Dungeons and Dragons has come a long way since its debut 50 years ago.
After decades spent as the pinnacle of nerd culture, the popular board game has broken into the mainstream, thanks in part to the success of the mega-hit Netflix series “Stranger Things” and the best-selling video game “Baldur's Gate 3.”
Indeed, D&D publisher Wizards of the Coast saw its annual revenue grow from $761 million in 2019 to $1.17 billion in October 2024. The company estimates that 85 have played the game since it first launched in 1974 million people – a number equal to the population of Germany.
“If you told me that number when I was younger, I would have laughed,” Jess Lanzillo, who leads the game's design and development, tells CNBC Make It. “My mind would be blown.”
However, Wizards of the Coast isn't the only company to benefit from D&D's newfound mainstream success. Brooklyn game store The Last Place on Earth made nearly $110,000 in 2024 by hosting D&D nights.
The popularity of in-person events helped turn around the struggling company's fortunes, thanks in part to opening just before Covid-19 lockdowns began. About 50% of the store's revenue comes from D&D.
“Dungeons and Dragons really saved the business,” says owner Whitney Wolfe.
Whitney Wolfe (center) is the owner of Last Place on Earth, a Brooklyn board game café that hosts popular Dungeons & Dragons nights.
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The game's popularity has been fueled by a cottage industry of streaming shows and podcasts in which people play D&D campaigns in real time. One show, “Critical Role,” made millions in tips and advertising.
It became so popular that it managed to raise over $11 million on Kickstarter to fund an animated TV pilot. “The Legend of Vox Machina” will soon have its fourth season on Amazon Prime.
Another show, “Dimension 20,” sold out at the iconic Madison Square Garden, with fans shelling out an average of $119 to watch the comedians perform on stage.
“What really makes (D&D) powerful,” says Auburn University professor Dr. Emily Friedman, “is the intellectual property generated outside of the Wizards of the Coast and Hasbro ecosystems.”
For the full story of how Dungeons and Dragons became a global phenomenon, watch the CNBC Make It video.
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