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Hasbro reportedly working on a sequel to 2017's Power Rangers reboot

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Aug 8, 2018, 11:02 AM EDT

Just this year, Hasbro acquired the license to Saban's Power Rangers franchise for around $522 million. They also nabbed the rights to  My Pet Monster, Luna Petunia, and Popples and Julius Jr. The first products from this deal will go on sale early next year, but the toy company is reportedly also hoping to work with a studio and develop a sequel to 2017's Power Rangers film, writes Licensing.org.

"We see tremendous potential for the Power Rangers franchise around our entire brand blueprint, including feature films," "We have nothing specific to announce at this time, but please stay tuned for future news and updates around the Power Rangers brand," Julie Duffy, SVP Global Communications at Hasbro said in a statement provided to SYFY WIRE.

Written by John Gatins (Real Steel) and directed by Dean Israelite (Project Almanac), the first movie was meant to be a darker, more mature take on the classic children's show from the 1990s. But even Bryan Cranston voicing Zordon and Elizabeth Banks playing Rita Repulsa couldn't save the feature from so-so reviews and middling box-office returns that barely helped it break even on its production budget.

Still, Hasbro has had a positive track record with the Transformers movies at Paramount, which, despite poor reviews, have made tons of money at the box office. Power Rangers could have the potential for a similar cinematic franchise if they treat the IP correctly the second time around

Power Rangers is an iconic brand built on a heritage of great storytelling and merchandising with tremendous upside potential when fully executed across Hasbro’s Brand Blueprint,” said Brian Goldner, Hasbro’s chairman and chief executive officer, in an official release back in May. “Shortly after entering into our licensing arrangement, it became clear that now was the time to begin investing in unlocking Power Rangers’ full potential. We see significant opportunity for Power Rangers across our entire Brand Blueprint, including toys and games, consumer products, digital gaming and entertainment, as well as geographically throughout our global retail footprint. We couldn’t be more pleased that Haim Saban will continue in a consulting role to further guide our development of this valuable property for the next generation of Power Rangers fans.”

Goldner also felt that "the brand was very underleveraged and undervalued."

The report seems to imply this new project would be a direct sequel to 2017's reboot, though there's also the possibility Hasbro opts to reboot/soft-reboot the franchise for a fresh start. Regardless, there will be more Power Rangers in the future. SYFY WIRE has reached out to Hasbro for comment, though the studio did not respond by deadline of this article.