Dungeons and Dragons has come a long way since its debut 50 years ago.
After decades spent at the pinnacle of nerd culture, the popular board game has broken into the mainstream, thanks in part to the success of the massive Netflix show “Stranger Things” and the best-selling video game “Baldur's Gate 3.”
In fact, D&D publisher Wizards of the Coast has seen its annual revenue grow from $761 million in 2019 to $1.17 billion as of October 2024. The company estimates that 85 million people have played the game since it was first introduced in 1974 — a number equivalent to… Population of Germany.
“If you had told me that number when I was younger, I would have laughed,” Jess Lanzillo, who heads up the game's design and development, told CNBC Make It. “My mind would have been blown.”
But 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 earned nearly $110,000 in 2024 from hosting D&D nights.
The popularity of in-person events helped turn around the fortunes of the struggling company, thanks in part to opening just before coronavirus lockdowns began. About 50% of the store's revenue comes from D&D.
“Dungeons and Dragons has really saved the business,” says owner Whitney Wolfe.
Whitney Wolfe (center) owns Last Place on Earth, a board game café in Brooklyn that hosts popular Dungeons & Dragons nights.
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The game's popularity has spawned streaming shows and podcasts where people play D&D campaigns in real time. One show, “Critical Role,” generated millions in tips and advertising revenue.
It became so popular, in fact, that it was able to raise more than $11 million on Kickstarter to fund an animated TV pilot. This show “The Legend of Vox Machina” will soon premiere its fourth season on Amazon Prime.
Another “Dimension 20” show at the popular Madison Square Garden sold out, with fans paying an average of $119 to watch the comedians play the game on stage.
“What really gives (D&D) a leg up is the intellectual property created outside of the Wizards of the Coast system and the Hasbro ecosystem,” says Dr. Emily Friedman, a professor at Auburn University.
For the full story of how Dungeons and Dragons became a global phenomenon, watch the CNBC Make It video.
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