A Baby Yoda Animatronic was just the beginning. It was announced today that the partnership between Disney and Hasbro has been extended and Hasbro will continue to provide merchandise for Star Wars and Marvel.
Here’s what we know; Hasbro will retain the master toy licenses for both the Star Wars and Marvel brands. Because of its relationship with Disney, Hasbro’s partner brands revenue brought in $1.22 billion. The agreement between Disney and Hasbro is a multiyear contract. During this time, Hasbro will make products based on Marvel and Star Wars content. This means all content from film, television, and Disney+.
The partnership began back in 2013 and was set to expire in 2020. No financial details were revealed from the extension, but Hasbro credits most of its success to such Disney brands as; “Frozen 2,” “Avengers,” “Spider-Man,” and “Star Wars.”
On their website, Hasbro released an official statement:
PAWTUCKET, R.I. & BURBANK, Calif.–(BUSINESS WIRE)–Feb. 21, 2020– Hasbro, Inc. (NASDAQ:HAS) and The Walt Disney Company (NYSE: DIS) today announced a renewal of Hasbro’s rights under its strategic merchandising relationship for major Disney entertainment properties Marvel and Star Wars.
Under the Marvel license agreement, Hasbro will continue to develop a wide range of toys and games for Marvel’s global Universe of more than 8,000 characters, including Iron Man, Spider-Man, Captain America, Black Widow and Black Panther. The Star Wars license agreement includes the rights to toys and games based on entertainment like Star Wars: The Clone Wars and The Mandalorian, incorporating fan favorite characters such as The Child from The Mandalorian, affectionately known as Baby Yoda. The agreements are multi-year agreements.
The agreements cover entertainment released during their terms for the respective franchises, including all film and television properties as well as properties from Disney+.
“We are pleased to build on our relationship with Disney and extend our agreement for Marvel and Star Wars franchises,” said Brian Goldner, Hasbro’s Chairman and CEO. “Disney’s celebrated franchises are consistently ranked as top toy properties and provide expansive content for us to build upon for years to come.”
“Our longstanding relationship with Hasbro has provided generations of Disney fans with quality play experiences,” said Ken Potrock, president, consumer products commercialization, Disney Parks, Experiences and Products. “Continuing this successful collaboration for our Marvel and Star Wars franchises enables families and fans around the world to immerse themselves in our iconic stories and engage with our rich characters.”
Looks like there’s going to be lots of creative and innovative toys, games, and merchandise coming our way from the two brand titans.
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