By If you were asked to picture the CEO of Mattel, what image would come to mind? Perhaps it would be Will Ferrell, the actor who portrayed the character in the popular Barbie movie, effortlessly gliding through the streets of Los Angeles in a suit and a vibrant pink tie.
Interestingly enough, Ynon Kreiz, the actual CEO of Mattel, doesn’t seem to mind this association. In fact, he embraces it.
“We have a sense of humor about ourselves,” Kreiz shares during an interview for our captivating At’s series (though it’s worth mentioning that no rollerblades were involved).
While Kreiz may not possess the comedic talents of Will Ferrell, he is no stranger to the world of Hollywood. And this background may prove invaluable as he strives to transform Mattel from a mere toy company into a powerhouse within the entertainment industry. Prior to assuming the role of CEO at Mattel in 2018, Kreiz spent over two decades immersed in the entertainment sector. He held positions at Fox Kids Europe and the Netherlands-based production company Endemol. Most recently, he served as the CEO of Maker Studios, a prominent video production company that was later acquired by Disney.
Indeed, Disney itself provides an intriguing parallel to Kreiz’s aspirations for Mattel.
“In many ways, our strategy draws inspiration from Marvel,” Kreiz explains. He references the renowned comic book publisher that has now developed into one of Disney’s most significant enterprises. “It’s not a direct comparison, but rather a useful analogy. Marvel started off as a comic book publisher, and over time, it evolved into a vital platform for creators, movies, and various other franchise extensions. We believe we can achieve something similar with our own portfolio of brands.”
With Kreiz at the helm, Mattel is poised to embrace its potential as an entertainment powerhouse, combining imaginative play with captivating content. As the company charts its course for the future, the possibilities for innovation and creativity appear limitless.
The Disney-fication of Mattel: Expanding Beyond the Toy Aisle
The success of Mattel’s first-ever Barbie movie has paved the way for the company’s expansion plans. While more moviemaking is on the horizon, there are also ambitious initiatives to follow the Disney World route. In fact, Mattel is gearing up to open its inaugural theme park in Glendale, Arizona next year. By venturing beyond the toy aisle, Mattel aims to unlock countless opportunities for its beloved brands.
A Box Office Sensation: Barbie Takes Center Stage
The buzz surrounding the Barbie movie is undeniable. Even if you haven’t seen it yet, you’ve likely heard about its astonishing box office success. Barbie is poised to secure the top spot as the highest-grossing film of 2023, with ticket sales exceeding a staggering $1 billion.
Mattel estimates that in 2023 alone, the movie will generate a minimum of $125 million in gross billings and $75 million in profit. And the windfall isn’t limited to the box office — doll sales have skyrocketed as well. CEO Ynon Kreiz predicts that Barbie’s momentum will continue throughout the holiday season, further bolstering its financial performance.
An Exciting Movie Lineup
The Barbie movie is just the beginning of Mattel’s cinematic ambitions. With 14 other movies already in the works, including a Barbie sequel, fans can look forward to an array of films based on the company’s iconic toy brands. From Polly Pocket and Hot Wheels to Barney and retro action figure Major Matt Mason, Mattel is capitalizing on its rich portfolio to captivate audiences on the big screen.
CEO Ynon Kreiz emphasizes that not every movie will achieve the same level of success as Barbie, but he firmly believes in the enduring cultural and societal impact of Mattel’s brands. By leveraging their resonance and translating it into commercial triumph, Mattel seeks to elevate its presence beyond the realm of toys.
In conclusion, as Mattel expands through moviemaking, theme parks, and a pipeline of exciting films, the company’s future looks remarkably promising. With their iconic brands at the forefront, it’s evident that Mattel is poised to captivate audiences around the world.
Comments