Mattel CEO Ynon Kreiz has dropped some heavy hints more Barbie-related content is on the way. With the success of the new movie, there are rumblings about a sequel, TV show, and other exciting brand expansions.
“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 after Mattel’s quarterly earnings call. “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.”
The monumental success of Warner Bros. Studios‘ “Barbie” has shown the toymaker “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.”
While no one will argue Barbie was iconic before the film, sales of the doll itself have been slipping. In the company’s second quarter, sales were down 7% and that is with the halo effect from the film. It’s still unclear what effect “Barbie”’s box office success will have on the doll’s sales. But it’s assumed Mattel will be raking it in with other merchandise from 165 brand partners.
As exciting and lucrative as more Barbie content is, everything is still tentative due to the current SAG and WGA strikes. According to Kreiz, these labor strikes are “delaying some projects that are in development.” Though the company “made significant progress before the strike, and expect to continue to make progress after the strike,” he added. “We are watching the space and will manage according.”
While he didn’t specify which projects are being delayed. Mattel has “Barney,” “Polly Pocket,” “Hot Wheels,” and “American Girl” movies in the works.
“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,” Kreiz said in an earlier statement. “This also speaks to the potential of Mattel Films and the significant progress of our strategy to capture the full value of our IP.”
Currently, the “Barbie” movie has brought in more than $470 million worldwide in its first week of release. So we are pretty sure this isn’t even the her final form. We’ll keep you posted on updates about these projects as they become available.
