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Deep dive

Against Magic: the same size once both are counted at the publisher

The usual comparison sets what shoppers spend on Pokémon against what Hasbro books for Magic. This page puts both on the publisher’s side and adds the rest of the field.

On this page4 parts
  1. The figure that makes Pokémon look far bigger is counted at the till
  2. At list price, two estimates of Western Pokémon cards overlap, and Magic sits in the same range
  3. At the publisher’s line the two overlap, and every other game is capped below them
  4. What it adds up to

Pokémon is usually said to dwarf Magic: The Gathering, and at the shop till it does. Western shops sold $2.05–3.87bn of Pokémon cards at list price in 2025, on our estimate, against the $1.72bn Hasbro reports for Magic worldwide. But those are different measures. The publisher keeps about half of the list price, which leaves Pokémon’s side with $0.66bn to $1.82bn, and we estimate Magic earns $1.12–1.55bn in the same markets. Counted the same way the two are about the same size, and nothing else is close: Yu-Gi-Oh! is capped at $0.63bn.

The figure that makes Pokémon look far bigger is counted at the till

The number most often quoted for Pokémon is Circana’s $2.5bn of US sales in 2025, up 87% in a year, which made it the country’s top toy property. It counts what shoppers paid, for every Pokémon toy, with no split for cards. Magic’s $1.72bn, itself up 59.5%, is what Hasbro booked after distributors and shops took their share. Setting one beside the other compares shoppers’ spending with a publisher’s revenue. Fig. 1 shows the shoppers’ side.

Fig. 1

Counting its cards, Pokémon was America’s top-selling toy brand in 2025, up 87% to about $2.5 billion

US retail sales of all Pokémon toys, trading cards included, $ billion, calendar years, from Circana. Shoppers’ spending, with no split for cards.

Tap the chart to read its valuesUS Pokémon toys–
Built from .
Show the numbers
YearUS retail sales of all Pokémon toys, trading cards included, $bnSource
2024
2025

US retail sales of all Pokémon toys, trading cards included. Circana’s estimate of US register sales, up 87% in 2025; the 2024 figure is implied from that rise. Circana gives no split for cards.

At list price, two estimates of Western Pokémon cards overlap, and Magic sits in the same range

We size the Western card line two ways. The first starts from Circana’s tills, assumes cards are 60–85% of Pokémon toy sales, and adds Canada and Europe, which gives $2.05–3.87bn. The second starts from the cards TPC prints, takes those not sold in Japan, assumes most go West and prices them at list, which gives $1.41–2.59bn. They overlap at $2.05–2.59bn.

Grossed up to shop prices the same way, Magic’s Western sales come to $1.77–3.02bn. The two ranges cover much the same ground. ICv2, a trade publisher, ranks Pokémon first overall and in mass-market shops, and Magic first in hobby shops.

Fig. 2

Two estimates of Western Pokémon card sales overlap at $2.1 to 2.6 billion a year

Estimated value of Pokémon cards sold in North America and Europe at list price, 2025, $ billion, built from shop sales and from cards printed.

  • Estimated range
  • Where both could be right
Tap a row to read its valuesRange–Overlap–
Built from .
Show the numbers
BuildEstimated range, $bnWhere both could be right, $bnSource
Counting what shops sold (2.05–3.87)–
Counting cards printed (1.41–2.59)–
Overlap – (2.05–2.59)

Estimated range. Both are our derived ranges, at US-list-price-equivalent dollars for North America and Europe, not what the publisher books. Shop sales: Circana’s US toy figure times an assumed 60–85% card share, plus Canada and Europe. Cards printed: ex-Japan print, 60–85% of it going West, at $0.449 a card times a price factor of 1.0–1.3.

Where both could be right. An overlap of two wide ranges, not a convergent estimate.

At the publisher’s line the two overlap, and every other game is capped below them

TPC’s Western arm keeps about 46–49% of list price; how that share is built up by route is on Trading cards. At that share the print estimate gives TPC $0.66–1.22bn of Western card revenue and the shelf estimate $0.96–1.82bn. Against Magic’s Western $1.12–1.55bn, Pokémon is anywhere from 0.43 times Magic’s size to more than one and a half times it. The channel explains little of any difference between the two. Wizards of the Coast kept 53% of list on its direct sales to shops in 2018, a little above TPC’s blended share.

A second comparison needs no regional guess. Against Hasbro’s filed worldwide figure, which also counts Magic’s digital game, TPC’s whole card line, Japan included, is 1.03–1.22 times Magic, and its cards outside Japan are 0.64–0.83 times.

The rest of the field is capped below both. Konami’s Western companies bound Yu-Gi-Oh! at $0.63bn, Bandai’s overseas toy and hobby sales bound ONE PIECE at $0.30bn, and Lorcana is an estimated $0.10–0.19bn worldwide.

