Hasbro is starting to run up against skewed numbers due to the pandemic-fueled chaos that overtook the toy industry for much of the second quarter of 2020.
The toy and entertainment giant reported overall revenues that grew 54% over the same period last year and 9% when compared to the pre-pandemic results of 2019. This is the second quarter of reporting under the new trio of operating and financial reporting segments — Consumer Products, Wizards of the Coast and Digital Gaming, and Entertainment — that were revealed in February. The sales of consumer products, including toys and games, grew 33% while Wizards of the Coast and digital gaming spiked more than 200%. The Entertainment division, Entertainment One (eOne) grew 47% after being a low spot in recent quarters due to COVID-19-related production and output challenges.
“Wizards continued to generate outstanding results behind a compelling analog and digital release schedule for Magic the Gathering. Consumer products revenue increased as demand remains robust for Hasbro toys and games and entertainment revenue grew as we are producing entertainment with strong deliveries,” says Hasbro Chairman and CEO Brian Goldner. “The Hasbro team is performing at a high level and supercharging our brand blueprint to drive demand for our brands and content slate as we track to our target of double-digit revenue growth for the full year and position us for profitable growth, not just this year but also in future years.”
Hasbro says that its revenues spiked across every category of its brand portfolio with Franchise Brand gains in Magic the Gathering, Transformers, My Little Pony, NERF, Baby Alive, and Play-Doh. In the Partner Brands segment, Marvel products gained steam alongside new offerings from Lucasfilm’s Star Wars brand — including products based on The Mandalorian — Disney Princess, and Beyblade. Hasbro Gaming growth was toplined by Dungeons & Dragons, Duel Masters, and the surprise hit, Foosketball. In the Emerging Brands segment, PJ Masks and Peppa Pig — both brought in-house following last year’s eOne acquisition — did big business alongside Furreal Friends and the ongoing relaunch of the iconic G.I. Joe brand.
Entertainment revenue increased as production and delivery of new content resumed across TV and Film, Family Brands, and Music, the latter of which was recently sold. Hasbro notes that it’s also seen growth in YouTube advertising revenue.
Total revenue for Hasbro hit $1.32 billion in Q2.
Executives will address investors and analysts on a conference call this morning.