Hasbro posted better-than-expected third-quarter results despite some disruptions to its retail business and offered some updates on its “asset-light” entertainment approach.
Total revenue for the period ended September 30 climbed 8% over the prior year, reaching $1.39 billion. Earnings per share came in at $1.68. Both metrics exceeded Wall Street analysts’ consensus forecast.
During a conference call with analysts to discuss the quarter, Hasbro execs said they have seen positive signs in October that retailers are ramping up their stocking of toys and games in time for the crucial holiday season push. Heading into the quarter, Hasbro and Mattel have both indicated some disruptions for a few reasons, one of them the U.S. tariff regime. CEO Chris Cocks said he expected that retail prices would rise if current tariffs hold.
Since the decision to sell eOne to Lionsgate in 2023, Hasbro has taken a more “asset-light” approach to the entertainment business, as CFO and COO Gina Goetter put it during the call. With family brands like Peppa Pig, Hasbro itself is making content, but for other IP, it is licensing to third parties. In the third quarter, total entertainment revenue hit $61.3 million, with 87% of that tally in the family category.
Asked about the outlook for the entertainment segment, Goetter said investors should expect “more of the same,” with revenue holding steady and margins on the high side at 50% to 60%. The delivery of the revenue gets a lit bit lumpy because it’s based on when deals are inked. But overall that’s how you should think about the mix of.
“We think of entertainment as a long-term brand development pipeline,” Cocks said. “There’s some revenue associated with it. It’s advertising that pays for itself.” He said the company is working with “the best of the best,” including Disney, Netflix, Universal, Warner Bros., Paramount and Lionsgate. Even so, the CEO added, “We tend to not announce a development deal, we tend to wait until it’s actually in production. Those are starting to go through, and probably in 2026 there will be a lot more to share.”
About 45 to 50 series and feature film projects based on major Hasbro properties are in development, Cocks estimated. Two separate Monopoly projects are in the works (a feature take set up at Lionsgate and produced by Margot Robbie’s LuckyChap, and also an unscripted game show on Netflix).
Asked about 2026 toy lines he is optimistic about, Cocks called out Kpop Demon Hunters, the animated smash for which Netflix named both Hasbro and Mattel co-master toy licensees. “We’ve got a lot of really cool ideas. It’s been fun working with Netflix on it in a fairly quick order,” he said. He also said Disney’s slate for next year is “stacked,” with Toy Story 5, a new Star Wars outing featuring the Mandalorian and Grogu (aka Baby Yoda) and a new Avengers entry. A new Spider-Man installment is also due.
The post Hasbro CEO Talks “Really Cool” ‘Kpop Demon Hunters’ Netflix Toy Deal, Says “45 To 50” Film & TV Projects Now In Development appeared first on Deadline.
