‘Power Rangers’ has been going pretty strong for 25 years, with the show reinventing itself every year or two, drawing a new generation to the franchise. But last year’s ‘Saban’s Power Rangers’ theatrical movie was not the smash brand-owner Saban or studio Lionsgate had hoped for. Lionsgate had planned roughly five movies with the new cast stepping in for the original ‘Mighty Morphin Power Rangers’. While ‘Power Rangers’ didn’t flop, it was nowhere near as successful as Lionsgate needed it to be in order to build a new franchise. Now the toy rights have been surrendered. Saban has relinquished all rights to ‘Power Rangers’ to Hasbro, to the tune of $522 million.
Hasbro had previously entered into an agreement with Saban in regards to ‘Power Rangers’ for $22.25 million to produce new toys. That fee will now be added into the overall buy cost.
According to Hasbro’s chairman and CEO, Brian Goldner:
“Power Rangers is an iconic brand built on a heritage of great storytelling and merchandising with tremendous upside potential when fully executed across Hasbro’s Brand Blueprint,” said Brian Goldner, Hasbro’s chairman and CEO, in announcing the deal. “Shortly after entering into our licensing arrangement, it became clear that now was the time to begin investing in unlocking Power Rangers’ full potential. We see significant opportunity for Power Rangers across our entire Brand Blueprint, including toys and games, consumer products, digital gaming and entertainment, as well as geographically throughout our global retail footprint.”
Haim Saban added:
“25 years after launching Power Rangers, I believe the future for this brand has never been greater,” said Saban in a press release announcing the deal. “Hasbro’s leadership in innovation, storytelling and brand stewardship make it the perfect company to further develop the global reach and appeal of the Power Rangers property. I look forward to working with Brian and the team in the years to come.”
In addition to ‘Power Rangers’, Hasbro will acquire My Pet Monster, Popples, Julius Jr., Luna Petunia and Treehouse Detectives. (I have no idea what those last two are.)
The ‘Power Rangers’ TV series is inching toward having 1,000 episodes. There could potentially be many millions for Hasbro to reap by acquiring this long-lived brand.
Source: Deadline
