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That's the gist of a great piece in The New Yorker, which looks at falling profits at both Mattel and Hasbro and knows exactly where to point the finger.
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The Death of Toys, Blame The Web
I agree with the premise of this post about the death of toys. I would go further. I've noticed my consuming habits have changed from physical to virtual goods.
There was a time I cared about what car I drove, books I read and cool Swatches I could find. Not so much anymore. Now I stream videos, buy books on Kindle and check the time on my iPhone. Physical goods feel lime more PAIN than VALUE.
Pain because a physical good has to be moved when I move, a physical good takes up SPACE and needs maintenance (dusting at least) and physical goods must be disposed of at the end of their lifecycle.
Virtual goods don't need as much curation, they are in the cloud (at most) so there is no need to move them and their entry costs are often lower (because they didn't need expensive shipment). I think this trend is more pervasive than ME (lol).
And the trend to "virtual goods" is killing the sale of physical goods such as books, movies and toys.