In turbulent times, parents turn to toys to keep their kids happy. That has helped propel sales at some of the biggest toymakers in the U.S., including Hasbro, the largest producer of board games.
Hasbro has more than 1,500 brands, including Monopoly, Play-Doh, Jenga and Transformers and designs and distributes toys for some of the biggest names in the entertainment world, such as Marvel and Star Wars. It also makes TV shows, movies and digital games.
Hasbro said in April that its first-quarter net revenue increased 1% from a year earlier to $1.1 billion. The toymaker's consumer products segment jumped 14% during that period.
"The toy industry actually put up one of the strongest growth years we've seen, at least in my 20-year career tracking it," said Jefferies analyst Stephanie Wissink.
And it's not just kids who buy Hasbro games. The toymaker has a roster of over 40 million competitors worldwide who play fantasy world-building games like Magic: The Gathering and Dungeons & Dragons.
In 2020, Hasbro's Wizards of the Coast studio had its biggest year ever, with revenue of $816 million, a 24% increase from a year earlier.
But once the pandemic subsides, will family game night endure? And what does the future of toys and games look like for Hasbro and its rivals Lego and Mattel?
Watch the above video to find out more.