Hasbro and The Walt Disney Company have expanded their strategic merchandising relationship for Disney’s Marvel and Star Wars properties.
"We are delighted to expand our agreements with Disney, Marvel and Lucasfilm and continue building on our extensive and successful long-term relationships," says Brian Goldner, president and chief executive officer, Hasbro. "Disney's entertainment slate provides extensive content for both companies to build upon for years to come."
The Marvel amendment extends Hasbro's global rights to Marvel characters for an additional two years, through 2020. Hasbro will continue to develop a wide range of toys and games for Marvel's more than 8,000 characters including Spider-Man, The Avengers and Iron Man. As part of the agreement, Hasbro will guarantee an additional $80 million in royalties to Disney with respect to Marvel-branded products, contingent on additional Marvel theatrical releases.
The two companies have also aligned the terms of Hasbro’s Lucasfilm agreement, following Disney’s acquisition of the company. Hasbro’s existing rights for the Star Wars franchise will also run through 2020.
Additionally, in anticipation of the next three Star Wars sequels and the release of other potential Star Wars-related entertainment that was not foreseen when the previous agreement was arranged, Hasbro will pay up to $225 million in guaranteed payments to Disney. $75 million will be paid on signing with the remainder due in accordance with the planned releases of the new Star Wars films. Star Wars: Episode VII is currently planned for summer 2015.
"We look forward to continuing our successful partnership with Hasbro," says Bob Chapek, president, 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."