Hasbro Posts 33% Increase in Fiscal 2021 Movie/TV Show Revenue

Hasbro’s re-emergence into movie and television show co-productions continues to positively impact the game manufacturer’s fiscal 2021 pandemic bottom line. The company Feb. 7 reported that fourth-quarter (ended Dec. 31, 2021) entertainment segment revenue increased 61% to $345.3 million from $214.3 million in the previous-year period. For the fiscal year, entertainment revenue increased 24% to $998 million from $805 million in 2020.

In the quarter, the entertainment segment narrowed its operating loss 50% to $17.5 million, from $35 million in the previous-year period. For the year, entertainment narrowed its operating loss 35% to $91.8 million, from $141 million in 2020 on revenue of $1.15 billion — the latter up 27% from revenue of $909 million in 2020.

Through its ownership of Entertainment One (eOne) and partnerships with Hollywood studios and digital distributors (i.e., Netflix, Showtime Anytime, etc.), Hasbro delivered 229 half hours of scripted television content; 695 half hours of unscripted television content; acquired 236 half hours of third-party produced television content; produced seven feature films; and completed production on six series of animated content.

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Specifically, television revenue grew with deliveries of “Yellowjackets,” “Cruel Summer,” “Graymail” and “The Rookie,” as well as sales of other scripted and unscripted programs. New film releases and deliveries are improving, and revenues grew led by Clifford the Big Red Dog, Come From Away and Finch. The successful Netflix release of My Little Pony: A New Generation supported Hasbro’s Family Brands revenue growth in the year, along with content sales for Peppa Pig and PJ Masks, and higher YouTube advertising revenue.

Much of Hasbro’s move into movie and TV show production is due to the late CEO Brian Goldner, who passed away last October after a long battle with cancer. Chris Cocks is set to replace interim CEO Rich Stoddart on Feb. 25.

“Throughout 2021, and finishing with focused execution in the fourth quarter, the Hasbro team did an excellent job in unprecedented circumstances,” chief financial officer Deborah Thomas said in a statement.

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