2024 D&D Core Rulebooks Off to "Strongest-Ever" Start for D&D Books

D&D got a shout out during the most recent Hasbro quarterly report.
1761242857519.png


Dungeons & Dragons got a rare shoutout during Hasbro's 3rd quarter earnings report, with Hasbro CEO Chris Cocks stating that the 2024 Core Rulebooks were off to a record start. Today, Hasbro released its third quarter 2025 earnings report, with Wizards of the Coast propping up the overall revenue for the company. Wizards of the Coast is up 33% YTD, with Magic: The Gathering having a 40% jump compared to last year. However, Cocks also called out Dungeons & Dragons in his comments, speaking to both the Core Rulebooks and D&D Beyond's Maps VTT.

Cocks' full comments (which are admittedly very brief) can be found below:
The refreshed 2024 editions of D&D’s Monster Manual, Players Handbook, and DM Guide are off to the strongest-ever start for D&D books. D&DBEYOND’S new, accessible virtual tabletop has driven weekly traffic up nearly 50% since its September launch.
Hasbro is having a good year, with total revenue up 7% compared to last year. Wizards is expected to be up 36-38% for 2025, largely due to the performance of Magic: The Gathering.
 

log in or register to remove this ad

Christian Hoffer

Christian Hoffer

When Worlds of Wonder went digital with Ticket to Ride, they noticed a "reverse funnel" where people who learned played the digital version bought the board game to share with their family (and had already learned the best strategies for the game.) Over the years, Battletech has also gotten so many gamers who remember the video games and want to check out the original.
This reverse funnel might be the best we can hope for with the tabletop hobby. It makes me wonder if Games Workshop have been able to confirm how many customers they've gotten through their video games as well.
For a while I was running 5e games for strangers through my local Meetup, and I ran into plenty of people who came to tabletop D&D via Baldur's Gate 3.
 

log in or register to remove this ad



Transcript and the article I saw lead with Magic. It was apparently a massive quarter.
After looking into it for a few minutes, I guess actually Hasbro only receives royalties on Monopoly Go and not the full game revenue. Monopoly Go makes WAY more money than MTG but Hasbro only gets a fraction so yeah that checks out
 




Yes, but it's true. That every edition has outsold the one prior.

You'd like more detail, but . . . does WotC owe us, the fans, specific numbers and breakdowns?

I don't get the pushback on the investor and marketing speak in these types of threads.

WotC is telling their investors the truth, but certainly "spinning" it in the most positive light. That's what you do when you are talking to shareholders.

D&D is fine, its selling better than ever before. I'm good with that level of detail.

Look, I'm not pushing back. If you read everything I've said, you note that I actually like 5.5e.

I also didn't make comment about whether 5.5e's sale was amazing, or not in-line with "expectations" (whatever they might be), or anything else.

I just wanted to reiterate (in what I thought was a relatively humorous and benign manner) that this is what they always say, always have said, and always will say. I suppose that there may come a time when there is no possible way to spin things in order to make that claim, but I doubt it. Spinners gonna spin.

Without actual metrics, you can't make any judgments about what they are saying. None. Nada. I didn't want to bring up past announcements, because that gets into people arguing about editions, and I don't want to go there- but there's a few things to remember...

1. When talking to shareholders, you almost always find a way to put things in the best possible light - if you've ever watched Iger in the past (Disney) you know exactly what I'm talking about. He would announce a decline in park attendance as evidence of how Disney fans continue to flock to the parks despite blah blah blah .... (with blah blah blah usually being massive price increases).

2. How are they measuring "strongest-ever?" Is it a like-to-like comparison? For example, is it just PHB-PHB from the point of release? Is it in terms of dollar value or units sold? If it is units sold, is it units to distributors, print runs, or actual purchases? If it is dollar value, does it adjust for inflation?

3. Do they adjust for population? The US population has increased by more than 50% since D&D was first introduced. Do they adjust for market share? In other words, what percentage of the "D&D market" or "TTRPG" market has purchased 5.5e?

4. Most importantly, how successful has it been compared to the a priori expectations of the company and the investment? This is the 3.5e / 4e reminder. Both of those "editions" (or half editions) were ... said to be very successful, the mostest successful, but we later learned that they weren't as successful as the company had hoped (with 3.5e quickly leading to 4e, and 4e quickly leading to 5e). Meanwhile, 5e had almost no internal expectations (nada, zilch) and overperformed expectations immensely.


