Greta Gerwig’s “Barbie” has turn out to be a bona fide hit. Since premiering on July 21, the movie has grossed over $774 million globally. Solely two weeks into its theatrical run, “Barbie” has already outdone the most recent Quick & Livid, Mission: Unimaginable, and Transformers installments on the field workplace. Because it’s pulling in larger numbers than long-standing movie franchises, it is no marvel Mattel is raring to make much more motion pictures impressed by its widespread toy manufacturers. Its upcoming movie slate is being dubbed the “Mattel Universe.” Whereas the success of “Barbie” has definitely helped push the corporate to start improvement on these movies, the Mattel Universe has really been years within the making. Allow us to clarify.
How Did the Mattel Cinematic Universe Start?
In line with The New York Instances, talks of a Mattel Universe first started when CEO Ynon Kreiz took over as Mattel’s new chairman and chief govt in April 2018. Kreiz was the corporate’s fourth CEO in simply 5 years, and he got here on board when Mattel was in determined want of change. Within the years main as much as his appointment, Mattel’s income had been steadily reducing, and its inventory additionally skilled a 73 % drop, hitting its lowest level in 10 years. In March 2018, the corporate additionally suffered an enormous loss when toy retailer Toys “R” Us introduced it could be submitting for chapter and both closing or promoting all of its shops.
With a view to carry Mattel again to the highest, Kreiz signed on to assist the corporate develop outdoors of simply toys. He kicked off the initiative that September by launching Mattel Movies — its first challenge being “Barbie” starring Margot Robbie. “My thesis was that we needed to transition from being a toy-manufacturing company, making items, to an I.P. company, managing franchises,” Kreiz instructed The New Yorker on July 2.
Contemplating different toy firms like Lego (“The Lego Movie”) and Hasbro (Transformers) have discovered success with making enormous blockbusters, it was solely a matter of time earlier than Mattel tried to do the identical.
What “Barbie”‘s Success Means For the Mattel Cinematic Universe
Through the 2023 Milken Institute World Convention, Kreiz instructed Yahoo Finance Reside that “Barbie” being a hit could be a “catalyst” for Mattel Movies and its increasing universe. “This is the first time that Mattel is putting a movie out based on any of our [intellectual property], any of our franchises,” he mentioned. “Barbie is clearly an important brand. It’s one of our three power brands, and it will be in many ways a showcase for the quality of the movies that we’re looking to make, the type of partnerships we’re formulating with lead talent in Hollywood, working with major studios.”
Now that it has been weeks since “Barbie” premiered, it is clear Mattel made the suitable alternative in venturing into motion pictures. The movie has damaged a number of field workplace information since its launch, together with having the most important field workplace debut by a girl director, Greta Gerwig. Its success got here all the way down to a number of components. Moreover the truth that Barbie is a well-loved determine by individuals of all ages, the movie additionally drew curiosity attributable to its over-the-top advertising and marketing marketing campaign, which included a real-life Barbie Dreamhouse and Robbie replicating the doll’s most iconic seems. The truth that the movie’s launch lined up with “Oppenheimer” additionally inspired viewers to do a double function referred to as “Barbenheimer.”
Will There Be Extra Mattel Films?
So, what does Mattel have deliberate now? After all, Kreiz is hoping to see extra of Barbie sooner or later. “Barbie, as a brand, has many different iterations. The product lines of Barbie is a very broad brand,” the CEO instructed Selection on July 26. “In addition to the main Barbie figure, she has family, she has a lot of elements around in her universe. It’s a very rich universe… It’s a very broad and very elastic brand, in terms of opportunities.”
Nonetheless, it seems Mattel is not in a rush to launch into any “Barbie” sequels simply but. “At the outset, we’re not saying, ‘Okay, let’s think already about movie two and three.’ Let’s get the first one right and make that a success. And if you do that, opportunities open up very quickly, once you establish the first movie as a successful representation of a franchise on the big screen,” Kreiz defined.
Naturally, Mattel additionally desires to see extra of its properties on the massive display. In line with The New Yorker, the corporate has confirmed that it has 45 movies in improvement which might be impressed by its numerous toy manufacturers. Following the success of “Barbie,” Mattel has formally introduced 14 of those movies, together with a Polly Pocket film starring Lily Collins directed by Lena Dunham. A Barney film starring Daniel Kaluuya can also be within the works.
Mattel Films within the Works
Listed here are all 14 motion pictures Mattel has publicly introduced to be in improvement to date.
- “American Girl Doll”
- “Christmas Balloon”
- “Hot Wheels”
- “Magic 8 Ball”
- “Major Matt Mason”
- “Masters of the Universe”
- “Polly Pocket”
- “Rock ‘Em Sock ‘Em Robots”
- “Thomas & Friends”
- “View Master”