Game plan: Hasbro’s strategy to reinvent its icons for a new gen

0:01So I think when it comes to kids and play, it's no secret we're in a loneliness epidemic. and that actually starts with kids. And at Hasbro, we've done a ton of study on this, which I love because it gives us such a great purpose in what we do. And we've really found that learning to communicate with people starts with play and it starts as a kid. To thrive in a rapidly evolving landscape, brands must move at an ever-increasing pace. I'm Matt Britton, founder and CEO of Suzy. Join me and key industry leaders as we dive deep into the shifting consumer trends within their industry, why it matters now, and how you can keep up.

0:42Welcome to the Speed of Culture.

0:48Up to the Speed of Culture podcast, we are thrilled to welcome Jessica Murphy, the Vice President of Global Marketing Strategy and Operations at Hasbro. Jessica's career sits at the crossroads of creativity, strategy, and consumer culture, leading iconic brands like Peppa the Pig, Transformers, and Play-Doh into new eras of relevance. Jessica, so great to see you. Great. Thank you. Happy to be here. Absolutely. So you are such an interesting copy at such an interesting time because many are questioning what is the future of creativity and even play in an era of AI? How do you look at kind of the formation of creativity in the very important upbringing years of children as the world changes so fast with these incredible new innovations that we're seeing?

1:30That's a big question. So I think when it comes to kids and play, it's no secret we're in a loneliness epidemic. And that actually starts with kids. And at Hasbro, we've done a ton of study on this, which I love because it gives us such a great purpose in what we do. And we've really found that learning to communicate with people starts with play. And it starts as a kid. And we're living in an era now where I'll just throw out a few stats. There's so many, but 30 % of our kindergartners have lost recess. Kids age six to 11 has 25 % less free time for play than they did 10 years ago. And that's turning us into adults that don't really understand how to connect and communicate with people that are inner family circle or close-knit group of friends, right?

2:23So we have a generation of lonely adults. And it sounds terrible, but it's actually so impactful to health. Again, just some statistics. Being lonely is the equivalent of smoking 15 cigarettes a day. It increases your risk of dementia by 20 percent. It increases your risk of infectious disease, your risk of premature death by 26 percent. So how can we raise a generation of kids who understand how to connect with people and who understand the importance of connecting with people? And play is foundational to that. So we need to keep kids playing. We need to keep kids playing in real life. So then that brings us to this dichotomy of this age where everything is getting more and more and more digitized.

3:07So we're more connected to each other than ever, but we're actually lonelier than ever. So how do we navigate that? And I think one of the ways that we're trying to do it with our IP is to make sure that we're generating experiences across the spectrum. So if you play Monopoly, you have Monopoly Junior to play as a kid. You have the classic Monopoly to play with your family. You have Monopoly Go, which is a card game that you can play on the go. And then we have the hugely popular partnership with Scopely, which is Monopoly Go on your phone. And so we offer all these different ways to play so that our IP is a connection point for people, whether physical or digital.

3:49But we always want to make sure that we're offering people a chance to connect in real life with our IP. So kind of a long winded answer. But I think we're really looking for the points to connect people in both of those ways. I think also coming out of COVID and with awareness of the loneliness epidemic, in real life experiences are becoming more and more important and more and more sought after. And I do think that's going to continue, which is a benefit for us. Why is play being deprioritized for kids at younger ages? Like what's going on in the education system that's forcing administration to take away recess?

4:25I mean, I've never heard of that before. I know. A lot of it's budget cuts. A lot of it is trying to squeeze in more with less staff, less resources. So you have that on one end of the spectrum in school. And then out of school, you have parents who are scheduling their kids more and more and more, right? More sports, more tutoring, more afterschool activities. And then you couple that with the fear that we've begun to have as parents of just letting our kids outside to play. I mean, I think you and I are from a similar generation where we grew up and we kind of went outside and maybe we came home for dinner, but maybe our mom had to like call around to different houses to find out where we were.

5:07That doesn't really happen anymore. And I don't know if you've read the book, The Anxious Generation, but it's all about the fact that parents today fear real life situations for their kids. And what they really should be fearing even more is unsupervised digital experiences for their kids. So I'm hoping that that awareness continues to grow and we try to push our kids out into the real world a little bit more because, again, that riding bikes with your friends after school, that kind of doing your homework together, that's how you learn to navigate real world problems and real life experiences as an adult.

5:46Yeah. And of course, at the heart of play is creativity. And what we're seeing in the workforce is the very nature of creativity is being redefined. Because if you look at some of the tools, especially some more recent AI tools that Google has pushed out where anything you can dream of, you can make a video or an image of, and you are no longer bound by having a specialist or a graphic designer do that for you. So it used to mean creativity was held back by your technical ability to use Photoshop or in some ways even write. But now it's really just if you have the idea, you almost have much more potential than ever before.

