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Hasbro: Hasbro Interactive
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[C]ontributing to Hasbro's challenges in the 1990s was its belated struggle to enter the market for electronic games. Eventually, in 1992, the company began development of a mass market virtual reality game system. Although such a system was successfully developed, it was judged too expensive for the mass market and the project was abandoned in 1995, resulting in a charge of $31.1 million. In 1993, Hasbro bought a 15-percent stake in Virgin Interactive Entertainment, a producer of game software for Sega and Nintendo systems, with the intention of developing software based on Hasbro toys and games. Two years later... Hasbro dissolved the partnership and sold its stake.
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Hasbro is a worldwide leader in the design, manufacture and marketing of toys, games, interactive software, puzzles and infant products. Both internationally and in the U.S., its PLAYSKOOL, KENNER, TONKA, ODDZON, SUPER SOAKER, MILTON BRADLEY, PARKER BROTHERS, TIGER, HASBRO INTERACTIVE, and GALOOB products provide children and families with the highest quality and most recognizable toys and games in the world.
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Hasbro entered the video gaming market in 1995 with the creation of Hasbro Interactive. In a short time, Hasbro Interactive launched a number of successful software franchises based on its own brands, including TONKA and MONOPOLY, as well as established new software brands, such as ROLLERCOASTER TYCOON. Hasbro sold its interactive division to Infogrames Entertainment SA in 2000, and the Company's brands continue to thrive in the video gaming market through a licensing agreement with the Infogrames.
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Hasbro Interactive became the #3 computer game publisher within three years of its founding. But in 1999, Hasbro Interactive lost $74 million on revenues of $237 million a growth of just 20% over the previous year.[1] Late in 1999 with several game projects underway and dozens of new employees, many of who moved just to work for the company, Hasbro Interactive shut down several studios in a cost-cutting move. The studios affected included the former MicroProse offices located in Alameda, California and Chapel Hill, North Carolina. In 4 years Hasbro Interactive's revenue increased 577%.
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Having maintained its independence, Hasbro adopted a multipronged strategy for reinvigorating its performance as the turn of the century approached. Its strategies included leveraging its well-known brands in new ways; stepping up efforts to market electronic versions of established games, particularly through the Hasbro Interactive initiative; continuing to grow internationally; and bolstering new product development primarily through media tie-ins. Already planned for 1997 were several promising film tie-in prospects, including the movies Jurassic Park 2, Batman and Robin, and Barney's Great Adventure, as well as the theatrical re-release of Star Wars.
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Hasbro Interactive embarked on both internal and external development, and acquired some smaller video game developers and publishers such as MicroProse for $70 million[2] and Avalon Hill for $6 million[3] both in 1998. Hasbro acquired the rights for 300 games when it purchased Avalon Hill.[3] With those acquisitions Hasbro Interactive revenues increased 127% in 1998 to $196 million and profits of $23 million.[1] Hasbro Interactive was growing so fast that there was talk of reaching $1 billion in revenues by 2002.[1] They ... purchased the remaining brands and other intellectual property rights of Atari Corp. from JTS, and engaged in some other video game licensing, such as Frogger from Konami. They sought to use Hasbro board game brands, MicroProse titles, Avalon Hill and Wizards of the Coast as leverage to increase revenues.
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