With the recent forming of new film and global franchise management divisions, Mattel is embarking on a two-year plan to overhaul its brands to meet changing consumer trends, President-COO Richard Dickson told us at a Barbie fashion event prior to the start of Brand Licensing Europe.

Mattel needs to take its “partnership” with retailers and licensees “to another level” through products, live events and films, says Dickson. The newly formed Mattel Films division is expected to include the “Barbie 2” and “Masters of the Universe” movies that were previously with Sony. Sony released the most recent Barbie film in 2017.

“We try to make movies, but unfortunately we haven’t made” a blockbuster yet, Dickson said. “We are not going to give up (on films) and we need to move in that space more aggressively than we ever have before.”

Mattel needs to be “telling stories” in short- and long-form content, and digital gaming is a “huge opportunity,” says Dickson.

While many of Mattel’s brands are easily recognized by consumers, “it is not easy to bring all those moving parts together in a uniform manner across multiple platforms. But in order to compete we are going to have to,” Dickson said.

To implement changes, Mattel created the Global Franchise Management Division which is headed by former Saban and Sanrio executive Janet Tsu, who joined the company in September as Chief Franchise Management Officer.

Many of the changes will be tied to giving the Mattel brands “a sense of purpose,” such as the recent Thomas the Tank Engine tie-in with the United Nations to promote its sustainable development goals, Dickson said.

Contact:

Mattel, Richard Dickson, President and Chief Operating Officer, 310-252-2000, richard.dickson@mattel.com