Look, I get it- I like 5.5e. I am not pushing back on it. I think it has been successful, and I wish people would stop reflexively hating on it.* But this specific announcement is pretty meaningless, and unless and until we get better actual metrics** it's only fodder for people to argue the positions that they already know to be true.***



*If you don't like it, or don't like D&D, or don't like Hasbro, or whatever ... that's cool. But define your life by what you love, not by what you hate.


**Riggs has done a good job getting some of the sales numbers for TSR-era D&D and 4e, for example, and Peterson has done a great job ferreting out the overall TSR financial numbers from 1974-1985.


***Zeno: Look, 5.5e is a complete success! They just said so!

Achilles: They're lying liars, Zeno. They are probably just comparing the sales numbers in a village in Albania where they are giving away 5.5e for free so that we forget how they screwed us with the OGL.

Zeno: What are you talking about? They can only spin a little on an investor call?

Achilles: Why are you the face for Hasbro's capitalist boots?

Zeno: Capitalist boots?

Achilles: Yo mama wears capitalist boots.
 

Look, I'm not pushing back. If you read everything I've said, you note that I actually like 5.5e.

I also didn't make comment about whether 5.5e's sale was amazing, or not in-line with "expectations" (whatever they might be), or anything else.

I just wanted to reiterate (in what I thought was a relatively humorous and benign manner) that this is what they always say, always have said, and always will say. I suppose that there may come a time when there is no possible way to spin things in order to make that claim, but I doubt it. Spinners gonna spin.

Without actual metrics, you can't make any judgments about what they are saying. None. Nada. I didn't want to bring up past announcements, because that gets into people arguing about editions, and I don't want to go there- but there's a few things to remember...

1. When talking to shareholders, you almost always find a way to put things in the best possible light - if you've ever watched Iger in the past (Disney) you know exactly what I'm talking about. He would announce a decline in park attendance as evidence of how Disney fans continue to flock to the parks despite blah blah blah .... (with blah blah blah usually being massive price increases).

2. How are they measuring "strongest-ever?" Is it a like-to-like comparison? For example, is it just PHB-PHB from the point of release? Is it in terms of dollar value or units sold? If it is units sold, is it units to distributors, print runs, or actual purchases? If it is dollar value, does it adjust for inflation?

3. Do they adjust for population? The US population has increased by more than 50% since D&D was first introduced. Do they adjust for market share? In other words, what percentage of the "D&D market" or "TTRPG" market has purchased 5.5e?

4. Most importantly, how successful has it been compared to the a priori expectations of the company and the investment? This is the 3.5e / 4e reminder. Both of those "editions" (or half editions) were ... said to be very successful, the mostest successful, but we later learned that they weren't as successful as the company had hoped (with 3.5e quickly leading to 4e, and 4e quickly leading to 5e). Meanwhile, 5e had almost no internal expectations (nada, zilch) and overperformed expectations immensely.


Look, I get it- I like 5.5e. I am not pushing back on it. I think it has been successful, and I wish people would stop reflexively hating on it.* But this specific announcement is pretty meaningless, and unless and until we get better actual metrics** it's only fodder for people to argue the positions that they already know to be true.***



*If you don't like it, or don't like D&D, or don't like Hasbro, or whatever ... that's cool. But define your life by what you love, not by what you hate.


**Riggs has done a good job getting some of the sales numbers for TSR-era D&D and 4e, for example, and Peterson has done a great job ferreting out the overall TSR financial numbers from 1974-1985.


***Zeno: Look, 5.5e is a complete success! They just said so!

Achilles: They're lying liars, Zeno. They are probably just comparing the sales numbers in a village in Albania where they are giving away 5.5e for free so that we forget how they screwed us with the OGL.

Zeno: What are you talking about? They can only spin a little on an investor call?

Achilles: Why are you the face for Hasbro's capitalist boots?

Zeno: Capitalist boots?

