April 23rd, 2009
How Hasbro Is Getting Movies Made About Its Toys
By Claude Brodesser-Akner
As cash-strapped consumers spend less, Mattel and Hasbro have been feeling the pain in their toy chests. Last week Mattel, the world’s largest toy maker, posted a first-quarter loss of $51 million dollars. At No. 2 Hasbro, first-quarter profit was down 47% compared with the same period the year before, to just more than $19 million.
But thanks to markedly different Hollywood strategies, things may get a lot better a lot sooner at Hasbro. In an April 20 conference call with analysts, Hasbro’s CEO, Brian Goldner, said with two summer blockbusters afoot—a “Transformers” sequel and a GI Joe movie—Hasbro expects overall increases in sales and earnings this year.