Let’s go back in time to the late ‘90s and early ‘00s. This was a time when most kids spent their days buying, collecting, and trading Pokémon cards. Pokémon cards were all the hype back then—this is known to most of us 90s kids. However, not much is known about the resurgence in popularity and the incredible value of Pokémon cards in the 2020s.
Pokémon was a big influence for me growing up. We had Pokémon comics in the school library, an animated series on TV, and most importantly—Pokémon cards. I would do anything my parents asked in exchange for a pack of these shiny cardboard pieces. I HAD to have them because all my friends did, and I wouldn’t be cool if I didn’t. I spent a lot of time collecting these cards throughout my childhood. I remember storing them in my collection album and the distinct memory of obtaining each one.
Despite the relevance of Pokémon to a younger generation, many of us don’t know the size and scale of the Pokémon business. Let me explain the ingenious business model of The Pokémon Company (TPC):
TPC is an entity owned by three companies: Nintendo (32%), Game Freak, and Creatures Inc. TPC’s valuation of USD 93 billion makes it the highest-grossing media franchise in the world, surpassing even Marvel Studios. (Source: Moneymint)
The Pokémon Company reported a revenue of $1.67 billion in 2023 (15% growth YoY) with a net profit of USD 350 million (up by 20% from the previous year). (Source: Serkan Toto)
Let’s look at the lifetime revenue of some of the largest media franchises: (Source: Wikipedia)
Pokémon has maintained its top spot over the years with its strong revenue streams. The Pokémon Company has four primary sources of revenue:
Strategic Licensing Agreements
Pokémon has multiple partners that it licenses its IP to, selling merchandise including toys, home décor, digital games, clothing, and accessories. The Pokémon Company has made USD 11.6 billion in lifetime sales of licensed goods.
The Top 10 Global Licensors of 2023:
Video Game Sales
Pokémon has sold over 480 million units of their games on Nintendo consoles over its lifetime, earning close to USD 30 billion. This makes the Pokémon games the second best-selling game franchise in the world, just behind Mario.
Top Selling Game Franchises:
Animated Series and Movies
Pokémon is widely known and extremely popular for its animated series and movies. The Pokémon movies have grossed over USD 1.15 billion in revenue over their lifetime. Fun fact: Pokémon has also released a live-action feature film featuring “Deadpool” star Ryan Reynolds. This movie went on to gross an impressive USD 428 million! (Source: The Numbers)
Pokémon Trading Card Game (TCG)
Pokémon sold a record-breaking 12 billion Pokémon cards in the fiscal year 2023-24, bringing the lifetime total to over 64 billion cards sold. The TCG business for Pokémon generated more than USD 850 million in the fiscal year 2023 (up by 137% compared to 2022). (Source: PokeBeach)
From the time the Pokémon games and animated series started gaining popularity, The Pokémon Company released the trading cards. These were mainly created as a game for kids to play against each other. These cardboard cards featured Pokémon and were available for purchase in sealed packs that could be opened. The odds of pulling a particular card were randomized, and the cards from every pack were different. This incentivized kids to open more packs in an attempt to “catch ‘em all,” which was also Pokémon’s trademark line. The cards also had a rarity symbol denoted at the bottom. The rarer cards had a holofoil effect, making them more attractive to collectors. The rarer cards were printed in smaller quantities and were therefore harder to obtain, contributing to their long-term value.
I spent a large part of my childhood collecting these cards and trading them with my friends to obtain all the cards of a particular series (known as a set). Pokémon set multiple records in Japan and western countries with record sales of the TCG, and all the kids were hooked. Since each set had a limited print run, the number of cards from every set was always finite. If a particular card was in high demand and had limited supply, its price slowly climbed up.
The demand for cards was mostly based on the following factors:
The value of the cards is dictated by demand and supply forces and the condition of the card. Cards that were well-preserved and in better condition (such as no scratches, well-centered, no edge wear) commanded more value in the market compared to their counterparts.
Companies like Professional Sports Authenticator (PSA) and Beckett Grading Services (BGS), which primarily graded baseball and sports cards, saw the potential of Pokémon cards and started grading them. These companies became household names for judging the condition of Pokémon cards.
Graded cards usually receive a number between 1 and 10, with 10 indicating pristine condition. These high-grade cards become highly sought after in the secondary market. The market for collectibles has grown from $360 billion in 2020 to $402 billion in 2024 and is projected to reach $1 trillion by 2032.
Resurrection of the Pokémon Scene
While the Pokémon TCG’s popularity was growing year by year, it saw a significant rise during the pandemic. YouTuber Logan Paul popularized Pokémon card collecting with his videos, which racked up millions of views. This reignited the enthusiasm and nostalgia of 90s kids, who now had higher disposable incomes to pursue their hobbies. The value of the cards quickly skyrocketed, fueled by the sudden increase in demand, with everyone wanting to collect the older sets with high nostalgia value.
Pokémon cards started reaching new heights, with some cards being sold for millions. Here are the top 5 recently sold Pokémon cards:
Pokémon series have been acquired by Hungama TV (wholly owned by Disney, in partnership with Jio Cinema) for viewers in India. It has performed significantly well with over 57 million viewers.
Analytics firm Parrot Analytics reported that the demand for Pokémon is 15.8 times the demand of the average TV series. Only 2.5% of all shows in this market reach this level of demand. The report also suggests that Pokémon has higher demand than 99.6% of all animation titles in India.
India is a growing market for the Pokémon series, seeing 81% of the demand of its origin country, Japan. There is definitely a large potential market to tap into. (Source: Parrot Analytics)
This year, Pokémon announced a strategic collaboration with Mukesh Ambani’s IPL franchise, the Mumbai Indians, to expand their viewership in India and reach the masses. There’s a lot more potential with merchandise and TCG, especially given that Hamleys, one of the world’s oldest toy retailers, is owned by Mukesh Ambani-backed Reliance Retail.
Future of Pokemon TCG in India
Pokémon TCG in India is slowly gaining popularity with popular YouTubers and streamers showcasing pack openings (often called Rip ‘N Ships) and displaying their personal collections live to the audience. I am part of Indian collectors’ communities on WhatsApp where we buy, sell, and trade Pokémon cards daily. The community is more than 200 members strong and actively growing every year. There’s something wholesome about making friends with fellow 90s kids who were as into Pokémon as I was, growing up. We have local meetups in Bangalore where we get together, trade
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