Top Line
Mattel on Wednesday announced a new partnership with the British publisher that developed the video games “Paw Patrol” and “My Little Pony,” and as part of the company's plans, the two companies will develop classic brands, including a rejuvenated Barbie series. announced that they are planning to release three new games based on. to reverse the slump of the past two quarters.
The “Barbie” skyscraper billboard campaign will take place at Hollywood & Highland on July 20, 2023.
important facts
Mattel and Outright Games plan to release three console and PC games by the end of the year: “Matchbox Driving Adventures,” “Monster High: Skulltimate Secrets” and “Barbie Project Friendship.”
The news comes months after Mattel said it would begin publishing its own video games and announced a partnership with a Zynga subsidiary that will launch a new mass-market Barbie mobile game later this year.
The announcement follows the success of Mattel's Barbie Dreamhouse Tycoon, the first official Barbie Roblox game, which was accessed 27 million times in its first two weeks last fall.
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amazing facts
Mattel once had its own video game console. The 16-bit Intellivision console was released in 1979 and could be used with games such as “Donkey Kong Jr.,'' “Q*bert,'' and “B-17 Bomber.'' These games were aimed at eliminating various Nazi targets on the European continent. Intellivision was discontinued in 1990.
Main background
Mattel, the nearly 80-year-old toy company, enjoyed huge success last year with the release of Greta Gerwig's “Barbie,” which dominated the summer box office and ultimately became the highest-grossing movie of the year. Since then, the company has remained committed to its plans to continue using its existing toy brands to create dozens of new movies, games and other forms of entertainment. A film based on the American Girl doll series has already been picked up by Paramount Pictures and Temple Hill Entertainment, and Mattel has announced plans to produce films based on Hot Wheels, Magic 8 Ball, Polly Pocket, Rock 'Em Sock 'Em Robot and UNO.
tangent
Mattel shares soared 33% in the run-up to the launch of Barbie last summer, and the company handily beat third-quarter sales and profit expectations, but that success quickly tapered. Despite a holiday season boost in toy sales and a 24% increase in Barbie doll sales, net sales at the end of 2023 were down 1%. Mattel reported fourth-quarter net sales of $1.621 billion and earnings per share of 29 cents, but analyst expectations for both markers were lacking. The first quarter of 2024 produced similar results, with net sales down 1% compared to the same period in 2023 and revenue of $809 million, about $23 million below expectations.
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