Only one Magic: The Gathering set has sold better than MTG Lord of the Rings, Hasbro revealed in its Q2 2023 financial report on August 3. However, since Lord of the Rings: Tales of Middle Earth came out less than two months ago, Hasbro says it is still “tracking to be the biggest selling MTG set” of all time.
That meets with the business’s expectations for its Universes Beyond heavy hitter, as Wizards of the Coast president Cynthia Williams explained last year that the crossover ought to beat out regular MTG sets.
Which MTG set is outstripping it currently? It’s Modern Horizons 2, a set with powerful cards which like Lord of the Rings were designed for the Modern format. Lead designer Mark Rosewater confirmed this was Magic’s best selling set of all time as recently as October 2022.
Best selling set of all time for now, that is. In the Earnings Conference Call on Thursday, Hasbro CEO Chris Cocks explained that Lord of the Rings is expected to be an evergreen set with a long tail. He added that within seven months – before the calendar year is out – it’s anticipated to generate $200 million in revenue. In comparison, Cocks said that Modern Horizons 2 took two years to pass that figure.
Hasbro higher ups expressed confidence in the next slate of products on the 2023 MTG release schedule and believe that MTG Lord of the Rings will soon be its highest earning set. However, the dabbling in third party IPs may be doing mixed things for Wizards of the Coast’s actual profits.
In Hasbro’s Q2 report on its financial results, increased investments and “higher royalty expense associated with Universes Beyond” were two of the explanations given for Wizard’s substantial drop in profits of 37% year on year.
It’s a big week for Magic: The Gathering, with a bunch of already teased MTG products expected to be revealed at GenCon this weekend. Stay tuned if you’re not able to make it to the con – we’ll be covering the news as soon as it drops. While you’re here, why not have a gander at our MTG Arena codes and MTG Arena decks guides?