Hasbro, Inc. have reported their financial results for Q3 2024, with overall revenue down by 15%, and partner brands including Marvel and Star Wars down by 17% from $228.2 to $190.1 million year on year. Star Wars was mentioned in the Earnings Call and Presentation for the first time in many years.
From the Q3 2024 Earnings Call…
Toy revenue softness was due in part to our decision to sell less closeout volume in favor of higher profitability, as well as incremental softness in action figures, particularly Star Wars. We view action figures as a long-term bet for the Company and a place Hasbro has special strength from preschoolers to kids to adult fans. So we are bullish about this segment’s eventual return to growth.
Continued softness in Nerf and action figures, particularly Star Wars, also contributed to the decline in the quarter.
From the Q3 2024 Presentation…
Consumer Products updated revenue range reflects lower close out volume and softness in select brands including Star Wars and NERF.
It is interesting to note how Hasbro mentions Star Wars, stating that the brand “particularly” contributed to a “softness in action figures” and a “decline in the quarter”.
With no new movie due to 2026, can Star Wars make any form of impact with action figures in the toy aisle in 2026 and beyond? 2027 marks the 50th anniversary of the brand and with an expected cinematic rerelease of A New Hope, perhaps supported by the cast and crew for one last time, we would expect the celebration to bring with it a bounty of products appealing to fans of all ages across all toys categories. As always, we’ll be watching closely.
