As we go deeper into financial mealstrom, it strikes me that now is a good time for brand owners to re-consider the strength that their brand have in terms of familiarity. When things are difficult it's human nature to retrench into the things we know.Hence the genius of Hasbro's strategy to get huge buy-in from Hollywood talent to take their toy brands onto the Big Screen. Hasbro's first-quarter profit in 2009 was down 47% compared with the same period the year before, to just more than $19 million. but they ae confident that all teh revenue from their up-coming film releases (Transfromers 2 and G.I. Joe) will get them back into growth.
All brand owners should consider this - brand extensions will flourish in these market conditions.
Other Hasbro brand projects that are in development;
1) Battleship: Peter Berg ("Friday Night Lights") is in negotiations to adapt the Milton Bradley naval-warfare game for the big screen.
2) Ouija: "National Treasure" screenwriters Cormac and Marianne Wibberley are in negotiations to write a script inspired by the Parker Brothers do-it-yourself seance; "Transformers: Revenge of the Fallen" director Michael Bay will produce.
3) Candy Land: "Tropic Thunder" screenwriter Etan Cohen is adapting the 1940s children's classic, with Kevin Lima ("Enchanted") directing.
4) Stretch Armstrong: "Bruce Almighty" screenwriter Steve Odekerk is putting the final touches on a superhero-comedy script based on Kenner's long-defunct, elastic-limbed muscleman of 1976.
5) Monopoly: "Corpse Bride" and "Monster House" screenwriter Pamela Pettler is writing a script based on the real-estate chestnut, with Ridley Scott directing and producing.
6) Clue: "Pirates of the Caribbean" director Gore Verbinski was hired in February to attempt a (second) film adaptation of the classic Parker Brothers whodunit game.
