Hasbro plans to continue focusing on entertainment and gaming – The Hollywood Reporter
After longtime CEO Brian Goldner passed away earlier this month, toy and entertainment company Hasbro said it plans to build even more on Goldner’s strategy of transforming the company. into a powerful player in entertainment and games.
Speaking during the company’s third quarter earnings call Tuesday morning, interim CEO Rich Stoddart cried Goldner, saying he was a “true visionary” who “completely changed the game [and] to believed in the power of a story ”, adding that during his tenure“company ttransformed his talent, his stratégy, its brands and its potential.
The central pillar of that pivot was what Goldner called Hasbro’s “Brand Blueprint” strategy, a strategy that would push the company further into games and entertainment. The company said the “highlight” of this strategy was the acquisition of production company Entertainment One.
Stoddart said Tuesday that the company’s plan for the future would be to “overload the plan and capitalize on the strong momentum of the company.”
“Commitment and trust in the brand model as a strategy for the future is more important than ever before,” he added.
Stoddart then used what he called “brianism”: “It is not a point of arrival, but a point of departure. This is the start of the project that is proving its worth around the world, ”said Stoddart.
He also added that Hasbro’s board was “on track” in finding Goldner’s successor as permanent CEO. “Our Board of Directors is and always has been actively engaged in succession planning.
In the third quarter, Hasbro’s profits were driven by its entertainment and games divisions, as its consumer products division continues to face “a disruption in the supply chain, including limited capacity and congestion. ports, ”the company said.
Its entertainment division, led by eOne, had revenue of $ 327 million, up 76% from the previous year, when the pandemic still disrupted television and film productions. Profits amounted to $ 42.1 million. The results were driven by deliveries of The recruit and Yellow jackets, as well as the beginnings of My little pony: a new generation on Netflix and child rate Peppa Pig and PJ Masks.
EOne CEO Darren Throop said on the call that his company is developing more than 30 Hasbro brands in potential content for film and television, with established intellectual property like Transformers set to feature in new movies, series. activities and other projects.
“You’ll see it across the Hasbro portfolio,” Throop said.