9:15 h / 2021/02/26
Hasbro held its first-ever Virtual Investor Event this morning as a digital replacement for its annual in-person event that usually takes place at Toy Fair New York (TFNY). While the company has been holding virtual press and retailer presentations to showcase new toys and games for 2021, the Virtual Investor Event went heavy on entertainment at the payoff from its acquisition of Entertainment One (eOne) is well underway.
As the toy, game, and family entertainment businesses continue to evolve and morph into one another, Hasbro is joining its competitors, including Mattel and Spin Master, in re-segmenting its business for future reporting that more accurately represents what the company does. Hasbro is now divided into three new financial reporting segments: Consumer Products, Wizards of the Coast and Digital Gaming, and Entertainment.
“The integrated and assembled value of consumer products, Wizards and digital gaming, and entertainment is how we unlock the next level of return for our business and for our stakeholders,” says Brian Goldner, Hasbro’s chairman and chief executive officer. “We have simplified our structure to maximize our growth and provide a clearer view to the drivers of Hasbro revenues, profit, margin, and cash generation. Our Brand Blueprint thrives as we create value from these three areas of our business, and we are building scale behind them to drive more profitable revenue and meet the needs of our consumers and audiences with innovation and creativity for a modern era.”