Hasbro aims to invest up to $150m a year in games

Entertainment company Hasbro has earmarked $100m to $150m a year for new games projects as it looks to ramp up its plans for the sector.

As reported by Bloomberg, the firm expects to earn $105 million this year from licensing Scopely’s smash hit Monopoly Go, which has generated billions of dollars on mobile.

Hasbro is said to have invested $1 billion in games. By 2026, it aims to release one to two games annually.

The investment in games comes after it sold off most of its film and TV business last year and will no longer co-finance movies based on its products.

“We want to reach fans where they want to play, and increasingly that is through digital expressions of their favourite brands,” said CEO Chris Cocks. 

Declining Sales and new ventures 

Hasbro’s consumer products division, which includes brands like GI Joe and Play-Doh, is expected to see a third consecutive year of declining sales, with only modest growth forecasted for 2025. 

Earlier in September, Hasbro penned a collaboration deal with Supercell to bring Transformers to Squad Busters. Hasbro is also exploring new digital initiatives, such as a multiplayer version of Commander and making digital cards more collectible, similar to Marvel Snap.

The company laid off over 1,000 employees in 2023 and is considering relocating its headquarters to Boston from Pawtucket, Rhode Island.