FinancialHasbro
Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934: FY2023
28 Feb 20241 pages~378 min full read
Key insights
5 takeaways · ~2 min read- 01Hasbro's Partner Brands net revenue declined in 2023, primarily due to the expiration of DISNEY FROZEN and DISNEY PRINCESS license agreements in December 2022, and lower sales for MARVEL and STAR WARS products compared to 2022, which had a robust entertainment release slate.
- 02Advertising expense decreased in 2023 to $358.4 million (7.2% of net revenues) from $387.3 million (6.6% of net revenues) in 2022, mainly due to lower spending in the Consumer Products segment, partially offset by increased spending in Entertainment and Wizards of the Coast and Digital Gaming segments.
- 03Hasbro employed approximately 5,502 people worldwide at year-end 2023, with 53% in North America (47% in the U.S., 6% in Canada), 22% in Europe, 19% in Asia Pacific, and 6% in Latin America.
- 04The company's direct-to-consumer platforms include Magic: The Gathering Arena, SECRET LAIR (for Magic: The Gathering cards), and D&D Beyond (for Dungeons & Dragons digital content).
- 05Hasbro faces risks if it cannot adapt to the shift to direct-to-consumer business models, effectively connect with consumers through digital channels, or manage its supply chain and order processing for e-commerce.
Summary
SEC 10-K filing for Hasbro, filed 2024-02-28.
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