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Barbie's Mattel will expand beyond toys into film franchises

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After the success of the Barbie movie, Mattel now wants to capitalize on its brands' intellectual property to move into film franchises.

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Mattel CEO Ynon Kreiz said that it now intends to apply the methodology used for Barbie, specifically "the same approach" and "the same capabilities.”

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With "Barbie" showcasing the company's potential, it wants to use its brands' cultural significance to attract top talent for its projects.

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Mattel's Hot Wheels sales grew 19% this quarter. Kreiz sees "tremendous opportunity" with an upcoming live-action Hot Wheels film produced by J.J. Abrams.

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Mattel had earlier announced that Mattel Films is currently working on 14 movies including ones based on Uno, American Girl, and Thomas the Tank Engine.

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Kreiz's vision is to create a Mattel cinematic universe by investing more in film franchises, expanding beyond the toy aisles.

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