In a recent investor call, Hasbro CEO, Chris Cocks, shared updates on the continued growth of the Magic: The Gathering brand under Wizards of the Coast (WotC) in Q3 of 2025, as well as details on an upcoming Secret Lair collaboration with Netflix’s KPop Demon Hunters, and more.
According to Cocks, Magic: The Gathering over-performed once again in Q3 2025, bringing in a staggering $459.4M in sales – a 55% increase compared to Q3 last year ($296.3M). Cocks attributes the growth to the ongoing success of Magic’s tabletop and digital set releases, namely Edge of Eternities and Marvel’s Spider-Man, as well as “continued strength in backlist titles and Secret Lair.”
Speaking of Universes Beyond and Secret Lair, one of the major announcements to come from the investor call was the confirmation of a Magic: The Gathering Secret Lair collaboration with Netflix for the wildly popular animated film — KPop Demon Hunters.
Released on Netflix earlier this year, KPop Demon Hunters has since exploded in popularity, becoming the most watched Netflix film of all time with over 236 million views (as of August 2025) and received high praise in nearly every artistic category.
Likening the collaboration’s potential to that of Secret Lair x SpongeBob SquarePants – one of the best selling Secret Lair drops ever – Cocks joked “If we can figure out how to get people jazzed up about SpongeBob SquarePants collectible cards, I’m pretty sure we can do it with one of the biggest movies of all time…”.
While no official title or release date for the drop was provided in the call, fans can expect Secret Lair x KPop Demon Hunters sometime next year.
For the broader Wizards of the Coast and Digital Gaming segments, Hasbro reported a profit of $572.0M, marking a 42% increase from this time last year ($404.0M). While WotC’s overall growth may be slightly slower than its top-performing brand, Cocks points to “…event attendance, search metrics, MagicCon participation, sales in new channels like mass and convenience, and player growth [being at] record levels…”, suggesting WotC should have no problem keeping pace with Magic going forward.
For more information, read the complete Hasbro Third Quarter 2025 Earnings Conference Call.
