- Greta Gerwig’s “Barbie” film pushed up gross sales for the long-lasting doll, Mattel execs say.
- Mattel’s CEO mentioned the film had broadened Barbie’s fan base and boosted revenues.
- Global gross billings within the quarter have been up 14%, however this wasn’t sufficient to offset poor efficiency within the first half of 2023.
Greta Gerwig’s “Barbie” blockbuster helped enhance gross sales for the plastic doll following a poor efficiency within the first half of the 12 months.
Mattel CEO Ynon Kreiz informed traders in the course of the firm’s earnings name Wednesday that the film had broadened Barbie’s fan base. Barbie revenues had been boosted by box-office earnings, the movie-related toy line, and consumer-product partnerships, in addition to purchases from grownup collectors, he mentioned.
“The Barbie movie, Mattel’s first major theatrical release, became a global cultural phenomenon, breaking numerous box office records and becoming the highest grossing film of 2023,” Kreiz informed traders.
“The movie was a showcase for the cultural relevance of our ability to attract and collaborate with top creative talent and our demand creation capabilities at a global scale.”
Kreiz described the film as a “milestone” for Mattel’s leisure enterprise and mentioned it confirmed the worth of the corporate’s mental property, displaying the potential for future Mattel motion pictures. “There is no question that the success of Barbie repositions Mattel is an important player in Hollywood,” he mentioned.
In the three months ending September 30, the Barbie model made $605.1 million in international gross billings, a 14% bounce from the identical interval in 2022 on a continuing foreign money foundation.
Gross billings characterize quantities invoiced to prospects and do not embody the affect of gross sales changes, akin to commerce reductions.
North America made up round 58% of Barbie’s whole gross billings, and noticed a a lot greater rise — gross billings have been up 26% to $349.9 million within the quarter.
But this wasn’t sufficient to offset the gross sales decline within the first half of 2023. Global gross billings have been down 6% within the 12 months to September in comparison with the identical interval in 2022.
Mattel CFO Anthony DiSilvestro informed traders on Wednesday that Mattel’s direct film participation, movie-related toy gross sales, and client merchandise was anticipated to generate greater than $125 million in gross sales, noting that almost all of which was mirrored in its third-quarter outcomes.
Kreiz beforehand mentioned that that Barbie’s vary of movie-related toys and merchandise had bought out “very fast.” As nicely as releasing a soundtrack, Mattel mentioned that it had entered into greater than 165 consumer-product partnerships tied to the film, with collaborations with manufacturers together with Airbnb, Bumble, Forever 21, Crocs, and Bloomingdale’s.
The film has created a “halo effect” for Barbie, with the affect on gross sales anticipated to final for years, Mattel execs informed traders in July.
Barbie hit first the cabinets in 1959, although creator Ruth Handler — portrayed by Rhea Perlman within the film — confronted backlash from Mattel’s group when she first proposed her concept for a trendy doll based mostly on an grownup, slightly than a baby.
In whole, Mattel posted $1.92 billion in international web gross sales for the quarter and $473.9 million in working revenue, will increase of seven% and 17% respectively on a continuing foreign money foundation.
