Last week, Hasbro reported its financial results for the third quarter (ended September 30, 2024). Here are the key points concerning its gaming business.
Baldur’s Gate 3 (left), Monopoly Go! (right)
- The company’s net revenue totaled $1.28 billion, a 15% decrease year-over-year.
- Hasbro also achieved a net profit of $223 million. In the third quarter of 2023, the company had a loss of $171 million.
- Revenue from the segment that includes Wizards of the Coast and video games fell by 5% to $404 million.
- Despite increased revenues from Magic: The Gathering and steady performance from Monopoly Go!, Hasbro recorded an expected decline in licensing revenue from Baldur’s Gate 3.
- For the entirety of 2024, the company expects to earn $35 million from BG3 (previous forecast was $30 million). Most of this amount has already been received in the first three quarters.
- In a conversation with investors, Hasbro CEO Chris Cocks emphasized that the company still counts on a long tail of sales for Baldur’s Gate 3. The management is confident that the game’s quality and Larian’s approach to supporting their projects will allow them to earn royalties — albeit in smaller volumes — over several years.
- Royalties from Monopoly Go! consistently bring the company $10 million monthly. Hasbro expects that the Scopely mobile hit will continue to provide stable income for many more months.
- As for the full-year forecast, the company still expects revenues from Monopoly Go! to reach $105 million.