Wow… this is one thing I didn’t see coming at all. Especially one month out from the film’s release. Citing the need to convert the film to 3D as it “resonates more with audiences”, Retaliation will not be released until March 29, 2013.
This has to have the folks in charge of the brand spinning. The toy line, which has been trickling into stores, carries a street date of May 28, 2012– just a few days away. Now, without a movie tie-in, those same toys are going to be sitting on store shelves for a full THREE fiscal quarters before the film that was to drive their sales hits theatres. That means that Hasbro will have to come up with an entirely NEW crop of items to tie into the film in order to keep things “fresh” for both consumers and retailers. Also, the entire marketing campaign will have to be reworked– with new trailers, new promotions, and an entirely crop of promotional materials to be produced and distributed. In other words, all of the momentum that was gained during the past few months will have to be regained 100%.
Yeah… what was dubbed the “Year of Joe” is rapidly turning into something else entirely.
The press release is posted below:
G.I. JOE: RETALIATION Film to Be Released in 3D
Hasbro Reaffirms 2012 Guidance that it Expects to Grow Revenues and Earnings Per Share Absent the Impact of Foreign Exchange
PAWTUCKET, R.I., May 23, 2012 (BUSINESS WIRE) — Hasbro, Inc HAS +0.52% , and Paramount Pictures, announced today that G.I. JOE: RETALIATION will now be released in 3D. The film, originally slated for release in June 2012, is scheduled to be released March 29, 2013.
“It is increasingly evident that 3D resonates with movie-goers globally and together with Paramount, we made the decision to bring fans an even more immersive entertainment experience,” said Brian Goldner, Hasbro’s President and CEO.
“In 2012, we continue to have several strong motion picture and television entertainment backed properties that are selling well at retail and our entertainment strategy remains strong and on-track,” Goldner said. “Through our own Hasbro Studios for television and in partnership with several movie studios including Paramount, Universal, Sony and Relativity, we are creating entertainment experiences around many of our highly popular iconic brands. For the full year 2012, we continue to believe, absent the impact of foreign exchange, we will again grow revenues and earnings per share.”
Certain statements in this release contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include expectations concerning the Company’s potential performance in 2012, including with respect to its revenues and earnings per share, and business goals and may be identified by the use of forward-looking words or phrases. The Company’s actual actions or results may differ materially from those expected or anticipated in the forward-looking statements due to both known and unknown risks and uncertainties. Specific factors that might cause such a difference include, but are not limited to: (i) the Company’s ability to design, manufacture, source and ship new and continuing products on a timely and cost-effective basis, as well as interest in and purchase of those products by retail customers and consumers in quantities and at prices that will be sufficient to profitably recover the Company’s development, manufacturing, marketing, royalty and other costs; (ii) global economic conditions, including recessions, credit crises or other economic shocks or downturns which can negatively impact the retail and/or credit markets, the financial health of the Company’s retail customers and consumers, and consumer and business confidence, and which can result in lower employment levels, less consumer disposable income, and lower consumer spending, including lower spending on purchases of the Company’s products; (iii) other factors which can lower discretionary consumer spending, such as higher costs for fuel and food, drops in the value of homes or other consumer assets, and high levels of consumer debt; (iv) other economic and public health conditions in the markets in which the Company and its customers and suppliers operate which impact the Company’s ability and cost to manufacture and deliver products, such as higher fuel and other commodity prices, higher labor costs, higher transportation costs, outbreaks of disease which affect public health and the movement of people and goods, and other factors, including government regulations, which can create potential manufacturing and transportation delays or impact costs; (v) currency fluctuations, including movements in foreign exchange rates, which can lower the Company’s net revenues and earnings, and significantly impact the Company’s costs; (vi) delays, increased costs or difficulties associated with the development and release of planned entertainment supporting the Company’s products and brands and consumer interest in and acceptance of such entertainment; (vii) the concentration of the Company’s customers, potentially increasing the negative impact to the Company of difficulties experienced by any of the Company’s customers or changes by the Company’s customers in their purchasing or selling patterns; (viii) greater than expected costs, or unexpected delays or