Nintendo is experiencing a period of exceptional stability, but experts warn that the company's main strength, its iconic characters, could become a long-term risk.
With Nintendo Switch and Nintendo Switch 2, which launched with 17 million consoles sold, the brand still relies on Mario, Zelda, and Pokémon.
Sales are based on historical franchises: Pokémon Scarlet and Pokémon Violet set records on Switch, and Mario Kart World became the best-selling on Switch 2. Nintendo is also developing franchises outside of games – theme parks, movies and merchandise, although direct revenue from these assets accounts for less than 3% of annual revenue.
President Shuntaro Furukawa emphasizes the strategy: to combine original entertainment, audience expansion, and long-term relationships with consumers, using nostalgia and accessibility.
Experts warn of the risk of repetition: Serkan Toto, head of Kantan Games, noted that in 10–20 years, Mario, Zelda, and Pokémon may lose relevance. Nintendo has already shown innovation, the Splatoon series, new projects like Drag x Drive and Donkey Kong Bananza, but creating new successful AAA franchises requires large investments and remains risky.
Analysts' conclusion: relying only on nostalgia is possible, but for sustainable growth, new ideas, characters, and worlds are needed to support and eventually replace Nintendo's iconic heroes.
