Exciting news for fans of the iconic franchise: a live-action Power Rangers series is reportedly in the works for Disney+. The project is set to be helmed by the talented duo Jonathan E. Steinberg and Dan Shotz, known for their work on Percy Jackson and the Olympians. According to The Wrap, Steinberg and Shotz are in negotiations to write, showrun, and produce this new venture, which is being developed in partnership with 20th Century TV.
Hasbro, the current owner of the Power Rangers brand, is aiming to refresh the series for a modern audience while ensuring it retains the loyalty of its long-standing fanbase. This move comes as part of Hasbro's broader strategy to leverage the franchise's potential across various media and markets.
The original '90s TV show, The Mighty Morphin' Power Rangers, captured the hearts of a generation with its teenage superheroes and their impressive mechs, capable of combining into a formidable giant robot. This nostalgic appeal is something Hasbro is keen to tap into while expanding the franchise's reach.
In 2018, Hasbro acquired the Power Rangers franchise from Saban Properties for $522 million. At the time of the acquisition, Hasbro's then-chairman and CEO, Brian Goldner, expressed enthusiasm about the brand's "tremendous upside potential." He highlighted opportunities for expansion across toys, games, consumer products, digital gaming, and entertainment, as well as international markets.
This acquisition followed the less-than-stellar performance of the 2017 Power Rangers movie reboot, which attempted a darker, grittier take on the franchise. The reboot's poor box office results led to the cancellation of planned sequels and prompted Saban to sell the rights to Hasbro.
Hasbro's ambitions extend beyond Power Rangers, with other notable projects in development. These include a live-action Dungeons & Dragons series titled The Forgotten Realms at Netflix, an animated Magic: The Gathering series also at Netflix, and plans for a Magic: The Gathering cinematic universe. These initiatives showcase Hasbro's commitment to expanding its beloved brands across various entertainment platforms.
