Hasbro Secures Multi‑Year Legend of Zelda Licensing Deal Starting 2027

Hasbro has entered into a multi‑year licensing agreement with Nintendo to develop and bring products based on the iconic Legend of Zelda franchise to market, with the licensing deal set to commence in 2027. This marks a notable expansion for Hasbro’s consumer products lineup, particularly within its toys and games segment.

New Licensing Deal Details

The agreement, publicly disclosed on July 16, 2026, grants Hasbro the rights to produce a wide range of Legend of Zelda merchandise—spanning action figures, plush toys, and collectibles—beginning in 2027. Nintendo’s storied franchise, celebrated for its deep lore and enduring fan appeal, is expected to enhance Hasbro’s product breadth and seasonal offerings.

Strategic Implications for Hasbro

This partnership diversifies Hasbro’s portfolio with a globally recognized IP. Having achieved robust growth in both the Wizards & Digital Gaming and Consumer Products segments earlier this year, secures a potential new revenue stream. The timing aligns with preparations to capitalize on Legend of Zelda’s loyal fan base alongside broader collectibles demand.

Context Within Hasbro’s Recent Performance

In the second quarter of 2026, Hasbro posted strong segment gains. Wizards & Digital Gaming drove a 27% increase in revenue versus last year, led by a 32% contribution from Magic: The Gathering, which surpassed $500 million in quarterly revenue for the first time. Consumer Products also grew 5% year-over-year, helping raise full-year guidance. — These developments provide a healthy backdrop for launching new licensed offerings. However, a $56 million non‑cash impairment tied to the company’s decision to refocus its digital games portfolio beyond 2028 was also recorded. These financial results reflect both momentum in core franchises and a realignment of long-term gaming strategy.

Looking Ahead

As the deal becomes active in 2027, investors and industry observers will watch closely to see how Hasbro translates its stewardship of the Legend of Zelda brand into consumer traction. The prior recent performance of major franchises like Magic: The Gathering demonstrates the company’s proficiency in monetizing beloved IPs. The new licensing agreement could further reinforce Hasbro’s growth trajectory in both collectibles and broader merchandise channels.

Despite the agreement’s promise, the deal begins only next year and does not impact current-year financials. Key metrics such as product launch timing, pricing strategy, and distribution scope will be critical to assess its ultimate impact on Hasbro’s performance in subsequent years.

In sum, the licensing deal with Nintendo to produce Legend of Zelda products represents a strategic expansion of Hasbro’s consumer products slate—one worth monitoring as it unfolds in 2027.