Hasbro unveils ‘Playing to Win’ strategy through 2027

Hasbro (HAS) is unveiling a new strategic plan, ‘Playing to Win’, taking the company through 2027. At the heart of Playing to Win is Hasbro’s mission to create joy and community through the magic of play. Through play-fueled engagement and partner-scaled co-investment, Hasbro will seek to expand its reach from over 500 million kids, families, and fans today to over 750 million by 2027. Through 2027, we expect an average of mid-single digit revenue growth and 50-100 basis points of annual operating profit margin improvement. By 2026 Hasbro’s gross debt to adjusted EBITDA ratio is projected to stand at 2.5x. And by 2027 Hasbro’s operational excellence program is expected to deliver $1bn of gross cost savings, with approximately half dropping to the bottom line. Chris Cocks, Hasbro’s CEO, said: “Play is a universal human need and a strong basis for a business that has the purpose to endure, as Hasbro has proved over the last 164 years. Playing to Win unlocks Hasbro’s strengths: a broad and deep brand portfolio rooted in play, an unmatched licensing business, and a profitable games business anchored by world-renowned franchises fans love like Magic: The Gathering, Monopoly, and Dungeons & Dragons. Our new strategy is grounded in the key insights which will drive Hasbro’s evolution into a modern play company: serving fans of all ages around the world at every price point, and meeting fans where they are playing, which is increasingly online.” Playing to Win includes five strategic building blocks: Profitable Franchises: Asserting the fundamentals of profitable, play-focused brands. Aging Up: Increasing the play and collectible appeal for fans aged 13 and above across Hasbro’s brands. Everyone Plays: Expanding reach in opportunity areas including girls and emerging markets. Digital & Direct: Building video games, services, and e-commerce capabilities. Partner Scaled: Driving profitable reach through outstanding retail and licensing partnerships. Hasbro is introducing a new prioritization matrix to assess brands, markets and channels that will drive internal clarity and resource allocation. Growth Brands and channels with the highest growth and margin potential will receive higher incremental investment, including Magic and Play-Doh, emerging markets, and Hasbro’s self-published video game efforts. Opportunities with a lower growth or margin profile will see more targeted investments to grow share and optimize profitability.