Speaking to Bloomberg, Hasbro CEO Chris Cocks states that the toy giant will stop co-financing movie projects.
Mr. Cocks is leading the company through a challenging transition, focusing on video games and digital entertainment to offset declining toy sales and underperforming movie ventures. A gamer at heart, Chris Cocks joined Hasbro in 2016, overseeing the rapid growth of the Wizards of the Coast division, which produces Magic: The Gathering and Dungeons & Dragons.
Under his leadership, Hasbro is investing heavily in gaming, including licensing hits like Monopoly Go and Baldur’s Gate 3, as well as developing new projects like a GI Joe action-adventure game (tentatively titled G.I. Joe: Snake Eyes) and a digital Magic: The Gathering Commander format. Despite the competitive video game market and recent project cancellations, Hasbro aims to release one to two new video games annually by 2026.
Mr. Cocks is also expanding Magic: The Gathering with crossover sets featuring Lord of the Rings and Marvel characters, drawing new players while sparking fan debate. Hasbro’s focus on digital collectability and broader gameplay reflects its effort to adapt to shifting consumer preferences. As the new CEO puts it, Hasbro’s future lies in leveraging its iconic brands through innovative play.
You can read the full article at Bloomberg (paywall).
News Post: Hasbro Stops Financing Movie Projects
Declining toy sales? I thought Classified was doing wonderfully.
Interesting. I'm not pleased but it might be a good call under his leadership
Well their sales decline because increased prices, lackluster offerings on many figs nd lines nd bad marketing choices.
My guess is that TF:One underperforming kicked this into motion a bit sooner than expected. The film was great but nobody went to see it, and it's all about money in this day and age.
If they are going to focus on digital games, please re-release Axis and Allies: Iron Blitz!!!
I loved Transformers:One, but seems like it just did not have the theatre draw needed. And as for declining Toy Sales, I think other lines like SWBS and INDY last year are what they are addressing. Most of the Joe and TF stuff is selling out on PULSE and other sites, so I think these lines are doing okay. This is just my opinion.
Guess cox couldnt stand up under so much heavy pressure.
Best they stick to making toys.
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