We don’t usually follow Sesame Street toys, but the license moving from long-term holder Mattel to Hasbro for a ten year term is significant, when you consider that Sesame Street is one of the biggest names in the market for young children, that is said to be about $10 billion a year in sales. Hasbro will begin selling Sesame Street products in 2011, after the Mattel license, served primarily through its Fisher Price division, expires.
Mattel picked up the 15 year license when it acquired Tyco way back in 1996. Prior to the acquisition, Tyco had just kicked off the license and had introduced Tickle Me Elmo, the product that would become the anchor for many holiday seasons for Mattel. Three years ago, Mattel relaunched the product as TMX – Tickle Me Elmo Extreme – to great success.
Hasbro, Sesame Workshop Announce 10-Year Global Strategic Alliance for Sesame Street
PAWTUCKET, R.I. & NEW YORK–(BUSINESS WIRE)–Today, Hasbro, Inc. (NYSE: HAS – News) and Sesame Workshop, the nonprofit educational organization behind Sesame Street, announced a 10-year global strategic alliance that will give Hasbro the rights to manufacture and market a wide-range of toys and co-branded games based on the beloved characters of Sesame Street. The range of products, featuring Elmo, Big Bird, Abby Cadabby and Cookie Monster, among others, will be designed to simultaneously entertain and educate young children. New Sesame Street products from Hasbro’s PLAYSKOOL and games brands will be available in stores beginning in 2011.
“We are very pleased to form a global strategic alliance with Sesame Workshop,” said Brian Goldner, Hasbro’s President and CEO. “Sesame Workshop has an amazing portfolio of characters that children have enjoyed in a variety of forms for decades, and Sesame Street is a brand that parents trust. Hasbro fully embraces Sesame Workshop’s philosophy and mission, and we see this new alliance as an ideal strategic fit,” Goldner said.
“At the heart of Hasbro’s business is making fantastic games, toys, lifestyle and entertainment products that are enjoyed by people of all ages worldwide,” said Gary E. Knell, Sesame Workshop’s President and CEO. “We are thrilled to work with the leading provider of play to provide families with an extended and engaging Sesame Street experience.”
About Sesame Workshop
Sesame Workshop is the nonprofit educational organization that revolutionized children’s television programming with the landmark Sesame Street. The Workshop produces local Sesame Street programs, seen in over 140 countries, and other acclaimed shows to help bridge the literacy gap including The Electric Company and Pinky Dinky Doo. Beyond television, the Workshop produces content for multiple media platforms on a wide range of issues including literacy, health and military deployment. Initiatives meet specific needs to help young children and families develop critical skills, acquire healthy habits and build emotional strength to prepare them for lifelong learning. Learn more at www.sesameworkshop.org.
About Hasbro
Hasbro, Inc. (NYSE: HAS – News) is a worldwide leader in children's and family leisure time products and services with a rich portfolio of brands and entertainment properties that provides some of the highest quality and most recognizable play and recreational experiences in the world. As a brand-driven, consumer-focused global company, Hasbro brings to market a range of toys, games and licensed products, from traditional to high-tech and digital, under such powerful brand names as TRANSFORMERS, PLAYSKOOL, TONKA, MILTON BRADLEY, PARKER BROTHERS, CRANIUM and WIZARDS OF THE COAST. Come see how we inspire play through our brands at http://www.hasbro.com.