The Power Rangers franchise has been one of the most successful entertainment brands since the 1990s. It was created by Haim Saban and Shuki Levy, two Israeli entrepreneurs, and was based on a Japanese television series Super Sentai. Saban and Levy had previously worked together on another children’s television series and saw the potential of Super Sentai to be adapted for the American market, so they formed their own company called Saban Entertainment in 1980 and purchased the rights to the series. The original show did not premier until over a decade later in 1993 and has since had numerous spin-offs, movies, and merchandise which we will get into later.
Fast forward to 2018, and while the brand has changed hands a couple of times over the past couple of decades, Hasbro bought Power Rangers on May 1, 2018, for $522 Million in a massive media deal. As a result, the Power Rangers brand has become a mainstay in popular culture and a perfect example of successful marketing and entrepreneurship.
Practicing entrepreneurship
First and foremost, Power Rangers is an entertainment and merchandising franchise.
Haim Saban and Shuki Levy were able to identify and create an opportunity in the market and capitalize on it. They recognized the potential of the Super Sentai series and developed a business model that allowed them to monetize it in the American market. They developed a distinct visual style for the series and created a wide range of merchandise that allowed fans to engage with their favorite characters.
An example I found of how they practiced entrepreneurship is from when they first started out and were not even on TV yet. Haim, one of the co-founders, was once asked about his experience selling the show to big networks and he was quoted saying, “Every selling season, I would go out and offer it to the networks — and would get kicked out of the room,” Saban said of his 1980s slog. “They told me how crazy I was.”
Basically, these big cable TV networks thought they were insane, and that Power Rangers was the dumbest idea ever. But he did not give up and practiced his pitch repeatedly until finally he sold his idea in 1992 to Fox Kids. It was so successful between viewership and merchandise sales that they formed a joint venture that was acquired by Disney in 2022 for 2.9 billion (of which his stake was 1.5 billion).
building business models
So, what is the model for this billion-dollar business?
Starting with the offering, it was a low-budget, cheesy tv series about a group of teens who would defend the earth from alien invaders while teaching viewers about the importance of friendship and teamwork. As mentioned, this spins off into multiple products and partnerships. As for the customers, I originally thought that it was only for millennials. But it is still going strong and is for children 5+ and nostalgic adults in 150+ markets worldwide.
Their financial viability was a little more difficult to get concrete numbers on since the brand has changed hands so many times and gone from private to public. And now that it is part of Hasbro, its revenue and cost structure are part of a much bigger corporation. With that said, I was able to find that the Power Rangers franchise had generated about $1 billion in revenue by 1995, just a few years after their premier.
I was also able to find a quote from Saban that said they were the bestselling toys of the 1990s, amassing 6 billion in sales at wholesale between 1993-2000. However, you can see that there was a huge drop off in sales when they were purchased by Disney because it is known that the sales of Power Rangers toys rose from $40 million in 2011 to $80 million in 2012, but that really provides an incomplete picture of what the franchise brings in because these numbers are only about toys and their product and services go way beyond that.
Lastly, their infrastructure includes content, media, marketing, merchandising, distribution, licensing and more.
power rangers products
The Power Rangers franchise is based on the concept of “toys-to-life.” The series is designed to be both an entertaining television show and a way for children to engage with their favorite characters through merchandise. Basically, each episode was essentially a half-hour commercial for all the Power Rangers stuff you could pick up at the local toy store.
Toys, clothing, and other merchandise based on the series are widely available. The series also has a strong presence in the digital world, with video games and apps based on the Power Rangers. The Power Rangers franchise also has a strong presence in other media. It has been adapted into comic books and has had several feature films. The most recent film, released in 2017, was a box office success. The franchise also has a strong presence in the live entertainment market, with live shows and events held around the world.
As it relates to partnerships, there was a story I found from 1995 where Saban confirmed that Burger King offered him $15 million to do a Power Rangers promotion. McDonald’s countered with $20 million. Saban gave the biggest restaurant chain in the world one day to get to Los Angeles and work it out. Sure enough, McDonald’s people flew in from Chicago by 10 a.m. the next day and the deal was done by that night.
developing customers
The Power Rangers franchise is a model of successful brand-building and marketing. Saban and Levy recognized the need to create a strong, recognizable brand appealing to both children and adults, specifically those with kids worldwide. And these two make up their primary end users.
The influencers of Power Rangers, for me, was surprising. I did not know this but Bryan Cranston (who you may know from Breaking Bad) was a voice actor for a giant, evil lizard called Snizzard. In addition, Dude Perfect, one of the largest YouTube channels in the world, did a collaboration with Power Rangers. And actors such as Timothee Chalamet have been vocal in their love for Power Rangers.
As far as economic buyers are concerned, we have already covered the big three of Fox, Disney, and Hasbro. But Power Rangers would not be where they are today without Saban.
At the end of the day, Power Rangers is a fun, light, and cheesy superhero TV show available in over 100 different markets across the globe. I would like to finish by saying that Power Rangers was ahead of its time and one of the most diverse shows at the time, especially with its casting.
marketing lessons learned
The Power Rangers franchise offers valuable marketing lessons that extend beyond its action-packed storyline. The six main lessons include:
- You don’t need to start from scratch. Throughout the franchise’s various iterations, we witness how new Ranger teams often inherit the legacy, technology, and wisdom of their predecessors. This mirrors the marketing principle that building upon existing successes can be just as effective as creating something entirely new. Rather than reinventing the wheel, businesses can leverage their existing customer base, brand reputation, and resources to introduce innovations. The Power Rangers’ ability to seamlessly integrate new characters and storylines while maintaining core elements serves as a reminder that evolution doesn’t necessarily require starting over. Similarly, marketing strategies can evolve while preserving the established brand identity, saving time and resources. This lesson teaches marketers to appreciate the value of continuity, allowing for incremental improvements and innovation within a familiar framework.
- Distribution is key. Successful marketing relies on reaching a wide and varied audience. The franchise’s global popularity demonstrates the importance of strategic distribution to ensure that content reaches fans across different regions and platforms. Just as the Power Rangers’ adventures span various locations and dimensions, marketing campaigns need to transcend geographical boundaries through efficient distribution channels. This lesson underscores that crafting a compelling message or product is only part of the equation; ensuring its accessibility to the right audience is equally vital.
- There is power in diversity. There is no doubt in the effectiveness of diverse and relatable characters. Just as the Power Rangers come from different backgrounds and possess unique traits, successful marketing campaigns should cater to a wide range of audiences, acknowledging their individuality.
- You must be able to adapt. Additionally, the franchise’s consistent evolution and ability to adapt to changing trends teach us the importance of staying relevant. Like the Power Rangers’ ability to adopt new costumes and powers, businesses must be willing to update their strategies to align with evolving consumer preferences.
- Teamwork makes the dream work. The Power Rangers’ teamwork and collaboration underline the significance of building a strong community around a brand. Effective marketing fosters engagement and interaction, transforming customers into loyal advocates.
- Invest in your brand. The Power Rangers’ longevity highlights the value of building a robust brand identity that transcends generations. Just as the franchise continues to captivate new audiences while retaining its original fan base, effective marketing strives to create lasting connections that stand the test of time.