Mattel says more Barbie content likely after film’s blockbuster success

Barbie doll maker Mattel’s Chairman and CEO Ynon Kreiz hinted at a ‘Barbie’ movie sequel and more TV content and brand collaborations, given the box office success of the Greta Gerwig-directed film aimed at resurrecting the once-popular children’s doll. 

“We haven’t announced anything, and it’s probably a bit early to talk about sequels, but obviously, with the success of the film…that would invite more opportunities,” Kreiz said in the post-earnings conference call on Thursday early morning. 

“We operate in an industry where everyone is looking for these moments, for these brands, for these cultural events. And they happen, but they don’t happen that often. [So] we expect the brand to continue to grow, we expect to have more opportunities in content — and this in not just film, this is television and other areas.” 

Mattel Films, the film production division of Mattel, is one of the producers of the ‘Barbie’ film which has grossed more than $400 million globally so far since its release on July 21. At the global stage, it has beaten nuclear arms biopic Oppenheimer’s $238 million global collection so far. The Christopher Nolan-directed film also released on the same day, earning the box office clash the ‘Barbenheimer’ moniker. 

Kreiz said there’s been a big shift in Mattel’s “strategy and our DNA” with the huge success of the Warner Bros. film to realise “that the people who buy our products are not just consumers, they are fans…And once you have an audience, more opportunities open up to engage with your fans in many ways and to create value from that engagement.” 

Mattel has on the anvil at least 14 films based on their famous toys such as Hot Wheel, UNO and Magic 8 Ball, as they build up their relatively new Mattel Films on entertainment franchises.  

Mattel, however, expects a boost from the movie’s success to its entertainment and toy businesses only in the second half of the year. Its quarterly revenue fell 12% to $1.087 billion, and net income dropped nearly 60% to $27 million from $66 million a year ago.  

Executives highlighted that Barbie-themed merchandise with 165 brand partners at thousands of retail locations were selling out fast. The iconic doll has seen declining sales, facing backlash over its unrealistic beauty standards and the impact on impressionable children’s self-esteem. In April-June 2023, too, Mattel reported declining Barbie dolls. But its overall dolls division saw sales rise 10% to $441 million, driven primarily by Disney Princess, Disney Frozen and Monster High. 

“Importantly, this moment will be remembered as a key milestone in our company’s history with the release of the Barbie movie, our first ever major theatrical film,” Kreiz noted in the press release. “The Barbie movie is a showcase for the cultural resonance of our IP, our ability to attract and collaborate with top creative talent, and the capabilities of our franchise management organization. This also speaks to the potential of Mattel Films and the significant progress of our strategy to capture the full value of our IP,” he added.