By Tanya Parashar and Rakesh KumarNATIONAL HARBOR, Md.
(Reuters) – Lego, which has become one of the biggest sellers of toys and other consumer goods worldwide, is working to diversify into the lucrative toy and video game market as it moves into a new era of digital expansion.
Lego is launching a new line of video games in 2019 and will begin to sell digital toys to consumers in 2020, CEO Dan Knudsen told Reuters in an interview in a plush conference room at his company’s headquarters in Maryland.
He did not offer specifics on how much money the company was making from these games.
Lego has sold more than $300 billion in toys and video games since its first products were unveiled in 2002, making it the world’s biggest toy and entertainment company.
“It’s a great time to be in the video game industry, especially when you can build a brand and a brand has to be a brand,” Knudson said.
“You have to have a brand that’s really meaningful and a great value.
You can’t just be a toy.
That’s just not possible.
You have to be something that people are going to spend time with.”
The company has also launched new games in the past two years including the Lego Star Wars: The Force Unleashed video game, which Knudens said has sold almost 40 million units and has become a must-play video game for gamers.
The game was also a hit with younger kids, he said.
“There are no easy choices in the entertainment business.
I think you’re always going to have those tough choices,” Knudesen said.