Now that Crash and Spyro are under the Activision Blizzard roof, the old mascots may have a new chance at regaining their former glory.

Speaking of the two franchises, Activision Publishing CEO Mike Griffith said during a Thursday earnings call, "We feel these brands have a lot of runway left and will positively benefit from our consumer research and testing."

Griffith said that he"s "encouraged" by the upcoming entries into the franchises for later this year, but he added, "We also know that these properties are ripe for reinvention to increase their appeal, and that"s what we"re focused on in the future."

Spyro the Dragon and Crash Bandicoot, two characters that helped define the PlayStation brand in years gone by, have sold more than 55 million units worldwide life to date combined, according to Griffith.

Activision Blizzard acquired the Crash and Spyro properties as part of the Kris Graft8.9 billion merger with Vivendi Games, a deal that closed July 9.