Hasbro Inc. has unveiled a fresh entertainment division, marking a significant move just weeks after the $500 million sale of its eOne television and movie business to Lionsgate.
This new division will consolidate the company’s existing film, television, animation, and digital operations under a unified structure. Aligned with its Blueprint 2.0 strategy, which aims to prioritize high-growth, high-profit segments and enhance cost efficiency, Hasbro is also focused on strengthening its leadership team by attracting skilled executives.
Tim Kilpin, President of Hasbro’s toy, licensing, and entertainment division, underlines the importance of entertainment within the company’s strategy. Kilpin emphasizes, “Entertainment is core to Hasbro’s strategy and its mission to entertain and connect generations of fans through the wonder of storytelling and exhilaration of play.”
Olivier Dumont takes on the role of President of Hasbro Entertainment, accompanied by Zev Foreman and Gabriel Marano as the Head of Film and Head of Television, respectively. Foreman and Marano, previously engaged in Hasbro IP projects at eOne, will continue their contributions in these extended positions.
The acquisition of Entertainment One Ltd. by Hasbro in 2019 was driven by the allure of eOne’s preschool brands, including popular names like Peppa Pig and PJ Masks. While the recent eOne sale altered the landscape, Hasbro still retains ownership of the eOne family brands division, securing access to cherished properties like Peppa Pig.
After a series of job cuts and the shutdown of its UK theatrical business, Hasbro reported a second-quarter loss of $235 million, following a $142 million Q2 profit in 2022. The transformation is part of Hasbro’s proactive strategy to navigate the evolving entertainment landscape and solidify its position in the industry.