Hasbro lowers revenue forecast due to writers’ strike impacting entertainment division.

Hasbro Lowers Revenue Forecast Due to Entertainment Segment Impact

Hasbro has revised its full-year revenue forecast, citing the ongoing writers’ and actors’ strike‍ as a major⁢ factor affecting its entertainment segment, which includes the ⁣eOne film and TV studio. The company now⁤ expects a decline of 3% to 6% in ⁣fiscal 2023 revenue, compared to its previous outlook of a low-single-digit decline. The entertainment segment revenue is projected to decline between 25% and 30%.

Additionally, Hasbro has announced the sale of its eOne film and‌ TV studio to‍ Lionsgate Entertainment ⁢for ⁢approximately $500 million. This move is part⁢ of the company’s strategy to ​focus ‌on⁣ more‌ profitable brands.

(Reporting⁤ by Savyata Mishra in Bengaluru; ‌Editing by Vinay Dwivedi)

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