• by Steve McClellan  @mp_mcclellan, November 26, 2013

Toy marketing giant Hasbro has selected OMD as its global lead media agency after a review. Hasbro spends an estimated $400 million on ads worldwide.

As part of the decision, the toymaker consolidated its North America, Europe and Asia-Pacific media assignments with OMD while retaining GroupM for Latin America.

Initiative had been the North America incumbent. OMD had handled parts of Europe and Asia-Pacific going into the review.

The company spends about $125 million a year on ads in the U.S.

The award to OMD was part of a global media agency review that Hasbro began in July.

The review was kicked off several months after the Pawtucket, RI-based Hasbro added two new senior management posts. In February, it elevated company veteran David Hargreaves to the position of executive vice president corporate strategy and business development. 

At the same time, it appointed another veteran at the firm, Wiebe Tinga, to the post of chief commercial officer. Tinga has been tasked with overseeing all of the company’s commercial activities across North America, Europe, Latin America and Asia-Pacific.

In the U.S. Hasbro spends an additional $50 million on ads to promote the Hub TV Network, the cable network it owns in a joint venture with Discovery Communications.

In addition to its toy business the company produces TV programming through its Los Angeles-based Hasbro Studios both for the Hub and for 170 markets around the world.

Earlier this year Hasbro expanded its digital gaming capabilities with the acquisition of 70% of mobile game producer Backflip Studios. CEO Brian Goldner earlier told analysts that the company is “developing comprehensive and innovative lines for both film and television entertainment in the coming years.”

OMD and the other agencies declined to comment. 

Hasbro confirmed the new assignments late Tuesday afternoon, stating: "After an extensive review process, Hasbro has awarded OMD the majority of the Company’s global media account pending contract agreement. Some other select markets will retain their incumbent agency including Latin America, where Group M/Mediacom will maintain media buying and planning responsibilities pending agreement on new contract terms."

This story has been updated to include Hasbro's confirmation and statement.