Although Disney did not release a Star Wars movie last year, the franchise didn’t suffer one bit on the merchandising side. This was made clear when Hasbro, one of Lucasfilm’s main licensing partners, revealed that Star Wars Toy sales soared in 2020. This is largely due to the success of The mandalorian and, more specifically, the popularity of Baby Yoda, also known as Grogu.
Hasbro recently reported on its earnings for the last year. The company’s sales of its licensed content from entertainment studios fell 12 percent to $ 1.08 billion for the full year. However, Star Wars merchandise sales expanded by 70 percent during that same period. Hasbro said fourth-quarter earnings fell to $ 105.2 million. Meanwhile, fourth-quarter revenue expanded 21 percent to $ 1.72 billion, beating industry estimates. Hasbro CEO Brian Goldner said this.
“What’s been great for our business is that so many people are now enjoying streaming content, that it has really reached a tipping point. And that tipping point means there are tens of millions of people watching a piece of content over a period of time. of time that allows us to ‘eventize’ “.
“Eventize” they did it with The mandalorian season 2. Baby Yoda was kept completely under wraps during the show’s first season until his surprise debut in the first episode. This prevented Lucasfilm, and its partners like Hasbro, from creating merchandise in advance. But heading into season 2, they were able to capitalize in a big way. Hasbro is said to have had a difficult time keeping Grogu’s merchandise in stock. That lines up with the reported increase in sales. Stephanie Wissink, CEO of research firm Jefferies, said this.
“We see rapid subscription growth, Disney + globalization, and access to Disney content for new audiences as a key catalyst driving demand for consumer products. Hasbro is one of Disney’s largest strategic partners to enable for fans of all ages to engage with brands in a form of physical goods. “
The good news for Hasbro and Disney is that this money train will continue to run. Not only is The mandalorian Season 3 will begin filming in a few months, but Disney + will be home to many future Star Wars Projects. Shows like Andor, Obi-Wan Kenobi, Ahsoka, New Republic Rangers, The acolyte Y Boba Fett’s book they are all on the way. That will provide many marketing opportunities.
Hasbro recently extended its contract with Disney. That’s good news since Hasbro also runs Marvel. Beginning with WandaVision, which debuted recently, quite a few MCU shows are also heading to Disney +, with The Falcon and the Winter Soldier until next time. Y Star Wars movies are still on the way, with Rogue Squad, directed by Patty Jenkins, scheduled for December 2023. More toys. More money. This news comes to us through CNBC.
Topics: The Mandalorian, Baby Yoda, Disney Plus, Streaming