Achilles: Yo mama wears capitalist boots.
They did give us that solid metric a month in: the 2024 PHB had, within that month, sold as much as the first two years of the 2014 PHB, which at 23 months we had been told the 2014 PHB had outsold the lifetime sales of the 3E, 3.5, and 4E PHBs. So we know that 2024 is, in absolute terms, the second best selling edition produced by AotC...even if they stopped selling PHBs 1e months ago which they have not. So that's one solid indicator, 2024 is already in absolute terms sold more than

But what we learned from this recent one whi h is probably way more important to Hasbro: D&D Beyond active users are up 50% since the 2024 launch. That's what they actually want, users, not book sales.
 

Look, I'm not pushing back. If you read everything I've said, you note that I actually like 5.5e.

I also didn't make comment about whether 5.5e's sale was amazing, or not in-line with "expectations" (whatever they might be), or anything else.

I just wanted to reiterate (in what I thought was a relatively humorous and benign manner) that this is what they always say, always have said, and always will say. I suppose that there may come a time when there is no possible way to spin things in order to make that claim, but I doubt it. Spinners gonna spin.

Without actual metrics, you can't make any judgments about what they are saying. None. Nada. I didn't want to bring up past announcements, because that gets into people arguing about editions, and I don't want to go there- but there's a few things to remember...

1. When talking to shareholders, you almost always find a way to put things in the best possible light - if you've ever watched Iger in the past (Disney) you know exactly what I'm talking about. He would announce a decline in park attendance as evidence of how Disney fans continue to flock to the parks despite blah blah blah .... (with blah blah blah usually being massive price increases).

2. How are they measuring "strongest-ever?" Is it a like-to-like comparison? For example, is it just PHB-PHB from the point of release? Is it in terms of dollar value or units sold? If it is units sold, is it units to distributors, print runs, or actual purchases? If it is dollar value, does it adjust for inflation?

3. Do they adjust for population? The US population has increased by more than 50% since D&D was first introduced. Do they adjust for market share? In other words, what percentage of the "D&D market" or "TTRPG" market has purchased 5.5e?

4. Most importantly, how successful has it been compared to the a priori expectations of the company and the investment? This is the 3.5e / 4e reminder. Both of those "editions" (or half editions) were ... said to be very successful, the mostest successful, but we later learned that they weren't as successful as the company had hoped (with 3.5e quickly leading to 4e, and 4e quickly leading to 5e). Meanwhile, 5e had almost no internal expectations (nada, zilch) and overperformed expectations immensely.


Look, I get it- I like 5.5e. I am not pushing back on it. I think it has been successful, and I wish people would stop reflexively hating on it.* But this specific announcement is pretty meaningless, and unless and until we get better actual metrics** it's only fodder for people to argue the positions that they already know to be true.***



*If you don't like it, or don't like D&D, or don't like Hasbro, or whatever ... that's cool. But define your life by what you love, not by what you hate.


**Riggs has done a good job getting some of the sales numbers for TSR-era D&D and 4e, for example, and Peterson has done a great job ferreting out the overall TSR financial numbers from 1974-1985.


***Zeno: Look, 5.5e is a complete success! They just said so!

Achilles: They're lying liars, Zeno. They are probably just comparing the sales numbers in a village in Albania where they are giving away 5.5e for free so that we forget how they screwed us with the OGL.

Zeno: What are you talking about? They can only spin a little on an investor call?

Achilles: Why are you the face for Hasbro's capitalist boots?

Zeno: Capitalist boots?

Achilles: Yo mama wears capitalist boots.

Its the internet. Ive been talked a fascist and a liberal same person same post.

But yeah WotC statements are basically worthless. Latestest call isnt saying anything they didnt say 11 months ago.

I dont think theyre lying but theyre pushing the BS fairly hard.

I got bored once abd did some adjusting for inflation. Peak D&D 5E fastest about twice as long as peak TSR and did almost double the numbers.

Bookscan reveals that they had a couple more big sellers apart from core books and 1 more boxed set and the two player books.
Theres no TSR equivalent of those books. They had 3 big selling items vs 6 or 7.

We dont know what metrics theyre using though. Im 100% confident the 5E phb is biggest selling item ever probably followed by a starter set maybe Xanathars.

IDK if its a X2 or X4 multiplier. I dont think its X10. I think phb to phb is somewhere in that range or close to it and the original starter set is probably comparable to one or both the basic sets.
Theres no TSR equivalent of Xanathars, Tasha's, Strahd or HotDQ. That's just bookscan data alone (LMoP/KotBL are the equivalent eg biggest selling adventure).
 

Remove ads

Remove ads

Top