasbro Games, Nerf, Transformers, Play-Doh, and Peppa Pig, as well as partnerships with premier brands.