Hasbro – Master Toy Licensing
12-31-08
Hasbro is a major toy license company. They have a contract to develop and manufacture toys, games and other merchandise for Marvel and other movies. It is a company that is focused on developing brands, it’s own and through licensing the right to attach other company’s brands to the products they manufacture. They are what is called in the entertainment industry – a Master Toy Licensing entity.
In 2007, I received a telephone call from George Delaney, a seventy-two years young entreprenuer, who has been a games and toy agent for decades. I submitted several of my games and brands to him a year earlier but had heard only praise about the quality of my brands, comics and games. After that, nothing. So I wrote off that attempt to expand my products and brands via his help.
A year passed. Then I got a group of telephone calls in November – December 2008 that he is talking with a Hasbro connection of his. Now everyone in the biz knows he has had a relationship with this company for many years and sold/licensed a bunch of products to them before (plus to many other companies), so I became very interested right away. I mean this is Hasbro, one of the world’s largest and most powerful toy companies. They could launch any brand internationally and finance brand penetration to the point where almost everyone on this planet would know what my Galactic Gladiators and other submitted brand concepts were all about.
This was the big leagues.
This was serious business.
This is every entertainment creator’s dream.
Two days later, George Delaney calls me again to ask me to send my bio and toy/entertainment background info to a Hasbro executive with the ability to make things happen. We also discussed several other people in the Hasbro Research and Development department that we mutually knew (Hi Michael). So this was the real deal. Things were getting exciting.
He had talked with a few people who liked what I had created and set up a meeting for him to pitch my stuff. This was extremely short notice but being prepared for the lucky breaks is the best way to ensure to be ready for situations like this. His meeting was that afternoon and he would call me with the results later.
Everyone in my immediate circle was excited. Investors, business connections, family and friends were hoping for the best but I made sure they were aware that the percentage for a successful submission being licensed was very low.
This industry has the ability to take one to the highest peak, on top of the world. This is a stressful state combined with the rushing to get packages together for important meetings like this one. My only wish was that I could be there to assist in the pitch because no one knows my products/projects better than me, just like no one else can explain your projects better than you. Second hand information does not translate as good.
Anxious and uncertain were the next few days until George called to let me know that Hasbro had passed but loved the concepts and artwork used in developing my brands. Their upper management decided to put over a billion dollars towards their Marvel Master Toy License.
They invest a hundred million to launch a brand these days. Hasbro put a few of their own in-house brands on back burners to push the successful Marvel projects and toys. A good decision, as I am a big Marvel fan. I am sure this will pay off well for both parties.
However, the low of being pushed off to be reconsidered in 2012 or 2013 is some consolation but at least the iron is still in the fire. If you knew me you know that I never quit and will continue to work on my projects. Only next time, I am going to be at the meeting and help pitch and seal a deal, if not with Hasbro, then another powerful company.
Of course, I will continue to market my entertainment projects throughout the world as I have in the past. With or without a major toy licensee.
I originally wasn’t going to mention this but this is part of the branding process and actual inside information can only help you with your endeavours. Remember- the harder you work, the luckier you get!
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