Warner Bros. Pictures
the Barbie The film served as a “model” for Mattel, with 14 other live-action films in development and plans to expand into other sectors.
“What I saw about Barbie The film served as a model, a case study, and an opportunity to understand the value and appeal of our brands, cultural resonance, and, most importantly, our ability to execute these projects both creatively and commercially, and we hope and expect that our More of these.” “We’re not saying it’s going to be as big or as successful Barbie, But it will be the same approach, the same opportunity, the same capitalist methodology that we think has served us very well in this case.
Speaking at the Goldman Sachs Communacopia and Technology conference on Thursday, alongside Mattel CFO Anthony DiSilvestro, Kriz outlined upcoming films involving Mattel IP, including JJ Abrams hot wheels Movie, Skydance’s Matchbox Car Movie, Major Matt Mason’s Movie Starring Tom Hanks, Polly PocketDeveloped by Lena Dunham, starring Lily Collins. barney, In development with Daniel Kaluuya, and a Rock ‘Em Sock ‘Em Robots movie with Vin Diesel.
The gaming company, which is also a growing TV roster, including Hot Wheels: The Ultimate Challenge On NBC and lexical On Fox, he said that even as the number of projects grows, Mattel will remain largely “capital light” in its approach to these types of partnerships, preferring to be largely a shareholder of the intellectual property, rather than a larger participant.
However, Mattel still benefits greatly from its success Barbie The film, which has now become the highest-grossing film of 2023, has grossed nearly $1.4 billion worldwide. DiSilvestro said Mattel shares in this success as rights holder and producer, with the company’s profit sharing increasing with the film’s success. In 2023, the company expects direct involvement in movies, games and related consumer products to result in total billings of more than $125 million, he said. There are also expectations of continued earnings in 2024 and beyond.
This helps offset some of the weakness Mattel is seeing in the retail sector, as retailers struggle with high inventory levels and lower spending on toys. DiSilvestro added that he believes the company is now in a better position, in terms of inventory levels, as it heads into the holiday season.
Regardless, Kriz said that the company is now able to explore other sectors, even outside the film industry, thanks to… Barbie film.
“The market reaction to the film’s success has really opened up new opportunities for Mattel,” Kriz said. “It has changed the conversation for us with other partners, not just in the film industry, but in other areas, and it has really helped highlight the strategy and strength of our portfolio.”
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