Dungeons & Dragons has come a long way since its debut 50 years ago.
After spending decades as the pinnacle of nerd culture, the popular tabletop game has gone mainstream thanks to the success of Netflix’s mega-hit show “Stranger Things” and the best-selling video game “Baldur’s Gate 3.”
Indeed, D&D publisher Wizards of the Coast expects annual revenue to grow from $761 million in 2019 to $1.17 billion by October 2024. The company estimates that 85 million people have played the game since it was first introduced in 1974 – a figure equal to the population of Germany.
“If you had told me that number when I was younger, I would have laughed,” Jess Lanzillo, the game’s head of design and development, told CNBC Make It. “I must have lost my mind.”
But Wizards of the Coast isn’t the only business that has benefited from D&D’s new mainstream success. Brooklyn game shop The Last Place on Earth made nearly $110,000 from hosting D&D Nights in 2024.
The popularity of in-person events helped turn around the fortunes of a business that was struggling after opening just before the Covid lockdown began. About 50% of the shop’s revenue comes from D&D.
“Dungeons & Dragons has 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 helped by a cottage industry of streaming shows and podcasts where people play D&D campaigns in real time. One of the shows, “Critical Role”, has made millions in tips and advertising revenue.
In fact, it has become so popular that it was able to raise over $11 million on Kickstarter to fund an animated TV pilot. That show, “The Legend of Vox Machina,” will soon be in its fourth season on Amazon Prime.
Another show, “Dimension 20” sold out the iconic Madison Square Garden, with fans spending an average of $119 to see the comedians play on stage.
“What really gives (D&D) the legs is the intellectual property that originates outside Wizards of the Coast and the Hasbro ecosystem,” says Dr. Emily Friedman, a professor at Auburn University.
For the full story of how Dungeons & Dragons became a global phenomenon, watch CNBC Make It’s video.
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