Hasbro on Monday announced a global licensing agreement with Playmates Toys to produce and distribute Power Rangers toys.
Under the deal, Playmates will release a kid-targeted Mighty Morphin Power Rangers toy line in 2025. Going forward, Playmates will have the rights to release various action figures, blasters, plushies, role play items, vehicles and accessories. The deal covers all regions except Asia, meaning everywhere Hasbro has control over the brand.
“We are honored to work with Hasbro on the reimagination of this iconic franchise’s toy line for long-time fans and a new generation of children. Playmates and Hasbro speak the same toy language and share a passion for Power Rangers, a multi-generational phenomenon that has stood the test of time,” Karl Aaronian, Playmates’ SVP of Marketing, said in a statement.
Playmates, which primarily makes toys aimed at preschool-age children, became a global powerhouse in the 1980s after they funded the Teenage Mutant Ninja Turtles cartoon and supported it with toy releases. By 1990, the heroes in a half-shell cornered 60% of the action figure market. Today, Power Rangers is set to join Star Trek, The Simpsons and Miraculous Ladybug on the Playmates roster.
Hasbro will retain all other rights to the property and in a release said they will continue to work with licensees in other categories, including on Hasbro Pulse and at industry events. It is unclear what this deal means for high-end figures produced under license by companies like threezero and Super7.
“Playmates’ ability to interpret character-based storytelling in highly detailed, innovative, and affordable products has revitalized several iconic brands, they are the perfect fit to fully expand the Power Rangers franchise,” said Casey Collins, President of Licensed Consumer Products at Hasbro. “While we’ll continue to provide oversight and direction on future POWER RANGERS product ranges, Playmates will leverage its action figure and accessory design, development and marketing expertise to create an entirely new play and collecting experience for fans of all ages. With two powerhouse companies coming together to support a powerhouse brand, the potential is limitless!”
Hasbro, a toy and game company, acquired the Power Rangers brand in 2018 and has been making toys since 2019. Since then, dozens of rangers spanning the series have been featured as Lightning Collection figures. Hasbro has dabbled in releases targeted at collectors, including helmets, morphers and several Megazords.
Fans have long wondered about the future of the television show. While the release mentions the availability of Mighty Morphin Power Rangers: Once & Always and Power Rangers Cosmic Fury, it is silent on the future of the show. Jonathan Entwistle had been tapped by Hasbro's then-production arm Entertainment One to oversee film and television projects while Jenny Klein signed a two-year overall deal in 2022 that would have seen her helm a new Power Rangers series. There has been almost complete radio silence from Entwistle and Entertainment One since. Entwistle has signed on to direct a new entry in the Karate Kid franchise while Hasbro sold eOne to Lionsgate last year.
