Hasbro Inc. (HAS) has launched its first-ever game subscription service. The world’s third-largest toy maker announced Monday that its Hasbro Gaming Crate subscription sign-up is now open, allowing for the delivery of an “exclusive collection of games” directly to consumers’ doorsteps every three months. (See also: Hasbro a Buy on Strong Content and Leverage: Jefferies.)
Pawtucket, R.I.-based Hasbro will offer two crate options, one for families and one for adults, which will both feature three new board games exclusive to the brand. Each crate costs $49.99, and are expected to begin shipping by early fall.
A Strong Year for Board Game Sales
The global toy and game manufacturer hopes the new ease and convenience of purchase will make it easier for customers to try new products as Hasbro works to continue boosting revenues, doubling down on its business transformation initiative. The toy maker has succeeded in the beginning stages of becoming more of a comprehensive entertainment company for the digital age, while its rival Mattel Inc. (MAT) struggles to regain ground and win popularity among Millennials.
While Hasbro has bet on technology and multimedia, this latest announcement is a play on the recent strength of its traditional board game business, which experienced a 9% gain last year. The overall game segment is estimated to have grown revenues 20% in 2016, driven by children’s, family, strategy and brainteasers games, according to NPD group.
HAS stock extended a 12-month gain to more than 30%, closing at $111.30 per share on Monday. MAT shares have lost more than 35% of their value in the same time period. (See also: Why Mattel Is Down 25% While Hasbro Is Up More Than 40% in 2017.)