The text discusses the evolution of Lego products and their transition into a multimedia entertainment empire. It starts with Lego's origins as a wooden toy company in the 1930s and their introduction of plastic Lego bricks in the 1950s. Over the years, Lego expanded into video games, movies, theme parks, and various activities, while still focusing on selling Lego sets. The success of the 'Bionicle' franchise in the early 2000s revitalized the brand. Licensing deals and content creation helped Lego become the world's largest toy maker, with billions in revenue. Lego also ventured into licensed materials like "Star Wars" and produced hit movies, such as The Lego Movie, released in 2014. These developments transformed Lego's identity and made it a part of popular franchises like 'Marvel'.
• entertainment: shows or performances people enjoy watching.
• wooden (adj): made of wood.
• to expand : to increase in size, number or importance.
• licensing deals: deals based on famous existing licenses such as 'Star Wars', 'Harry Potter', etc.
• a billion: 1,000,000,000.
• a venture: a new activity in business that involves taking a risk.
Source: Wall Street Journal