In my last posting, I wrote about Mattel and its decision to become a force in the movie business. The Barbie movie was just the beginning for Mattel Films, with plans for a series of films based on Mattel’s collection of brands.
But what about Hasbro, who recently sold off its eOne movie production division to Lions Gate for $500 million? Hasbro’s purchase price was $4 billion, so the company definitely wanted out.
The late Brian Goldner was Hasbro’s CEO in 2019 when the eOne acquisition was completed. Goldner was a visionary who believed Hasbro could be a player in Hollywood.Three things occurred to disrupt Brian’s goals.
The pandemic basically shut down Hollywood. Hasbro’s movie strategy never got traction.
Eone Was Not a Complete Fit for Hasbro
Eone was more than Peppa Pig. It was also “Death Row Records” and “Naked and Afraid.” The combination of Eone and Hasbro therefore confused some stock analysts resulting in an uncertainty as to how to how the company was faring.
Brian Goldner’s Passing
Brian Goldner passed away in 2021. Brian was a man with not just a vision but the will to put his beliefs into action. Brian’s death was therefore an incalculable loss.
Chris Cocks Became CEO in 2022.
Brian had a very different vision for Hasbro. He wanted the company to return to its roots in the toy industry and, at the same time, become a player in digital gaming.
If biography is destiny, Mr. Cocks has the personal history to match his proposed future for Hasbro.
During his tenure, Wizards of the Coast has become a major player for the company, more than doubling its revenue to $1 billion-plus. Cocks has worked on Hasbro’s popular Magic: The Gathering, Dungeons & Dragons and Duel Masters franchises. Before Hasbro, he led Microsoft’s Xbox Games and MSN teams and its gaming franchises Halo and Fable.“Hasbro Ups Digital Gaming Chief Chris Cocks To CEO,” Erik pedersen, Deadline, January 5, 2022
The business model that works could well define how the entire toy industry will look in the coming years. Keep an eye on these two companies. All of us will feel the impact.