14 DAY TRIAL // Electronic Arts and Hasbro have just made available a strategic licensing agreement that promises to transform the interactive family entertainment landscape. Basically, what the agreement does is that it grants EA the exclusive worldwide rights to create digital games based upon a huge lineup of Hasbro's intellectual properties, such as Monopoly, Scrabble, Yahtzee, Nerf, Tonka and Littlest Pet Shop.
I'm sure there are more titles in Hasbro portfolio but this is all the report speaks of and so I'm just passing on the information not wanting to get anyone's hopes up for nothing. Anyway, EA will be developing interactive experiences for the mass audience, meaning every possible platform out there (handheld, mobile, PC and consoles). They say they'll be launching their first games in 2008.
"The gaming market has never been more primed for a revolution in how families enjoy games," said Kathy Vrabeck, President, EA Casual Entertainment Label. "Hasbro is the ideal partner to help propel this change. Their games define fun. These are games that we all love and remember from our childhoods. The combination of EA's market leadership in the interactive space and Hasbro's timeless franchises is a perfect partnership for today's market. Together EA and Hasbro can create the next generation of fun for a new wave of kids and families."
"Our toy and game brands have been family-favorites for decades, and aligning ourselves with EA will result in broadening the reach of our brands through the 're-imagining' of these beloved entertainment icons in all key digital categories," said Brian Goldner, Hasbro's Chief Operating Officer. "Through the years, EA has proven themselves time and again as an incredibly creative company that delivers amazing content across multiple brands. We are thrilled to work with EA in bringing our brands to the next level in the digital world."
As the report informs, the initial term of the strategic relationship runs through December 31, 2013, and may be extended for an additional four years subject to certain conditions, including achievement of specified performance metrics. However, financial terms of the agreement were not disclosed, but EA has confirmed it does not expect the agreement to impact its second quarter and full year fiscal 2008 financial guidance as provided on August 1, 2007 (just in case any lawsuits pop up in the future)
Of course, Hasbro will be obtaining certain rights to bring select EA franchises to toys and traditional games, as part of the agreement. Don't be upset because today's news were all about agreements and stuff. You know what happens when they go wrong - hot, exciting law-related topics.