Hasbro Q3 2020 Earnings: MTG Arena on Mobile Delayed Until Early 2021
Hasbro is the parent company of Wizards of the Coast, and today they reported their earnings for the third quarter of 2020 as part of the usual public company obligations. If you are interested in the finance side of things and its implications on Magic: The Gathering as a whole, we recommend you check out the full report below:
- Hasbro Third Quarter 2020 Earnings Conference Call
- Hasbro Reports Third Quarter 2020 Financial Results
- Q3 2020 Investor Presentation
- Hasbro Q3 2020 Earnings Management Remarks
A major takeaway from the call was that MTG Arena on mobile has been delayed from the initial announcement of Q4 2020 to early 2021:
To further long-term growth, we are investing to drive digital gaming experiences for the Wizards of the Coast brands. Magic: The Gathering Arena will launch on mobile in early 2021, as we finetune the game this year.
This news comes after numerous issues arising from the latest monthly patch, as well as a lack of improvements to the client other than the usual card and cosmetic additions to the game.
Other Magic: The Gathering related highlights include:
- Magic as a whole delivered strong third quarter results and revenue was up double digits for the first nine months of the year.
- The release of Double Masters and Zendikar Rising drove the year-over-year gains in the quarter, including growth in analog and digital play.
- Magic: The Gathering revenue up 21% accounting for lower expenses compared to last year.