In a new five-year exclusive deal that will see both the companies collaborate on live-action and animated films based on Hasbro brands as well as original content, Paramount Pictures has expanded its existing relationship with Hasbro.
The new deal comes following a 7 per cent increase in Hasbro’s Q3 revenue and net earnings and the announcement of the second-ever HASCON fan convention.
While terms of the transaction is under wraps, Paramount and Hasbro will co-finance projects including TV programming at various levels of investment. The Studio will handle worldwide distribution over the course of the deal.
Hasbro’s film label Allspark Pictures, led by newly appointed president Greg Mooradian and Allspark Animation, under the leadership of Hasbro’s Meghan McCarthy, will work alongside the companies on development and production.
Irish animation studio Boulder Media, which Hasbro acquired in July 2016 to strengthen its TV and feature film capabilities will also help produce the companies’ new projects.
The Dublin-based subsidiary, as well as Hasbro’s entertainment division Hasbro Studios, currently report to Hasbro CCO Stephen Davis, who leads the Rhode Island-based toyco’s entertainment and consumer products licensing division.
In late 2015, the two companies had formed a new partnership to create a cross-property film universe featuring characters based on five Hasbro brands: G.I. Joe, Micronauts, Visionaries, M.A.S.K. and ROM. It is not yet known if any of the five brands will factor into the companies’ renewed collaboration.
The previously announced film universe has Allspark producing the films with Hasbro chairman, president and CEO Brian Goldner, Davis, and head of film development Josh Feldman collaborating with Paramount to shape the five interconnected stories.
In April 2016, Oscar winner Akiva Goldsman was also hired to oversee the writer’s room and executive produce for the film universe.