Paramount Pictures and Hasbro have announced they are to continue their relationship with a new five-year deal that will see the companies collaborate to produce live-action and animated content, with Hasbro’s Allspark Pictures and Allspark Animation playing an active role alongside Paramount Pictures in development and production.
Hasbro and Paramount have previously partnered on five mainline Transformers movies and two G.I. Joe movies, as well the upcoming Transformers spin-off Bumblebee which is slated to release in December 2018.
“Paramount has been a valuable partner of Hasbro’s for more than a decade, and we’re looking forward to taking our relationship to the next level,” said Brian Goldner, chairman and CEO, Hasbro. “Storytelling, in its many forms, is revolutionizing our business and differentiating Hasbro in all sectors where we operate. We look forward to collaborating with the talented team at Paramount to create powerful new stories for kids, fans and families globally.”
The terms of the relationship remain under wraps but the announcement specifies that Paramount will partner with the toy firm on financing projects at varying levels of investment, with Paramount distributing projects products during the five-year term.
“Hasbro has an enormous array of exceptional brands, so this expansion of our relationship is incredibly exciting,” added Paramount Pictures chairman and CEO, Jim Gianopulos. “We look forward to working with Brian Goldner and Stephen Davis and the Hasbro and Allspark teams to create extraordinary film properties for all audiences.”
Hasbro recently hired Greg Mooradian as president of Allspark Pictures, with responsibility for live action film and television. Allspark Animation, the company’s label for animated film and television content, is led by Hasbro’s Meghan McCarthy. Hasbro acquired Boulder Media in 2016, a leading animation studio based in Dublin, Ireland, to produce its television and film animation. Hasbro Studios, its distribution arm which the company founded in 2009, distributes TV and digital content to more than 190 territories globally. The entertainment division reports to Hasbro’s chief content officer, Stephen Davis.