Fig. 3

Only Magic is of Pokémon’s size among Western card games

Estimated 2025 card revenue to the publisher in North America and Europe, $ billion. Lorcana and the Magic dot are worldwide.

  • Pokémon, estimated range
  • Other games, estimated range
  • Ceiling: no more than
  • Magic worldwide, reported by Hasbro
  • Estimate
Tap a row to read its valuesPokémon–Estimate–Ceiling–Magic worldwide–
Built from , and .
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Card gamePokémon, estimated range, $bnOther games, estimated range, $bnCeiling: no more than, $bnMagic worldwide, reported by Hasbro, $bnSource
Pokémon, from shop sales (0.96–1.82)–––
Magic: The Gathering – (1.12–1.55)–
Pokémon, from cards printed (0.66–1.22)–––
Yu-Gi-Oh! –––
ONE PIECE –––
Disney Lorcana – (0.10–0.19)––

Pokémon, estimated range. Pokémon: what the publisher keeps at a 47% share of list price, applied to the print count and to the shop-sales build.

Other games, estimated range. Magic: 65–90% of Hasbro’s filed worldwide figure, our assumption. Lorcana is implied from Ravensburger’s results and is worldwide.

Ceiling: no more than. Ceilings only. Yu-Gi-Oh!: Konami’s US and European revenue less its gaming segment. ONE PIECE: Bandai’s toys and hobby revenue outside Japan, which leaks because exported cards count in Japan.

Magic worldwide, reported by Hasbro. The only filed publisher figure among these games.

What it adds up to

Circana’s US count for 2026 and Hasbro’s full-year Magic revenue are both due in early 2027.

The records

24 numbers on this page, in the order they appear: 1 filed, 4 reported and 19 estimates. Open any grade for its source.

NumberWhat it isSourceGrade
$2.05–3.87bnPokémon cards in North America and Europe at list price, 2025, shelf estimate2025 shelf vs year to March 2026 printOur calculation
$1.72bnMagic: The Gathering net revenue worldwide, Hasbro annual report, 2025FY2025 (Dec)Hasbro, Inc. / SEC EDGAR
$0.66bnTPC’s Western card revenue, low end of the print-based estimate2025 / TPC year to February 2026Our calculation
$1.82bnTPC’s Western card revenue, high end of the shelf-based estimate at a 47% share of list2025 shelf vs year to March 2026 printOur calculation
$1.12–1.55bnMagic’s Western revenue, estimated at 65–90% of the filed worldwide figure2025 / TPC year to February 2026Our calculation
$0.63bnCeiling on Western Yu-Gi-Oh! revenueyear to March 2026Our calculation
$2.5bnCircana: US sales of all Pokémon toys, cards included, 20252025Circana
87%Circana: growth in US Pokémon toy sales, 20252025The Toy Association / Circana
59.5%Growth in Magic’s net revenue, 20252025 (Hasbro) vs TPC year to February 2026Our calculation
60–85%Assumed card share of Circana’s Pokémon toy sales2025Our calculation
$1.41–2.59bnPokémon cards in North America and Europe at list price, print estimateyear to March 2026 print; TPC year to February 2026Our calculation
$2.05–2.59bnRange where the shelf and print estimates agree2025 shelf vs year to March 2026 printOur calculation
$1.77–3.02bnMagic’s Western sales at retail equivalent, estimate2025 / TPC year to February 2026Our calculation
46–49%Share of list price that reaches TPC’s Western arm, blended, central estimateTPC year to February 2026Our calculation
$0.66–1.22bnTPC’s Western card revenue, print-based estimate at a 47% share of list2025 / TPC year to February 2026Our calculation
$0.96–1.82bnTPC’s Western card revenue, shelf-based estimate at a 47% share of list2025 shelf vs year to March 2026 printOur calculation
0.43Pokémon’s Western card revenue over Magic’s, low end2025 / TPC year to February 2026Our calculation
53%Wizards of the Coast’s direct price to shops as a share of list, 20182018Our calculation
1.03–1.22TPC’s whole card line over Magic’s worldwide revenue, estimate2025 (Hasbro) vs TPC year to February 2026Our calculation
0.64–0.83TPC’s card revenue outside Japan over Magic’s worldwide revenue, estimate2025 (Hasbro) vs TPC year to February 2026Our calculation
$0.30bnCeiling on ONE PIECE toy and hobby sales outside Japan, year to March 2025year to March 2024-year to March 2026 (Bandai Namco, Apr-Mar)Our calculation
$0.10–0.19bnLorcana revenue worldwide, 2025, estimate2022-2025Our calculation
49%Floor on the US share of Magic’s revenue, from Hasbro’s filing2025Our calculation
65–90%Assumed Western share of Magic’s worldwide revenue2025 / TPC year to February 2026Our calculation