Chapter 1: What is the main topic discussed in this episode?
Hello, I'm Stephen Carroll. I'm in Brussels, where many of Europe's biggest decisions get made.
And I'm Caroline Hepke in London. We're the hosts of the Bloomberg Daybreak Europe podcast.
We're up early every weekday, keeping an eye on what's happening across Europe and around the world.
We do it early so the news is fresh, not recycled, and so you know what actually matters as the day gets going.
From Brussels, I'm following the politics, policy and the people shaping the European Union right now.
And from London, I'm looking at what all that means for markets, money and the wider economy.
We've got reporters across Europe and around the globe feeding in as stories break.
So whether it's geopolitics, energy, tech or markets, you're hearing it while it happens.
It's smart, calm and to the point.
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Chapter 2: What strategies is Hasbro implementing to reduce tariff exposure?
And then moving forward, probably 90 to 95% of our investment are focused there. And I think that's what investors are appreciating today about our story.
So if that's the case and the success, Chris, are you going to be making more Magic the Gathering video games?
Well, we have Magic the Gathering Arena, which has been a very successful product for us. It's probably the most successful onboard to Magic. We will be continuing to invest in that platform.
Chapter 3: How has Magic: The Gathering contributed to Hasbro's revenue growth?
And certainly, we have probably 10 games in development. Magic is certainly an important brand for us inside of that pipeline.
I wanted to ask about your move. You know, I visited you guys, I was lucky enough to go to Wizards in Seattle, and I also came up to your place in Pawtucket, Rhode Island, my first time in Rhode Island, but you're moving up to Boston, or you've moved up to Boston, Massachusetts.
What drew you to Beantown, and what do you make of, I guess there are different tax treatments and different politics there, so how have you settled in?
Well, I'd say politically there isn't a huge difference between Rhode Island and Massachusetts, so that wasn't a real factor for us. You know, Hasbro has deep roots across New England, particularly in Massachusetts. Milton Bradley was founded there back in 1860. Parker Brothers was founded in Salem, Massachusetts, I think, back in the 1890s. So we're no strangers to Boston.
Really what we were looking for is we were looking for a bigger market in terms of the number of people that we could recruit. Boston is roughly eight to nine times the size of Pawtucket and certainly Providence where we've been based. And then it's just easier access. A big part of our business is partnership. It's partnership with retailers, it's partnership with licensors.
We have over 1,000 partners crossing 5,000 collaborations, and it's nice to be in a major travel hub like Boston because it just makes it easier for us to be accessible and easier for us to get to our partners as well.
Chris, by the way, is no stranger to Boston, or I should say to Cambridge, right, because he went to Harvard. Oh, never heard of it. No big deal. No big deal. And, by the way, he played football at Harvard. See, I used to think Magic and D&D were, like, games for nerds. But I meet people like Chris and Gina Getter, who used to work at Harley-Davidson.
I met, like, the strongest man in the world in Seattle, who is, like, the head of their Magic division there. Hi, Magic.
My cousin loves Magic the Gathering, and he is awesome.
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Chapter 4: What insights did Chris Cocks share about Hasbro's quarterly performance?
Which, by the way, doesn't mean that you're not a nerd, Chris, because nerds are fantastic and wonderful people. So I don't think we should brandish that label. Hey, just before you go, on this topic of Rhode Island versus Massachusetts, because Rhode Island at the moment is debating this millionaire tax, something that Massachusetts already has something similar.
As a CEO, how do you feel about that? Does it change at all the business environments, or is it something you support? How do you think about that?
Well, I try not to make business decisions based on my personal finances or personal situation. You know, moving to Boston had a lot of talent advantages. It had a lot of transportation advantages. And it's just a big, dynamic city. So that's really how we thought about that. We actually have a dual HQ. So Boston is one side of our HQ. Seattle's the other.
And that just represents kind of where our business is. Boston really anchors toys and licensing. And Seattle anchors our gaming business.
Hey, Chris, we really appreciate your time today. Hasbro CEO Chris Cox, please come join us again soon.
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