50 years in, Dungeons & Dragons is still popularand profitable [Video]

Dungeons and Dragons has come a long way since making its debut 50 years ago.

After decades spent as the pinnacle of nerd culture, the popular tabletop game has broken into the mainstream thanks in part to the success of Netflix’s mega-hit show “Stranger Things” and the best-selling videogame “Baldur’s Gate 3.”

Indeed, 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 figure equivalent to the population of Germany.

“If you would have told me that number when I was younger, I would have laughed,” Jess Lanzillo, who heads the game’s design and development, tells CNBC Make It. “My mind would have been blown.”

But Wizards of the Coast isn’t the only business that has …