6:24Like ideas now have so much more potential because you don't have the same dependencies as we did even two or three years ago. So I've been thinking about that a lot recently because when you think about how kids are raised in school, they're taught to color inside the lines. But I think moving forward, the robots are going to be able to be incredible at coloring inside the lines. But what they're not going to be able to do is color outside the lines and actually symbolize in ways that make us unique as humans. I just want to know, what are your thoughts on creativity and how that's going to evolve given all that?

6:55Yeah, it's fascinating. I think generative AI is a huge problem solver for everybody with a great idea, just like you said. But it hasn't gotten to the place where it can come up with the creative ideas yet. So you still need the human there. And I don't think it ever will, Jessica, because like so much of our creativity comes from our human life experiences, whether it's falling in love or getting your heart broken or having something amazing happen to you in the real world or whatever it may be. And so I think that input is really the core to our humanity moving forward. I hope you're right.

7:27I really hope you're right. I think a lot of people out there hope you're right. And I do, I do think you're right. And true creativity, a lot of times comes from solving a human need. And machines are never going to understand human needs the way humans understand human needs. But I think that's very much how we're approaching AI at Hasbro and those tools at Hasbro. Like, help them accelerate human creativity, not replace human creativity. Yeah. Have you guys given any thought to a world where the power of AI can be actually embedded into the product? So, like, a kid can talk to Peppa the pig and Peppa the pig can teach the kid?

8:03To me, I feel like that technology is possible right now. Are those types of innovations, things that you're working on? And when do you see products like that, not necessarily Hasbro, but in the industry in general, come to market? So we've heard whispers about Barbie coming from Mattel. We certainly have ideas in incubation at Hasbro. I think we just want to be sure that they're going to work as expected. And be a good thing for kids. because sometimes like the imagination gets taken away if the toy starts talking to you. Right, and wouldn't it be a disaster if you had an AI hallucination as a four-year-old was playing with their Peppa Pig doll?

8:41I think it's a really good point you make about imagination. You want to make sure you're not hijacking the play. Like how do you keep it interactive but still let the child steer the play and use their imagination for the play and be the master of the play? And then also, how do you really make sure the technology is ready for that? because going out too soon could be disastrous for our IP. Sure. So speaking of your IP, obviously you have lots of great IP within the business and these are brands and properties that have been around for a very long time. How do you make sure that they stay relevant with new audiences and how much of your work is creating new IP versus leaning in and trying to create new use cases and growth opportunities for existing IP?

9:25It's a good question. I'm really not in the business of creating IP. It usually gets to me once it's partially formed. And then in my role as a marketer, I help shape it to the consumer insights and the marketing strategies that I think can really bring it to life for the consumer. I have been in the fortunate position of helping to reimagine legacy IP and relaunch and reboot legacy IP. So first for Teenage Mutant Ninja Turtles when I was at Paramount. obviously a huge group effort, but something I was able to play a part in from a retail and a consumer products marketing perspective. And now at Hasbro, we're looking toward the relaunch of My Little Pony.

10:06And I've been working really closely with the franchise team on how to make that more relevant for the girls of today. You think about the IP, it's been around for 40 years and the theme has always been friendship. And friendship is always relevant, especially to girls, but now even more and more so to moms and adults as we face this loneliness epidemic. So now you have multi-generational fans of My Little Pony. And our goal is to teach little girls how to be friends and how to make friends and how to be a good friend and remind the teens and tweens and moms and even grandmas now who grew up with the IP how important their friendships are.

10:47And so it's kind of taking that legacy and bringing it forward into a new generation and making sure that it's relevant to all the fans. Turtles is much the same way. Like it's 30 plus year old brand and you have dads who are fans bringing it to their young kids. How do you make sure you have something fresh and innovative for those dads and fans to collect while you're keeping the turtles talking in the way that kids talk now on all of the channels and relating to the kids in fun, interactive, relatable ways. So those are things we're always thinking about. How can we keep our brands fresh and relevant, not just for kids, but for all of the age demos we service?

11:27Yeah. Interesting. I mean, of course, at the end of the day, this IP needs to bottle up into product that sits at retail or on Amazon for consumers to purchase. What is working in the toy industry here in 2025? What are some of the products that are taking off and the audiences that are seeking them? I think tactile play is a really big one. Like slime and Play-Doh oriented stuff? Things like that, right? And that is directly tied to anxiety in kids and the fact that they need to play with something tactile is why ASMR videos are so popular. It's why those pop-it toys were really popular. Like sensory, like it's ADHD as well.

