Home Business NewsBusinessBusiness Growth News Hasbro posted 70% growth in Star Wars revenue 2020

Hasbro posted 70% growth in Star Wars revenue 2020

by LLB Finance Reporter
17th Feb 21 12:38 pm

The world’s largest toymaker, Hasbro, reported a double-digit surge in sales in 2020 tied to the spectacular performance of its Star Wars merchandise.

According to the research data analyzed and published by Sijoitusrahastot, there was a 70% uptick in the sales of its Star Wars merchandise. This happened despite the fact that for the first time since 2014, Disney did not have a Star Wars release in 2020. It sought to make up for that by streaming The Mandalorian on Disney+.

Based on a report by the NPD Group, US toy sales in 2020 shot up by 16% to $25.1 billion. May 2020 was the peak month as it saw a 38% sales increase, followed by October 2020 at 33%.

Barbie Sales Shot Up by 19% in Q4 2020, 16% Full-Year

Hasbro’s holiday quarter revenue totaled $1.7 billion, up by 4% YoY. Its gaming segment had a 27% increase while the TV/film/entertainment segment rose by 20%.

Its total sales in the US and Canada soared by 16% during the quarter. For the gaming segment, Magic: The Gathering was the top performer, reporting a 27% uptick to $581.2 million. Full-year eCommerce sales for the toymaker surpassed $1 billion, accounting for a 25% share of all sales.

On the other hand, Mattel, one of its rivals, had the strongest quarter in 15 years during Q4 2020. Its sales shot up by 10% to $1.63 billion bringing 2020’s total revenue to $4.58 billion. Its net income rose to $127 million, making 2020 its first full profitable year since 2016.

Mattel’s Barbie products had the strongest growth, with sales shooting up by 19% in Q4 2020 and 16% for the full year.

Both Mattel and Hasbro reported stock declines of more than 50% during the March 2020 sell-off. As of February 16, 2021, both had recovered, with more than 100% uptick from both of their lowest price points in 2020.

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