Hasbro recently announced that first-quarter revenues for 2021 increased by 1% year-on-year to $1.11 billion. Hasbro said consumer product revenue increased by 14% while the company’s digital gaming sector grew by 15%.
“The global Hasbro team executed a very good quarter, driving strong sell-in and demand in the Consumer Products segment; growing both analog and digital revenues in Wizards and our licensed digital gaming business; and positioning us to deliver growth for the full year in the Entertainment segment,” said Brian Goldner, Hasbro’s CEO. “We continue to target full-year double-digit revenue growth for Hasbro supported by innovation and quality execution throughout the business. Across Hasbro, we are focused on unlocking the full potential value of our brands and capabilities as a play and entertainment leader.”
Hasbro’s gaming, which includes all gaming revenue, totaled $365.3 million for the first quarter of 2021. This represents a 7% increase compared to Q1 of 2020.
Hasbro franchise brands like Magic: The Gathering, Play-Doh, NERF, and Transformers saw revenue increase by 24% to $491.5 million.
The Profit‘s Take:
Video gaming is not Hasbro’s primary business. However, any company even touching the gaming space right now is seeing tremendous growth in that part of their business. Hasbro has been very successful bringing digital Magic to gamers and have no doubt they will continue to double down on the gaming space as a consequence.
(All information was provided by Toy News-Online)
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