12:08It's a big part of that. Yeah, and actually we've had meetings at Hasbro where we pass around little cans of Play-Doh and we just find that if people can keep their hands busy molding clay or, you know, as they talk, the ideas come out faster and the inhibitions go away and you stop overthinking things. So that tactile play experience, I think is really, really coming back. Fashion, I think, remains really big for young girls. I think the brands that get it right offer them the right blend of what's new and hot, but also really making room for them to express themselves. So I see toys where girls can accessorize, girls can play with hair, girls can play with nails and makeup.

12:51And it's not really even just a form of beauty. It's a form of self-expression that I think is really catching on more and more with young girls today. And then in the boys space, you have your tried and true action figures and vehicles. But I think, again, the brands that are winning are just modernizing it and they're connecting them to digital experiences and they're putting them in video games. And again, going back to what I was saying about physical to digital experience in play and being able to offer kids the ability to go back and forth seamlessly. Yeah. I think that having the multitude of touch points with whatever asset, because digital is becoming a bigger part of kids' lives for better or worse.

13:32I mean, I do not envy the job right now of an educator to try to figure out like, what does teaching tomorrow's leader mean in a world where you really don't know what the jobs are going to be that exist in 2030 or 2035? It's just, we're in a whole new world right now where I think people are kind of reinventing while they're on the fly. Absolutely. But I think To your point earlier, I think it's ideas. Ideas are never going to go away. Human ideas and ideation and creativity, I think, are always going to win. We'll be right back with The Speed of Culture after a few words from our sponsors. So in terms of, we talked about the products and obviously we're all aligned that the notion of creativity and play is changing.

14:17What's working in terms of bringing your messages to market to drive consideration, ultimately purchase for the new products that you bring to market? What are some of the retail channels and what are some of the creative approaches and storytelling based approaches that you're finding effective? Yeah, well, when you're talking about kids these days, it's really YouTube and gaming and influencers. Those are the three places they're really dialed into. And I think you can see the most success when you can connect those channels to your retail channels in any meaningful way. So we're seeing that we are amping up our investment on the Amazon media channels of the world, the Walmart Connect channels of the world, the Roundel channels of the world, because they're making such big innovations in how they're connecting to upper funnel media tactics.

15:11So you put an ad on Roku, it connects directly to Walmart. If you put an ad on Amazon Prime, it connects directly to purchase. And then you have this data funnel from awareness to consideration to purchase that was hard to piece together previously. So I think technology is making it easier and easier. and even though platforms are bifurcating, they're continuing to proliferate, kids are mainly gaming and watching YouTube and so those are the primary ways that we wanna reach them. I think in terms of messaging, the experiences you can create in games literally allow you to play with the IP and we're all about play, so that's a win.

15:55And then when it comes to creators and influencers, it's really about giving them free reign to be themselves with your product. Kids can sniff out inauthentic content probably even faster than adults can. So it's really, really important to just kind of release your hold on the IP a little bit and allow it to adapt to the play experience in the game and allow it to become what the creator wants it to become in that moment. And I think that's the most effective way to generate interest right now. And then again, going down the funnel to the performance media and seeing that connectivity is where we're really seeing success.

16:33How much work have you guys done in the world of creators? Obviously, when you talk about YouTube and you want to go under eyeballs, not to mention Instagram when kids come 14, to those that wait till 14, none of them do. How important is the creator economy to your ongoing strategy to make sure that you're where your audience is? extremely important. We deal with creators on all levels. We see them as a paid media channel and we engage them specifically through the marketplaces. We see them as brand ambassadors with bigger deals and contracts where they become the face of our brand for a certain period of time and we engage with them over and over.

17:11And then we have fan communities that are diehard fans of our brands and that's a gift. So really you think about them when you develop product and keep the product in their hands. And that's really the special sauce there because they're a free mouthpiece for you, but they want to feel like you're thinking about them at all times and you're creating for them and they want to be the first or among the first to receive our products. So It's really three tiers for us. It's that kind of collector, creator fan community, inherent fans that we just have to kind of keep in our fold and keep really engaged.

17:50Then there's creators as a paid media channel kind of coming in over that. And then there are those bigger deals where we have a celebrity or a creator face of the brand that becomes a more meaningful tie to the IP. Right. And I would imagine, depending upon the property, a big part of your role is also marketing to the parents. and when it comes to obviously data collection, you can't collect data of kids under a certain age, nor would a company ever, Hasbro ever do that to begin with. So what is marketing to the parents look like? And what's the overall split when you think about, okay, I need to drive volume for the holiday season.

