Hasbro Scores Harry Potter Toy Deal as Wizarding World Hits 25th Anniversary

Warner Bros. Discovery shook up the toy aisle this week.

The entertainment giant announced a multi-year licensing partnership with Hasbro on 10 February, naming the Rhode Island toymaker as the global primary licensee for Harry Potter products starting in 2027. The move ends Mattel's longtime grip on the wizarding world toy market, which stretches back to the early 2000s when the first films hit theatres.

Hasbro's lineup will span dolls, action figures, board games, role-play items, interactive plush, and collectibles. The products will draw from both the classic film series and the upcoming HBO Harry Potter television series, which is slated to debut in 2027.

Tim Kilpin, President of Toys, Games, Licensing and Entertainment at Hasbro, called the partnership a natural fit. The deal arrives as Harry Potter marks the 25th anniversary of its first film.

25 Years of Magic

Harry Potter and the Philosopher's Stone premiered on 16 November 2001. Since then, the franchise has ballooned into an entertainment juggernaut worth an estimated $25 billion. The eight films alone pulled in $7.7 billion at the global box office.

Warner Bros. is celebrating the milestone with a packed calendar of events throughout 2026. All eight films return to cinemas worldwide from 27 August to 3 September, with the first film featuring 10 minutes of never-before-seen behind-the-scenes content.

Other anniversary activations include:

• Butterbeer trucks touring major cities from March through May
• Special product collections featuring a new Patronus-inspired 25th anniversary logo
• Limited-time experiences at Universal theme parks during Back to Hogwarts season (1 August to 1 September)
• Warner Bros. Studio Tour London summer feature from 7 May to 7 September
• Harry's birthday celebrations on 31 July with exclusive merchandise drops

Robert Oberschelp, President of Warner Bros. Discovery Global Consumer Products, described the Harry Potter fandom as "one of the most passionate and enduring fan communities in entertainment history."

The anniversary comes at a strategic time. The HBO series begins filming at Warner Bros. Studios Leavesden, with each season adapting one of J.K. Rowling's novels. The show debuts in early 2027 across HBO and HBO Max in select markets, including Germany, Italy, and the UK.

What This Means for Mattel and LEGO

Hasbro's new status as primary toy licensee raises questions about existing partnerships.

Mattel has produced Harry Potter toys since the franchise's theatrical debut. The company's relationship with Warner Bros. spans merchandise for the films, themed products, and various collector's items.

LEGO's position appears secure. The Danish company announced eight new Harry Potter sets for 2026, including the 25th Anniversary Collector's Edition featuring a poseable Hedwig and Moving Wizards Chess. Four additional sets, Hogwarts Castle Sorting Ceremony, Hogwarts Castle Hospital Wing, Secret Potions Classroom, and Luna Lovegood's House, each include a collectible Patronus figure.

The LEGO Hogwarts Castle, a 6,020-piece behemoth retailing at $469.99, remains one of the brand's largest builds.

Warner Bros. hasn't clarified how the Hasbro deal affects these existing arrangements. The licensing agreement takes effect in 2027, giving current partners time to adjust.

Gaming Connection

The Hasbro announcement arrives as fans await news on another major Harry Potter project.

Hogwarts Legacy, the open-world RPG from Avalanche Software and Warner Bros. Games, sold over 30 million copies after launching in February 2023. The game became the best-selling title of that year, an unusual achievement outside of annual franchises like Call of Duty.

Warner Bros. confirmed in September 2024 that a Hogwarts Legacy sequel ranks among the company's top priorities. CFO Gunnar Wiedenfels told Variety the follow-up is "a couple of years down the road," pointing to a potential 2026 or 2027 release window.

Recent job listings from Avalanche Software mention an "unannounced AAA title" with open-world RPG elements and branching narrative systems. Actor Jason Anthony, who voiced 23 characters in the original game including villain Victor Rookwood, confirmed on TikTok in late January that a sequel is happening.

Warner Bros. has indicated the game will tie into the HBO series through "big picture storytelling elements." Whether that means promotional crossover or deeper narrative connections remains unclear.

Hasbro's Franchise Play

The Harry Potter deal fits Hasbro's broader strategy of expanding its licensed portfolio alongside owned properties like Magic: The Gathering, Dungeons & Dragons, and Transformers.

The company brings 164 years of toy manufacturing experience and reaches over 500 million customers worldwide through physical products, digital games, and location-based entertainment.

Hasbro recently secured similar partnerships for other major franchises. The company announced licensing deals in February 2026 for Amazon MGM Studios' Voltron movie and Legendary Entertainment's Street Fighter film.

The first Hasbro Harry Potter products won't arrive until 2027, but the company plans to reveal initial details later in 2026. Expect previews to coincide with the anniversary celebrations or closer to the HBO series premiere.

For now, fans can focus on the theatrical re-release, the summer studio tour features, and whatever Warner Bros. reveals about Hogwarts Legacy 2.

The wizarding world isn't slowing down.