It is one of Hasbro's longest running toys, aside from the GI Joe line of action figures. Lite-Brite was introduced in 1967. and has evolved over the course of nearly 50 years. Hasbro also obtained licenses to use images of Bugs Bunny, Bozo the Clown, and other characters as part of their advertising campaign.
The following commercial comes from the 70's.
Today, Lite-Brite can be used on your smart phone. Gee, what a shock!