Mattel Will Have ‘Robust’ Toy Line, Licensed Products for Upcoming Films
Mattel will have a “robust” line of toys and licensed consumer products and live events behind the Masters of the Universe film due in 2021 — the first in what is expected to be a series of movies based on the company’s IP, CEO Ynon Kreiz told analysts at an investor conference in New York.
Since forming Mattel Films in 2018, the company has struck a string of film deals in a bid to revive dormant IP including Major Matt Mason (Paramount), Barney (59% Productions) and View-Master (MGM) and put a new spin on top properties such as Barbie and Hot Wheels (both Warner Bros.) Masters of the Universe is being produced by Sony Pictures. More than 30 film and TV projects are in various stages of production. Among the new licensees for Masters of the Universe is Factory Entertainment, which is showing prop replicas and collectible metal figures at the International Toy Fair this week.
Mattel is also active in digital games. It jointly developed a version of Uno last year with NetEase Games and also released the internally developed “Hot Wheels Infinite Loop” game that generated three million downloads within the first three months of release last year. Mattel also licensed developer Scopely, which is releasing the “Scrabble Go” mobile title later this year.
Return to plush
Meanwhile, Mattel is returning to plush with the introduction of a Baby Yoda figure that launches at retail in April. It also has licenses for Minions and Pixar characters and expects to sign “more top licenses” later this year, said COO Richard Dickson. Mattel also will expand licensing for its Mega Bloks constriction kit business, building on a line that already includes Halo IP.
Buoyed by strong sales of Barbie and Hot Wheels products, Mattel forecasts a 2.5% revenue increase this year. Mattel is cutting about 30% of its SKUs to ensure that “supply better meets demand,” Kreiz said. Mattel’s factories, shuttered following the Coronavirus outbreak, restarted limited production on Feb. 17, but continue to face delays in workers returning to the plant, Kreiz said.
