Sesame Workshop will end its long-standing toy marketing relationship with Mattel (Fisher Price) in January 2010, saying it is looking for a more year-round strategy to marketing its iconic brand.
The producer and distributor of PBS's iconic Sesame Street has struck a new, 10-year deal with Hasbro that will allow the toy manufacturer to start marketing toys and branded games based on that shows characters starting on that date.
Hasbro's imprints include Playskool, Milton Bradley, Tonka and Parker Bros.
The deal is billed by the two as a 10-year global strategic alliance for a wide range of educational products based on characters from the PBS kids series including Elmo, Big Bird and Cookie Monster.
Hasbro's own line of characters includes familiar TV faces My Little Pony, Transformers and G.I. Joe.
Why the move from Mattel? Maura Regan, senior vice president of global consumer products, said after doing its due diligence, Sesame Workshop felt that it was "very aligned with Hasbro's strategy," saying the company was "immersed in developing brands that are day in and day out."
She contrasted that with what she said was a more holiday-focused strategy at Mattel.