Hasbro, Inc. and The Walt Disney Company announced that they are in the process of expanding their strategic merchandising affiliation for the major Disney entertainment properties, Star Wars and Marvel. The amendment to the merchandising partnership extends to the Hasbro global rights to the Marvel characters for an additional two years. The contract will run through 2020. Hasbro is tasked to continue in the development for the toys and games of the Marvel global Universe. The Marvel line includes more than 8,000 characters which include The Avengers, Iron Man and Spiderman. Included in the terms of agreement, Hasbro promises to pay Disney an additional US$80 million in royalties, in line with the release of the Marvel-branded products. The terms are contingent on any additional Marvel theatrical releases. The new strategic alignment follows the Disney acquisition of Lucasfilm.
"We are delighted to expand our agreements with Disney, Marvel and Lucasfilm and continue building on our extensive and successful long-term relationships," said Brian Goldner, Hasbro's President and CEO. "Disney's entertainment slate provides extensive content for both companies to build upon for years to come."
"We look forward to continuing our successful partnership with Hasbro," said Bob Chapek, President of Disney Consumer Products. "By delivering innovative and engaging play experiences for consumers all around the world, Hasbro is uniquely positioned to continue to translate the rich characters and storytelling of our Marvel and Star Wars franchises."
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