Mattel, the iconic toy manufacturing behemoth, has been at the forefront of children's entertainment for decades. But now, under the guidance of CEO Ynon Kreiz, the company is setting its sights on Hollywood, looking to make an indelible mark on the film industry.
With the staggering success of the Barbie movie, which was co-produced by Mattel and has already garnered over $1.4 billion at the box office, the toymaker is proving that its characters can command the silver screen just as effectively as the playroom.
The next big move for the organization is a film centered around the beloved purple dinosaur, Barney. Produced by Get Out star Daniel Kaluuya, the movie promises to strike a chord with millennials, offering a fresh, entertaining, and culturally oriented narrative.
Rather than being a mere children's movie, this new Barney film will explore the challenges and sentiments of the 30-something generation.
Kreiz unveiled the details of Mattel's cinematic ambitions in a candid conversation for Semafor Business's signature series, On The Record. The CEO provided insights into the company's strategy, emphasizing the marriage of creativity and branding and how the company intends to foster genuine connections with audiences through quality content.
Mattel's cinematic journey
With a legacy rooted in toy manufacturing, the organization's transition into filmmaking is both ambitious and strategic. The recent Barbie film garnered tremendous financial success and showcased the company's ability to produce quality content that resonates globally.
Kreiz's name, appearing as an executive producer within the initial seconds of the film, cements the company's hands-on involvement and vision. The anticipated $125 million revenue from Barbie and 14 more films in the pipeline, including ones centered around other toy icons like Magic 8 Ball and Polly Pocket, depict a promising cinematic future for the toy company.
The decision to delve into a Barney-centric narrative has intrigued many. This isn't going to be the Barney film that the older generation grew up with; it's designed with a contemporary twist. Produced by Daniel Kaluuya, the film aims to resonate with adult audiences, tapping into the "millennial angst."
Mattel Films executive Kevin McKeon hinted that it would focus on the "trials and tribulations of being thirtysomething," shedding light on the generation's unique challenges and experiences with the beloved dinosaur.
"We're leaning into the millennial angst of the property rather than fine-tuning this for kids," McKeon said. "It's really a play for adults. Not that it's R-rated, but it'll focus on some of the trials and tribulations of being thirtysomething, growing up with Barney — just the level of disenchantment within the generation."
Ynon Kreiz's conversation during On The Record was revealing. He emphasized that Mattel's films, including the Barbie movie, were not merely marketing tools for selling toys but genuine attempts to create meaningful, quality content.
"It's too early to be specific, but I can tell you we are taking a fresh approach that will be fun, entertaining and culturally oriented. It will not be an odd movie."
The company's strategy is rooted in authenticity, aiming to transform its toys into diverse media platforms, be it movies, TV shows, live events, or theme parks.
While this approach isn't entirely new (with brands like Marvel having walked this path), Mattel focuses on execution, hoping to differentiate from past attempts perceived solely as marketing gimmicks.
Moreover, the appointment of Robbie Brenner as the President of Mattel Films underscores the company's commitment to cinematic excellence. With a history of producing significant movies, Brenner's expertise will undoubtedly fortify Mattel's position in Hollywood.
As the toy company embarks on this cinematic journey, audiences can anticipate a blend of nostalgia and contemporary storytelling, ensuring that the legacy of their beloved toys continues to thrive on screen.
