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Anyone around the thirty to forty age group, and possibly beyond, will have grown up with Hasbro’s products. One of the most well-known multinational entertainment companies on earth, it has a huge range of properties under its belt. Based in Pawtucket, Rhode Island, United States, it produces and sells a wide range of items and licenses them to television and film.
Yet with retro franchises being hot property and the market for adult collectors being huge, Hasbro is still suffering from declining share prices and a lack of confidence from the wider business market. For the general television fan, many of its shows will go unannounced and under the radar. So why hasn’t Hasbro managed to refocus its business strategy and conquer the television market for mature audiences?
Hasbro on Television
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Hasbro Studios, the arm of the company in charge of television and films, now let third parties create their content. At the end of last year, their TV brand entertainment arm, eOne, was put up for sale. Hasbro stated that it was more cost-effective to outsource their properties. However, it had only been purchased in 2019 to the tune of $4 billion.
A quick look at their most popular output on IMDB shows a lack of focus on the adult and mature audience. While their properties like Ouija and Stephanie have done well in the movie horror genre, all of their content for television has little to capture those looking for action and adventure.
Other Revenue Streams
The company has not neglected its mature audiences altogether. Many of its properties are now licensed to iGaming developers, who have been particularly innovative with their approach to progressive jackpot slots and live bonus rounds. Monopoly has mainly been the focus of this, as a well-known game brand. The combination of huge jackpots and a popular franchise that most people recognise has resulted in numerous titles such as Monopoly Lunar New Year and Monopoly Grand Hotel.
The problem is that often, this is where it ends. While a lot of games are being created on nostalgic franchises, Hasbro has never strayed far from solely leasing Monopoly. It was only this year that some of its other huge franchises got their own slot games, showing that they are extremely precious with what they own.
Why Should Hasbro Branch Out?
All signs indicate that the market for more mature content from the company is there. Adult toy buyers now account for 60% of the industry’s growth. Added to this is that mature programming also has undergone a massive resurgence, along with a healthy dose of nostalgia. The list of Netflix’s most popular programmes last year was filled with original content that tapped into the retro niche.
It may just be that Hasbro has its mind focused squarely on being a family brand. Yet its forays into other entertainment forms contradict this. With share prices falling and disarray in its programming, it may be time for Hasbro to try something new. Who wouldn’t want a Dungeons and Dragons show in the vein of Game of Thrones?