Mattel Launches $170 Million He-Man Film as It Chases Another Hit After $1.5 Billion Barbie
Updated
Updated · The New York Times · Jun 5
Mattel Launches $170 Million He-Man Film as It Chases Another Hit After $1.5 Billion Barbie
1 articles · Updated · The New York Times · Jun 5
Summary
$170 million "Masters of the Universe" opens Friday, giving Mattel its second major toy-based film after "Barbie" and a crucial test of its Hollywood expansion.
Mattel is using the He-Man movie to push beyond its old licensing model, seeking more control over film adaptations and a bigger share of the value from its brands.
The bet is riskier than "Barbie": He-Man was a mid-1980s phenomenon but lacks Barbie’s multigenerational relevance and may feel dated against Marvel and "Star Wars" franchises.
CEO Ynon Kreiz has already tempered expectations, saying not every release needs to match "Barbie," which grossed about $1.5 billion worldwide, to matter strategically.
Mattel is building a broader film slate around nostalgic toys, with Hot Wheels and Polly Pocket in development and "Matchbox: The Movie" set for Apple TV in the fall.