Magic: The Gathering Tops $600 Million in a Quarter for the First Time

Magic: The Gathering revenue reached $616.1 million in the third quarter of 2026, up 34% from $459.4 million a year earlier and the first quarter above $600 million in the game's history, Hasbro reported on October 20, 2026. Hasbro credited the sales jump to The Hobbit and Reality Fracture. "With a Magic lineup that keeps building, we expect a strong finish to 2026 and continued growth in 2027," CEO Chris Cocks said in the release.

The Numbers

From Hasbro's results for the quarter ended September 27, 2026. Hasbro's Magic figure covers tabletop and digital revenue.

Magic: The Gathering, Q3 2026

• $616.1 million, up 34% from $459.4 million in Q3 2025

Magic: The Gathering, first nine months of 2026

• $1,630.9 million, up 34% from $1,217.7 million a year earlier

Wizards of the Coast and Digital Gaming segment, Q3 2026

• Revenue up 31% to $747.2 million
• Operating profit of $367 million, up 46%, a 49% operating margin, including a $7 million tariff refund benefit

Hasbro's 2026 outlook, raised

• Total Hasbro revenue now expected up 7% to 9% in constant currency, from 5% to 7% before

What Drove the Record

Hasbro's executives gave more detail on the October 20, 2026 earnings call, as reported by ICv2 on October 21 and in the call transcript:

The Hobbit

• Already the fourth best-selling Magic set ever, and the biggest prerelease for any Universes Beyond set

Reality Fracture

• Shipments beat expectations, and about $40 million of Magic sales Hasbro had expected in Q4, mostly Reality Fracture, landed in Q3 instead, CFO Gina Goetter said

Older sets

• Sales of backlist products grew faster than new releases, which Cocks read as new players from Universes Beyond sets staying with the game

More places to buy

• Magic is now in close to 40,000 doors, and Wizards Play Network stores are up about 38% to more than 13,000

Cocks put the growth in a wider frame: he said trading cards have become the number one category in toys and games. "And we see that as a generational structural shift and not just as kind of like a onetime thing," he said on the October 20 call, per ICv2.

What Comes Next

Hasbro expects a smaller Q4. Cocks said Magic will likely be down in the fourth quarter by a low to mid single digit percentage, because about $40 million of sales landed early in Q3 and some product moved into Q1 2027. Without those shifts, he said, Q4 would have grown about 8% to 10%. Our story on Reality Fracture's regional delays covers which products were delayed in which regions around its release.

2027 brings bigger product lineups. Each of Magic's six major 2027 sets will get a full product suite, with all the Commander decks and collectible products, Cocks said on the October 20 call. He said sets with the full lineup sell upwards of 50% more. Separately, Wizards is changing what goes inside its packs in 2027, and our guide to Magic's 2027 booster changes covers God Packs and the end of foil commons.

Our take: the backlist line matters most for collectors. New releases still bring in most of Magic's revenue, but backlist sales are growing faster, Cocks and Goetter said on the October 20 call, and 2026 backlist sales have already passed all of 2025. Cocks tied that to Universes Beyond newcomers going back to buy older sets, and Goetter named Foundations, Final Fantasy and The Lord of the Rings: Tales of Middle-earth as the biggest backlist sets in the quarter. That is demand reaching past the newest release into sets already on the shelf. For what the very top of the Magic market looks like, see our list of the most expensive MTG cards ever sold.

Where to Go From Here

Magic is one corner of a trading card market its own publisher now calls the biggest category in toys and games. If you want to collect real, vaulted cards, the Polkastarter marketplace gives you a free mystery pack when you sign up, and every Lootbox lists its contents, values, and chances before you open.

Details checked October 21, 2026. Figures are from Hasbro's third quarter 2026 results, and call remarks are from the October 20, 2026 call as reported by ICv2 and transcribed by MarketBeat. Nothing here is financial or investment advice. Polkastarter is not affiliated with Hasbro, Wizards of the Coast or the other companies named.

Sources

• Hasbro: Third Quarter 2026 Financial Results (8-K Exhibit 99.1), published October 20, 2026, accessed October 21, 2026
• ICv2: 'Magic' Sales Over $600 Million in Q3, published October 21, 2026, accessed October 21, 2026
• MarketBeat: Hasbro Q3 2026 earnings call transcript, published October 20, 2026, accessed October 21, 2026