It's always interesting when you switch companies and see the same brands pop up. Here's an example of where, despite the amazing talent, creativity and execution of my team, due to entertainment business factors completely out of our control, the brand would have actually been better off at my previous company. Toy Stories Chapter 20: LBX ! Shout out to Daizo Uehara!
While I was still at Spin Master, the action figure group was presenting a new property in a secret showroom that the were on the brink of acquiring. So, imagine my surprise when I arrived at Bandai a short while later only to find that very same brand was now part of my new brand portfolio!
LBX was a cool action property that was tearing it up in Japan, both on TV and in the stores. The driver of the brand in Japan was the line of figural model kits, but really everything that brand touched sold well., and the TV ratings in Japan were through the roof! However, when we pitched it to stateside entertainment partners like Cartoon Network, they saw it as a purely commercial play, and favored Spin Master for “those kind of shows,” and already had a deal in place with them. Thus, they subsequently took one of their properties instead. Again, the model kits were the key driver for success in Japan, but it was the Total Destruction line of action figures that our US team created that became one of my favorite lines that was never actually released. One hit from a missile blew up the figures, but kept it connected so that pieces wouldn’t go missing. Then the kid would fold them back together again, just like Bakugan or NASCAR Bashers. Coincidentally, of course.
We presented the LBX line to retailers, and received universally strong feedback, provided we got strong TV show placement. However, with Cartoon Network committed to Spin Master’s new property, our entertainment partners were only able to place the show on Nicktoons. A great place for action entertainment, but as a rule didn’t deliver the eyeballs necessary to drive retail sales. Hence, retailers did not consider that strong enough TV placement (and they were right). Great product, great license, but an insufficient business model! You need all three!
#bandai #LBX
Math nerd turned entrepreneur | EWOR
2wNICE!