How might Playmates Toys succeed with Power Rangers? 'It needs focus.'
How might Playmates Toys succeed with Power Rangers? 'It needs focus.'
A Q&A with toy industry insider James Zahn, editor of The Toy Book.
While higher-end toy offerings have been available for fans of larger-scale, adult-oriented action figures, Hasbro’s sunsetting of the Lightning Collection and kid-centric toy line — marred by a miniscule wave of Power Rangers Cosmic Fury toys in fall 2023 — left fans wondering, What’s up?
On Monday, Hasbro answered that with an announcement that it’s entering a “strategic relationship” with Playmates Toys to create and distribute new Power Rangers products, beginning with a kid-focused Mighty Morphin Power Rangers line set to debut in 2025. It’s a seismic development for the Power Rangers brand, with Playmates becoming just the third holder of the master toy rights in its soon-to-be 31-year-old history.
Industry guru James Zahn, editor-in-chief of The Toy Book and senior editor of The Toy Insider and The Pop Insider, was kind enough to answer some questions about the development. A big thank you to him! (And please consider following James on Twitter/X!)
Ranger Reader: What was your initial reaction to this development? As someone-in-the-know, did you have any inkling that something like this might be in the works for the Power Rangers brand?
James Zahn: There have been rumblings that something was afoot with Power Rangers. Hasbro made a big investment in acquiring the IP, but the reality is we’re five years into that era, and the promise of a real push for the franchise never materialized.
RR: From Hasbro's perspective, why might it be better to license the master toy rights for an IP it owns rather than produce products itself? (I know Hasbro's been on a licensing kick lately, but this seems like the biggest and broadest stroke to date.)
JZ: The toy industry is changing rapidly and we’re seeing a trend — not just from Hasbro, but all major toymakers — where licensing pieces of a portfolio to smaller, perhaps more nimble partners can be a win on all fronts. Hasbro has always been in the licensing space, but the introduction of its Blueprint 2.0 plan in the fall of 2022 really changed the size and scope of those efforts. Basic Fun! relaunched Littlest Pet Shop this year and the brand has been embraced. Similarly, Just Play took over FurReal Friends and Easy-Bake Oven while PlayMonster has the Playskool brand.
I think a big distinction with Power Rangers is that this is a brand that wasn’t created by Hasbro like Transformers or G.I. Joe.
The beauty of a deal like this is that Hasbro removes the risk because other companies take on the heavy lifting of developing, producing, and distributing toys. Hasbro just cashes the check while leaning into its focus on “fewer, bigger brands,” as they say.
RR: What do you think makes this proposition attractive for Playmates (beyond the recognizable, generational IP)? What strategic advantages do they have that might allow them to capitalize on Power Rangers, particularly with kids-targeted lines, in a way that Hasbro perhaps didn't?
JZ: Playmates Toys is a fantastic company that’s very well-respected in the industry. They have a process in place that produces consistent results. Look at the quality of the core Teenage Mutant Ninja Turtles collection and the character depth that they’re able to achieve. They seem to hit that perfect sweet spot between pleasing kids and collectors, and they do it affordably. Hasbro has a price perception problem right now and they’re very aware of this. Furby is a great example — they followed the release of last year’s $60 Furby with $10 Furblets that are accessible to more families.
Beyond TMNT, Playmates is also killing it with its MonsterVerse line anchored by Godzilla x. Kong: The New Empire this year. And, you could almost say that Voltron may have been an unofficial audition for making Zords.
RR: Any clue what the terms of a license like this might look like?
JZ: Anything here would be pure speculation, but licensing rates and minimum guarantees have been getting bigger in recent years.
RR: Hasbro made a strong push with its Lightning Collection line of Power Rangers toys, a retail line largely aimed at older collectors but that lived in the kids toy aisle. What lessons do you think Hasbro might have taken from that experiment? As a consumer/fan, it seemed to start strong and peter out due to a mix of factors (QC being a big one). Is there just a ceiling on PR that maybe isn't there for similar collector-oriented action-figure lines Hasbro makes?
JZ: Adult collectors are a fickle bunch. What some might view as a QC issue — particularly on the paint apps side — gets chalked up to being the nature of making toys in some cases. The biggest concern with many collector lines, and I’m talking about all the major licenses, is something called “slicensing.” When this happens, you’ll have multiple companies competing for attention and dollars in multiple scales and it can go off the rails really quickly.
One big problem with the Lightning Collection, in my opinion, is that it went in so many directions with products that became hard to find for some collectors, and that’s a turn-off. And, by being placed in the toy department they were, in theory, targeting kids who may not have been familiar with the various incarnations of the Rangers that were being offered.
Perhaps the biggest issue with the entire “kidult” movement in the past 3-5 years is that too many toy companies have been chasing an aging population instead of focusing on creating awesome toys for kids. There’s a backlash on the “kidult” positioning right now, but the reality is that the kids of today need something to be nostalgic about 20, or 30 years from now.
RR: Jumping from that: Power Rangers was a strong performer in the toy aisle all the way up until Hasbro's acquisition. My perception — and this could be totally off-base — is that it's tapered off considerably. If that's the case, why might that be, and how does that play into arriving at the moment where we are now?
JZ: Streaming changed the game. It’s not like it was 30 years ago when Toys “R” Us couldn’t keep the figures in stock. That was fueled by a hit series that kids had to tune in for. The new Power Rangers content might live in the always-on world of Netflix, but it’s also competing with a multitude of other things that fall off the Top 10 lists very quickly. Mattel’s recent, kid-focused He-Man and the Masters of the Universe is a similar example. While the old-school fans may have hated the animation style, it wasn’t designed for them but it fell off so fast that the toys never had a chance to gain footing.
Power Rangers wasn’t in a great spot when Hasbro picked it up as it was in a bit of limbo following the 2017 film which supposedly lost the studio more than $70 million dollars.
RR: I'd characterize the overall sentiment among PR fans as one of trepidation, at best. What are some reasons they should be excited about this?
JZ: If you love a franchise, you should be happy to see it continue — even if that means content that’s not necessarily designed for you, specifically. The beautiful thing about living in the era of multiversal entertainment is that franchises work in different ways. What’s to say a kid-focused Power Rangers push won’t be accompanied by a more mature, adult-focused extension down the line? The best example of this is Batman. The Dark Knight can be an over-the-top, downright frightening badass; a comic buffoon; or a property for preschoolers. Power Rangers doesn’t have to be one thing at all times.
RR: From a big-picture standpoint, what do you think the core strengths and weaknesses of Power Rangers as a toy line? What are some things the brand could do to appeal to kids in 2024?
JZ: The core strengths lie in a 30-year legacy of storytelling and lore that can be tapped into from several directions — but it needs focus.
Starting the Playmates Toys line with a kid-focused range of Mighty Morphin Power Rangers is the right step, but I hope it’s paired with fresh entertainment content to match. Kids in 2025 aren’t going to care about new toys tied to decades-old episodes on streaming. One big issue with current action brands is that outside of TMNT and preschool lines, kids don’t have many options to build out a real collection to play with. You might find some figures here and there, but without the vehicles, the playsets, etc., they’re not as fun. Personally, I’m looking forward to seeing what Playmates does with this.