Nilay Patel

Like even the audience in some categories really doesn't want this to happen.

How are you managing that inside a company like Hasbro?

How are you keeping your designers and your creatives protected or empowered instead of fearful?

We have to pause here for a quick break.

Welcome back.

I'm talking with Hasbro CEO, Chris Cox, about how all the IP licensing Hasbro does turns into actual toys and products.

But I actually want to take one step back and ask the decoder questions to set some of that up.

From the outside, just in talking about Hasbro as we have been, it seems like the IP is at the center.

Whether it's you're going to go get the license from Netflix for K-pop Demon Hunters or you have your own like Magic and Monopoly.

There's other stuff.

It feels like the IP licensing, having that is really at the center of the company and then –

You've obviously restructured.

So just talk about how Hasbro is structured now and how the IP licensing flows through the structure you have now.

How does that work with the IP?

So let's say Monopoly.

You're like, we make the Monopoly board game.

That's one division.

But we want to make a Monopoly movie.

And we want to make a Monopoly video game.

Who gets to make those decisions across the structure?