Tag: Transformers: Bumblebee

Hasbro’s eOne Posts Q4 Profit, Ups Revenue Despite Pandemic

Hasbro’s Entertainment One (eOne) subsidiary Feb. 8 reported fourth-quarter (ended Dec. 27, 2020) operating income of $46 million, compared with an operating loss of $34.8 million during the previous-year period, (ended Dec. 29, 2019) based on an adjusted pro-forma basis. Revenue increased 10% to $259.6 million, from $235.2 million. Hasbro acquired eOne for $4 billion in Q1 2020.

Revenue increased in the quarter as live-action TV and film production resumed. 2020 operating profit included $34.7 million of acquisition and related charges, and $25.5 million of purchased intangible amortization associated with the fair value of acquired intangible assets.

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Hasbro’s film and TV production revenue declined 15% to $110 million, from $130.2 million in the previous-year period on lower consumer products revenue as well as lower entertainment revenue, partially offset by growth in digital gaming. The previous 2019 quarter included Bumblebee movie revenue in partnership with Paramount Pictures. Operating profit decreased due to lower revenue, partially offset by growth in licensed digital gaming and cost management.

“Throughout 2020, the global Hasbro team did an excellent job executing in a challenging environment,” CFO Deborah Thomas said in a statement. “In the fourth quarter, we grew revenues and adjusted operating profit, overcoming tough comparisons within the partner brand category and last year’s theatrical releases.”

Hasbro Completes eOne Purchase, Ups Licensing Revenue

Hasbro Feb. 11 disclosed it has completed its $3.8 billion acquisition of Entertainment One Ltd. (eOne). The game manufacturer’s financial results for the fourth quarter and full-year 2019 (ended Dec. 31) do not include the results of eOne, but were impacted by acquisition financing, foreign-exchange hedges and other activities associated with the deal.

The agreement aims to accelerate Hasbro’s brand portfolio with eOne’s global preschool brands, TV and film catalog (i.e. “Transformers,” “G.I. Joe,” etc.).

“The acquisition … significantly expands our expertise and capabilities as a global play and entertainment company,” CEO Brian Goldner said in a statement. “Our teams are actively engaged to unlock value across our organization — in gaming, in toys, in consumer products and in entertainment.”

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Costs associated with the transaction included $17.8 million of eOne acquisition-related costs for the fourth quarter and full-year 2019.

Full-year 2019 entertainment, licensing and digital segment net revenue increased 22% to $434.5 million, compared with $356.3 million in 2018.

Revenue included Hasbro’s share of from the Bumblebee movie, including home entertainment, consumer products revenue and higher digital gaming licensing revenue. This was partly offset by lower digital streaming revenue versus 2018’s multiyear digital streaming deal for Hasbro television programming.

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Hasbro legacy gaming revenue decreased 10% to $709.8 million. Revenue gains from “Dungeons & Dragons” and several classic games titles were more than offset by declines in other games, including Pie Face and Speak Out. Hasbro gaming revenue decreased in all three operating segments.