Barbie and Elsa are best friends again.
On Wednesday, Mattel announced that it had regained the license to make dolls and toys based on the Walt Disney Company’s famous ice princesses Elsa and Anna from the Frozen franchise. The deal also brings other Disney characters that make children scream with delight – like Cinderella, Ariel and Moana – back in the house Barbie built.
After years of making Disney dolls that bring in hundreds of millions of dollars a year, Mattel lost its license in 2016 to main rival Hasbro. That loss hit Mattel hard, created a massive hole in the company’s business and resulted in the departure of top executives over a four-year period.
Shares of Mattel jumped 9% on the news to $21.44, while shares of Hasbro fell 1.5% to $94.10.
Richard Dickson, Mattel’s president and chief executive officer, said: “We’re incredibly proud to welcome the Disney princesses and the ‘Frozen’ franchise back to Mattel. The financial terms of the deal were not disclosed, and the company says the new dolls and figures will hit retailers’ shelves as early as 2023.
Since being appointed CEO of Mattel in 2018, Ynon Kreiz, former director of media and entertainment distribution, went to great lengths to shore up Mattel’s finances by cutting costs, laying off employees, and closing or selling plants. He has also aimed to capture children’s interest by implementing a number of movies there are toys, games and its figures.
Among the film projects featured in the work is “Barbie,” a live-action adventure with Margot Robbie (“I, Tonya”) and the Academy Award-nominated director. Greta Gerwig (“Orange beetle”); a live-action film starring Hot Wheels; and a movie about Thomas’ Tank Engines that will combine animation and live action.
Mr. Kreiz’s ambition is to use Mattel’s vast portfolio of intellectual property to become like Marvel Entertainment, a comic book company that has become a Hollywood giant.
Mr. Kreiz told The New York Times in July: “In the medium to long term, we have to become a player in movies, TV, digital games, live events, consumer products. , music and digital media.
https://www.nytimes.com/2022/01/26/business/media/mattel-disney-princess-frozen.html Mattel Wins Return to ‘Frozen’ and Disney Princess Toy Line