Hasbro’s Matt Proulx discuss Monopoly Steakhouse, global highlights – and opportunities for Jem and the Holograms

Matt, it’s great to catch up. I wanted to kick off by asking about Monopoly Steakhouse. It opened in Mexico last month and looks terrific. It feels like a good example of licensing that’s surprising – but also makes sense. How did this concept come about?
The LBE business moves at a glacial pace. It takes time, right? It’s a very complex business that – from ideation, to design, to construction, to opening – could take two years, five years, 10 years…

We had this vision for Monopoly Steakhouse around eight years ago centred around what Monopoly symbolizes as a brand. I see it as attainable opulence, right? The rags to riches story – it’s about being able to live in Park Place! So as we started to conceptualize that, we thought about high-end places – and typically a good steakhouse is somewhere you’d go for a nice, expensive meal. It fits the brand equity that Monopoly serves. But also, to your point, it allowed us to create a surprise and delight moment because it is a little unexpected.

And we’ve ended up with a phenomenal partner in Timeless Brands. They saw the vision. If I showed you initial design pictures to what opened, it’s almost identical. The launch has been great and our goal is to be able to take it to London, New York, Vegas and other parts of the world because it works really well.

Exciting. And on the point about how long it takes to launch these types of experiences, how do you mitigate for the evolutions a brand might go through in the eight years it may take to develop a restaurant or theme park attraction?
Our corporate strategy is playing to win – and while it’s a new strategy, play has always been at the center of every single thing that we do. So yes, while brand priorities might change, at the heart of it all is still play, which helps when it comes to crafting these experiences that often take some time.

For example, if you think about Transformers, it’s always going to be good versus evil. That’s a core part of the brand lore. The movies and television series might change, but the core play pattern of Transformers isn’t going to change. Look at D&D. For a long time, it was embedded in ‘geek culture’ and now it’s become cool. That means we can capitalize on the trend and grow it out – but the core heart of D&D hasn’t changed. It’s the same as it’s always been.

What are you excited about that’s still to come?
I’m really excited about our project with SEVEN in Saudi – our Transformers and Play-Doh projects. They’re coming soon and people are going to be wowed by what they’ll see. It takes these brands to a whole new level in an unexpected way.

What will those experiences entail?
Both are large indoor Family Entertainment Centres – Transformers is more ride-based, while Play-Doh is a little more creative and experiential. We also have some great projects in China and Latin American that are going to really wow people. And we have something I’m really excited about that’s coming to the US – we haven’t announced it yet, but when we do you’ll think: ‘That’s a no-brainer, why didn’t they do that sooner?’

Play-Doh feels quite intangible as a brand – it stands for creativity, colour and tactility, but isn’t narrative-driven or character-driven. How have you approached bringing that IP to life in experiences?
Play-Doh is a little bit more open-ended because it’sessentially a can of imagination. You can create whatever you want. When it comes to experiences, a lot centers on Play-Doh being tactile and multi-sensory – like the smell of Play-Doh, right? And it’s a lot of fun because you have the ability to sculpt whatever you want it to be – pun very much intended!

But then you get to the practicalities… If everyone’s touching dough, there’s health and hygiene considerations. You also have to think about disposal of Play-Doh. So yes, creatively it’s open-ended, but operationally, there’s also a lot of things to work through. For us, it’s about how we capture the core essence of Play-Doh in a way that delights and surprises guests, expands the play pattern and stays true to what the brand stands for.

Before we wrap up, is there a Hasbro brand you feel is untapped when it comes to experiences?
I’d say Jem and the Holograms. It’s a phenomenal property that has been underutilised. Is it going to suit a big theme park? Maybe. Maybe not. But Jem is an artist, and what comes with that is touring, residency shows and all these other theatrical pieces. When I think about what the brand lends itself to – especially due to its ties with music – I get really excited.

Great pick. We’ll keep an eye out for more Jem moving forward. Thanks again Matt.