18:24How much of your time is thinking about driving influence from the younger kids or actually reaching the parents directly? That's a hot, hot topic for us. It really varies by IP. It really does. We have to look at the IP and we have to really comb the insights and look at who's driving purchase. And it used to be back 10 years ago when I was at Nickelodeon that when we were talking about preschool IP, we were talking just to parents. We wouldn't even bother. We'd let the content do the work with the kids and the commercials would go to the parents. Now we're finding kids are driving that purchase power younger and younger, starting at the age of four.

19:02So we really have to talk to the kids when we're selling Play-Doh, but we also have to talk to the parents. So we're always thinking about what's the split. And if one has to go away, which one is it? And we're constantly looking at our campaigns and testing. We'll launch something and say, let's just talk to parents in this specific DMA or market and see if that moves the needle versus this specific market where we're just talking to kids and see which has a bigger influence so that that can continue to shape the split going forward. So there's no one formula. It varies by every single brand, every single season, based on the insights that we're seeing come from purchase.

19:40Makes sense. Yeah, it's something I've always wondered about in terms of your industry and how you go about going to market. So let's shift gears a little bit as we wrap up here. Jessica, you've had such a great career and you've spent time working at so many great companies like Viacom and Nickelodeon, PopSockets, of course, now Hasbro. When you look back on your career, What are some of the things that you've consistently done right along the way to continue to be a valuable executive and a really effective leader at these organizations? Adapting to change. I think that's the single biggest leg up I've had.

20:17I'm someone who kind of thrives on change and dynamic circumstances, and I love to continue learning. and change, I think a lot of people fear it or let it trip them up. And I think that something that I've always embraced is new challenges. And I've always said that to my team. It's not a waste of work. It's a pivot or it's a learning opportunity. Something goes away. It's an opportunity to get started on something new. And I think that goes a long way in the corporate world. And I think more and more so as we all evolve and we're in this period of rapid technological shifts, the ability to adapt to change, I think, is really valuable.

20:59For sure. I think now change is the only constant. The only thing we can bank on is that things will look nothing like they look today, five, 10 years from now. So it's just, we're in a fascinating time. And in that regard, what advice would you have for some of our younger listeners here on the podcast in terms of some of the things that they should lean into or focus on earlier in their career to set themselves up for success in the world of marketing? Yeah, I think that the days of being a deep, deep specialist in one thing and that being the most valuable tenet are slowly going to go away with the advent of AI.

21:35I would advise people now to get as much experience in as many different facets of marketing as they can, because first of all, you get to know what you like and that in itself is powerful, right? You get to know where you want to lean in, but also it makes you a generalist and it really lends to being a strategic marketer and leader in the future. Yeah, and I would say it also future proofs you, right? Because you don't want to focus on, let's just say, search engine optimization if two years from now, everyone's searching for things on ChatGPT. And that's just one example. And some would say, yeah, well, it carries over.

22:10Okay, but there's a lot of specialism and technical details that won't apply. And I think if you're broad and you have a much wider aperture of marketing and of the consumer, then those skills will be applicable no matter where the world is as your career progresses. Absolutely. I couldn't agree more. And I think that it also allows you to really understand when you're marketing a product or a service or a brand, what levers do you want to pull? The knowledge of all the levers really allows you to understand how you want to shape a campaign. Absolutely. That's fantastic advice. So we always wrap up our podcast by asking our guests if there's a saying or mantra that's kind of encapsulated their career journey today and would love to know what comes to mind for you.

22:53Yeah, mine is from my dad. And I love this question. I had to think a bit and then I was like, oh, wait, no, it's this. He always said, be brave when I was little, up until he dropped me off at my dorms freshman year. He taught my sister and I, I think, directly and indirectly that fear is a paralyzing emotion. And so whenever we were going into an uncertain circumstance, he said, be brave. And I like to remember those words on a daily basis. Yeah, it's fantastic. And in this day and age, I think young people need that more than ever before. You talked about the fear of letting kids play alone outside and that's a whole nother podcast episode.

23:29But I think being brave right now is important because it can't prevent you from seeing the sunshine or crossing the street or traveling or you have to seize the day, so to speak. So I think it's fantastic advice and a great point to end our chat today. So thanks so much for joining, Jessica. It's been a fantastic discussion. Really appreciate all the great insights and wishing you nothing but success as we head into the busy holiday season for Hasbro. Thank you so much, Matt. Great to be here. Absolutely. On behalf of Susie, I'd be keen. Thanks again to Jessica Murphy, Vice President of Global Marketing Strategy and Operations at Hasbro for joining us today.

24:00Be sure to subscribe, bring your view to Speed of Culture podcast on your favorite podcast platform. Till next time, season one, take care.

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