Hasbro is a leading toy, game, and intellectual property company that creates and monetizes play experiences across physical and digital platforms globally. The company generates revenue through four main streams: direct product sales of toys and games under iconic brands including MAGIC: THE GATHERING, DUNGEONS & DRAGONS, MONOPOLY, TRANSFORMERS, and NERF; royalties and licensing fees from out-licensing its intellectual properties to third-party manufacturers, digital game developers, and location-based entertainment operators; and digital monetization through free-to-play games with in-game purchases and collectible digital platforms. Products are distributed through mass-market retailers, specialty hobby stores, ecommerce platforms, and direct-to-consumer channels to consumers globally, with competitive advantages centered on a broad and enduring brand portfolio, one of the world's largest and most diverse licensing businesses, and a profitable games operation that collectively reinforce each other to drive sustainable growth and capital generation.