Hasbro’s entertainment segment saw its revenue jump 76% to US$327 million in Q3 2021 largely driven by recent film deliveries like My Little Pony: A New Generation (pictured) and content deals for family-friendly franchises like Peppa Pig and PJ Masks. This large growth led the Rhode Island-based toyco to an 11% increase in overall revenue in Q3 to the tune of US$1.97 billion.
This focus on entertainment also serves as a continuation of the legacy of longtime CEO Brian Goldner, who died earlier this month. Goldner joined Hasbro in 2000, was named CEO in 2008, and expanded the toymaker into television, movies and digital gaming. The culmination of this strategy was the acquisition of Entertainment One in 2019.
However, revenue for the toyco’s consumer products segment did not have as good of a quarter, and declined 3% to US$1.28 billion due to delays in the shipping industry caused by ongoing disruptions to the supply chain, according to Hasbro.
The company’s Wizards of the Coast and Digital Gaming segment, meanwhile, reported US$360 million in revenue (an increase of 32% compared to the same period last year). This growth was led by Hasbro’s Magic: The Gathering and Dungeons & Dragons franchises.
When it comes to the toymaker’s brand portfolio, several categories saw growth this year, including TV/Film/Entertainment (up 58% to US$261 million), Emerging Brands (up 15% to US$177 million) and Franchise Brands (up 9% to US$882 million). Partner Brands declined 10% to US$366 million.
The company’s Gaming category saw revenue grow 18% to US$281 million during Q3 2021, while Hasbro’s Total Gaming category (which includes Magic: The Gathering and Monopoly, both reported in the Franchise Brands portfolio) saw revenue increase 21% to US$658 million during the same period.
Moving forward, Hasbro anticipates revenue growth of up to 16% for the full fiscal year. During the company’s earnings call, interim CEO Rich Stoddart said the search for a permanent CEO is “well underway.”