Barbie will contribute greater than $125 million in gross billings to Mattel this yr, the toymaker’s CFO stated as we speak in a shout-out to the “nice contribution” from the blockbuster movie because it closes in on $1.4 billion worldwide.
Chief monetary officer Anthony DiSilvestro, talking alongside CEO Ynon Kreiz at a Goldman Sachs media convention, stated money will proceed to movement by 2024 and past.
Mattel, which owns the IP to the doll launched in 1959, has a significant financial participation within the Warner Bros. movie, the execs stated.
“Our economics are a function of the revenue, as well as profit participation, which scales up with the success of the movie,” based on DiSilvestro. He stated the$125 million consists of direct film participation plus gross sales of toys and shopper merchandise.
Mattel defines gross billings as quantities invoiced to prospects, excluding changes.
In a narrative as we speak, the WJS stated Mattel earned 5 % of Barbie’s field workplace income, citing individuals with information of the settlement.
Kreiz has been reinventing Mattel as CEO over the previous 5 years to give attention to leveraging and monetizing its IP, a push that culminated with Barbie. But the Greta Gerwig-directed hit “is not on its own. It is part of a holistic strategy, a multi-year strategy, to capture value from our intellectual property,” he stated. The movie’s success showcased “the strength of Mattel’s brands and cultural resonance of its portfolio”; its potential to draw high companions and inventive expertise; and its substantial advertising chops, activating hundreds of shops worldwide.
Mattel’s different IP extensions embrace 14 motion pictures in improvement together with a Hot Wheels movie with J.J. Abrams; a Matchbox Cars mission with Skydance; a Major Matt Mason film with Tom Hanks; Polly Pocket by Lena Dunham, starring Lily Collins; Vin Diesel with Rock ‘Em Sock ‘Em Robots; and Barney with Daniel Kaluuya.
A rising TV slate features a Hot Wheels sequence on NBC and Pictionary on Fox, with a over a dozen reveals debuting or set to.
“What you saw around the Barbie movie was, we believe, a template, a case study, an opportunity to truly understand the value and appeal that our brands have, the cultural resonance, and, importantly, our ability to execute these projects both creatively and commercially,” stated Kreiz. “We hope and expect to have more. I’m not saying it will be as big or as successful as Barbie, but it will be the same approach.”
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