During a recent investor's call, Hasbro Inc HAS revealed Baldur's Gate 3, the popular 2023 role-playing video game developed and published by Larian Studios, generated $90 million in revenue since its official release in 2023, thanks to a licensing deal.
According to IGN, Hasbro CEO Chris Cocks, stated: "Our refreshed leadership team is bringing innovative new products to our fans."
"At the same time, we are taking the necessary actions to transform Hasbro and deliver long-term profitable growth starting with driving significant profit growth across our segments in 2024 and building momentum in our innovation pipeline between now and 2025," Cocks added.
Hasbro acknowledged Wizards' revenue might decrease by 3%-5% in 2024 due to the significant growth spurred by Baldur's Gate 3 and other successful ventures like MAGIC: The Gathering's Lord of the Rings set.
Despite the success of Baldur's Gate 3, Hasbro's overall financial state appears less robust, with a 15% revenue decline and a $1.5 billion loss in 2023. The company laid off approximately 6,500 workers in 2023, aiming to save up to $300 million annually by 2025.
Cocks remained optimistic, attributing Hasbro's wins in 2023 to its "Fewer, Bigger, Better" strategy. He was positive about the company's future, noting: "The work we have done under the hood to strengthen our balance sheet, upgrade our planning and right-size our inventory are a strong foundation to build from."
Baldur's Gate 3's success is sometimes credited to the romance feature with a Druid in bear form and a full nudity option.
Read Next: Romance With A Bear And Full Nudity May Have Contributed To This D&D Game's Success
Photo: MardeFondos on Shutterstock.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
