D&D “Really Under-monetized” Says Wizards of the Coast President
At a recent virtual fireside chat for investors, Wizards of the Coast president Cynthia Williams discussed the future of the Dungeons & Dragons franchise and its potentially ability to generate more revenue while appealing to new and existing fans.
“D&D has never been more popular, and we have really great fans and engagement. But the brand is really under-monetized,” Williams told investors during the call. She then pointed to market data from the recently acquired D&D Beyond online platform which showed that the vast majority of purchases were from Dungeons Masters rather than players, despite the fact that DMs make up just 20% of the game’s existing user base.
Williams also noted that D&D Beyond – which Wizards purchase in April 2022 for over $146 million dollars – would remain a major focus for Wizards of the Coast going forward, and discussed the possibility of further monetizing the platform with items similar to some of the downloadable content found in video games.
Notably, D&D Beyond does currently offer some of these micro transactions, with the ability to purchase items such as specialty dice and avatars, but based on Williams’ commentary it’s likely we can expect to see more in the future. In the meantime, Williams noted that D&D Beyond will also remain a cornerstone of player outreach and will continue to feature a range of exclusive content, such as the recent release of Dragonlance Monstrous Compendium, which was made available solely online to D&D Beyond subscribers.
Hasbro CEO Chris Cocks, who was also on the call, added that D&D has become a major pop culture icon, with brand recognition on par with major franchises like Lord of the Rings. Yet Cocks also noted that until recently the brand itself has been limited primarily to tabletop games. Cocks then elaborated on plans to expand the D&D intellectual property into film, television and video games, including the upcoming film Dungeons & Dragons: Honor Among Thieves movie (slated for release in theatres in March 2023) and the Baldur’s Gate 3 video game (slated for release on PC in August 2023).
The focus on multi-media is a key part of Hasbro’s so-called “Brand Blueprint 2.0” business model, which involves growing franchises through a mix of entertainment and products. The idea is to create film and television project to drive demand for products, which in turn spurs additional films and television shows, which in turn drive demand for even more products.
Williams comments about D&D being “under monetized” may have more than a few fans feeling apprehensive and highlights the ongoing challenge for Wizards of the Coast when it comes to generating profits and satisfying the needs of new and existing players. In the meantime, it remains to be seen just what this will mean for the future of D&D. We’ll be keeping a close eye on this in the days ahead.
You can listen to the full audio recording of the investors virtual fireside chat here (please note, you’ll need to sign up for access).
More D&D News Coverage
For more from the world of Wizards of the Coast, visit our D&D News page.
Cameron Nichols is a Senior Editor who lives in Boston, Massechustes, and has been playing D&D since the early 90s, when he was introduced by his older brother and cut his teeth on AD&D 2nd Edition. Since then he’s played virtually every RPG he could get his nerdy little mitts on (including a weird Goth phase in the early 2000s when he rocked Vampire: The Masquerade pretty hard). His favorite D&D campaign setting is the Forgotten Realms and his favorite character to play was a Half-Orc Barbarian named Grug (who was unfortunately devoured by a gelatinous cube).
