HASBRO, INC. (HAS)

Hasbro, Inc. is a game, intellectual property (IP), and toy company whose mission is to create joy and community through the magic of play. With over 100 years of experience, it delivers play experiences through physical and digital games, video games, toys, licensed consumer products, location-based entertainment, film, TV and more. Its franchise-first approach draws on new and legacy IP, including MAGIC: THE GATHERING, MONOPOLY, HASBRO GAMES, PLAY-DOH, TRANSFORMERS, DUNGEONS & DRAGONS, NERF and PEPPA PIG, plus partner brands. In 2025 it launched its "Playing to Win" strategy and continued an Operational Excellence cost-savings program that has delivered almost $800 million of gross savings toward a $1.0 billion commitment. It also divested the non-core film and TV business of eOne.

The company operates in three lines of business: games, IP licensing and entertainment, and toys. Reported segments include Wizards of the Coast and Digital Gaming and Consumer Products. Games include MAGIC: THE GATHERING, DUNGEONS & DRAGONS, MONOPOLY, JENGA, CONNECT 4, THE GAME OF LIFE, SCRABBLE, CLUE and TRIVIAL PURSUIT, through its Wizards of the Coast subsidiary and Hasbro gaming. Toy and game products include trading cards, collectibles, action figures, arts and crafts, dolls, play sets, preschool toys, plush and vehicles, based on owned brands and licensed third-party brands such as MARVEL and STAR WARS. Digital gaming covers AAA and AA games, games as a service and licensed games. Examples include MONOPOLY GO! (from Scopely), Baldur's Gate 3 (from Larian Studios), Magic: The Gathering Arena, and in-development titles EXODUS and WARLOCK: DUNGEONS & DRAGONS. Hasbro has four internal gaming studios. It also licenses its IP for consumer products, digital games, casino-floor partnerships and location-based entertainment such as theme parks and family entertainment centers. Entertainment centers on PEPPA PIG and MY LITTLE PONY content. The Hasbro Direct platforms are Magic: The Gathering Arena, SECRET LAIR, D&D Beyond and Hasbro PULSE.

Products are sold globally to mass-market retailers, distributors, wholesalers, discount stores, specialty hobby stores, drug stores, department stores and ecommerce retailers, and directly to consumers. Hasbro's own sales forces account for most sales, with independent distributors serving areas where it has no direct presence. In 2025 the top five customers accounted for about 35% of consolidated net revenues. Amazon.com represented 11% and Wal-Mart 9%. Products are advertised through digital marketing, social media, television and entertainment tie-ins.

Most products are made by third-party manufacturers in China, Vietnam, India, Japan, Belgium, the United States, Mexico and Indonesia, using basic raw materials such as plastic, paper and cardboard, and some electronic components. Hasbro is diversifying its manufacturing footprint and uses owned and leased distribution centers along with third-party logistics providers. Products are developed by a global function of internal designers, artists, model makers and engineers, supplemented by independent designers who are paid royalties. Hasbro competes with other toy and game manufacturers for designs and licensed rights, and pays royalties on licensed-brand products. As a licensor, it generally receives sales-based or usage-based royalties, sometimes with minimum guarantees.