Netflix is expanding its presence in the toy business by striking its first master licensing deal with Jazwares, the company behind Squishmallows plush toys. This agreement grants Jazwares the right to develop a comprehensive 'Stranger Things' product line, including figures, play sets, toy vehicles, costumes, and stuffed toys.
This strategic move builds on Netflix's existing relationship with Jazwares and aims to leverage the immense popularity of its hit science-fiction series, 'Stranger Things.' The Duffer Brothers, creators of the series, have built a rich world packed with 80s nostalgia, which Netflix intends to translate into consumer products.
The expansion into merchandising allows Netflix to diversify its revenue streams and strengthen its brands by offering tangible extensions of its popular digital content. This strategy, previously applied to 'Squid Game' and 'Bridgerton,' enhances fan engagement and brand loyalty, contributing to long-term value creation.
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