difficulties, associated with the Company’s investment in its joint venture with Discovery Communications, LLC, to operate THE HUB network and the creation of new content to appear on the network and elsewhere; (ix) consumer interest in and acceptance of the joint venture network, and programming created by Hasbro Studios, and other factors impacting the financial performance of the joint venture and Hasbro Studios; (x) greater than expected costs or unexpected delays or difficulties associated with the creation of Hasbro’s Gaming Center of Excellence and the execution of the Company’s strategy for driving innovation and immersive play experiences in its gaming business; (xi) unexpected delays or difficulties in the Company’s execution of its plans to drive growth and increased profitability in its U.S. and Canada business; (xii) the inventory policies of the Company’s retail customers, including retailers’ potential decisions to lower the inventories they are willing to carry, even if it results in lost sales, as well as the concentration of the Company’s revenues in the second half and fourth quarter of the year, which coupled with reliance by retailers on quick response inventory management techniques increases the risk of underproduction of popular items, overproduction of less popular items and failure to achieve tight and compressed shipping schedules; (xiii) work stoppages, slowdowns or strikes, which may impact the Company’s ability to manufacture or deliver product in a timely and cost-effective manner; (xiv) the bankruptcy or other lack of success of one of the Company’s significant retailers which could negatively impact the Company’s revenues or bad debt exposure; (xv) the impact of competition on revenues, margins and other aspects of the Company’s business, including the ability to secure, maintain and renew popular licenses and the ability to attract and retain talented employees in a competitive environment; (xvi) concentration of manufacturing for many of the Company’s products in the People’s Republic of China and the associated impact to the Company of public health conditions and other factors affecting social and economic activity in China, affecting the movement of products into and out of China, and impacting the cost of producing products in China and exporting them to other countries; (xvii) the risk of product recalls or product liability suits and costs associated with product safety regulations; (xviii) other market conditions, third party actions or approvals and the impact of competition which could reduce demand for the Company’s products or delay or increase the cost of implementation of the Company’s programs or alter the Company’s actions and reduce actual results; (xix) the risk that anticipated benefits of acquisitions may not occur or be delayed or reduced in their realization; and (xx) other risks and uncertainties as may be detailed from time to time in the Company’s public announcements and Securities and Exchange Commission (“SEC”) filings. The Company undertakes no obligation to make any revisions to the forward-looking statements contained in this release or to update them to reflect events or circumstances occurring after the date of this release.
Hasbro, Inc. HAS +0.52% is a branded play company providing children and families around the world with a wide-range of immersive entertainment offerings based on the Company’s world class brand portfolio. The Company’s five major motion pictures to date have generated more than $3 billion dollars at the global box office. From toys and games, to television programming, motion pictures, digital gaming and a comprehensive licensing program, Hasbro strives to delight its global customers with innovative, well-known and beloved brands such as TRANSFORMERS, LITTLEST PET SHOP, NERF, PLAYSKOOL, MY LITTLE PONY, G.I. JOE, MAGIC: THE GATHERING and MONOPOLY. The Company’s Hasbro Studios develops and produces television programming for markets around the world. Programming in the U.S. is distributed on The Hub TV Network, a multi-platform joint venture between Hasbro and Discovery Communications DISCA +0.53% DISCB +1.41% DISCK +0.57% . Through the Company’s deep commitment to corporate social responsibility, including philanthropy, Hasbro is helping to build a safe and sustainable world for future generations and to positively impact the lives of millions of children and families every year. It has been recognized for its efforts by being named one of the “World’s Most Ethical Companies” and is ranked as one of Corporate Responsibility Magazine’s “100 Best Corporate Citizens.” Learn more at www.hasbro.com .
(C) 2012 Hasbro, Inc. All Rights Reserved.
SOURCE: Hasbro, Inc.
Wow…just wow. There are a lot of unhappy people about this news. Comments around the web are how they are going to lose fans over this, how they just killed all the positive energy the built up for the movie, how some now don’t care about the movie, they don’t care about it being in 3D, how it’s going to kill the toy line, just lots of negative reactions. Some are saying Paramnount is doing it because of how bad Battleship did. This is total bull to do it a month from it being released, who is in charge over there? They need to be smacked around a bit. Idiots.