The key is with branded entertainment, which Hasbro has embraced. The toys it has represent merchandising for television and film franchises.  This is especially important, as millennials who grew up watching Nickelodeon and Disney are starting to have children, and these children want to buy a piece of their favorite movie or TV series.  Meanwhile, Mattel totally does not get it. It has instead focused on producing the best commercials and promotional strategies for shelf space. That approach would make sense if it were selling toothpaste or toilet paper, but not for toys.  "I think Hasbro remains a buy at these levels, while Mattel should be avoided," said the "Mad Money" host.  Hasbro has more rabbits in the hat, too, with blockbusters such as "The Avengers," "Jurassic World," "The Fantastic Four" and "Star Wars" movies that will boost toy sales further.  "How about Mattel? I like that the board of directors held the CEO accountable, but this increasingly feels like a stodgy, out of touch company," said Cramer.  ---------------------------------------------------------- Read more from Mad Money with Jim Cramer Cramer Remix: What this oil price means Cramer: Twitter's enormous red flag Cramer's two signs that oil's bottomed already ----------------------------------------------------------  The "Mad Money" host warned not to be enticed by Mattel's 5.4 percent yields either. Though management claimed that the dividend was safe, it is possible that it will cut the dividend further down the road.  In the end, the toy business demands that content is king. Hasbro gets that, and is raking in the dough as a result. Meanwhile, Mattel continues to sit in the dark and push its product as though it were an ordinary bathroom item. Good luck with that, Mattel.
Jim Cramer takes a look at Hasbro versus Mattel and finds that this stock is reaching new highs and can play the game even further.