On the heels of renewing its US broadcasting agreement with Nickelodeon for its evergreen Power Rangers brand, Saban has announced that Hasbro will serve as the IP’s global master toy licensee as of April 1, 2019.

Saban Brands and Hasbro will design, produce and bring to market a variety of toys, games and role-play items inspired by the franchise. Hasbro will hold worldwide rights, excluding Japan and certain other Asian markets. Under the terms of the deal, Saban Brands will also give Hasbro the opportunity to initiate a purchase of the Power Rangers property, following an unspecified period of time after the April 2019 partnership takes effect.

Hasbro’s appointment comes one day after Saban announced that it was severing ties with longtime master toy partner Bandai as of April 2019. Bandai, which has held Power Rangers’ toy rights since the brand’s inception 25 years ago, will continue to support the series until that time with items based on the franchise’s current season, entitled Super Ninja Steel.

Power Rangers content has bowed in 150 markets worldwide and is translated into numerous languages. Created by Haim Saban and launched in 1993 with Mighty Morphin Power Rangers, the brand has 150 licensees globally including Jakks Pacific (which just recently extended its contract with Saban to cover costumes, accessories and seasonal items.)

While other toymakers have struggled following the Toys “R” Us bankruptcy filing, Hasbro has been able to endure an unpredictable market with a reported net revenue of US$5.21 billion for fiscal 2017, marking an increase of 4% over last year. The Rhode Island-based company holds licenses to other major boy-skewing brands like Marvel and Beyblade, both of which drove company sales in Q4 2017. Even still, Hasbro’s Partner Brands division declined by 21% in Q4 2017 to US$342.9 million, thanks to declines in Star Wars, Yo-Kai Watch and Disney Frozen products.