Mattel Inc. expects about $125 million in revenue related to Barbie, the hit film based on the company’s popular fashion doll.
(Bloomberg) — Mattel Inc. expects about $125 million in revenue related to Barbie, the hit film based on the company’s popular fashion doll.
The company receives a share of both revenue and profit from the film, Chief Financial Officer Anthony DiSilvestro said at a Goldman Sachs Group Inc. investor conference Thursday.
The El Segundo, California-based toymaker licensed its Barbie brand to Warner Bros Discovery Inc., which made the picture. It’s become the biggest movie of 2023 globally at the box office, with close to $1.4 billion in ticket sales.
Mattel expects its profit margin on the $125 million to be about 60%, DiSilvestro said. The benefit from the Barbie business will be offset by a decline in the Fisher-Price preschool division.
The film has yet to turn into a toy sales boom at the company. Mattel reported a 12% drop in revenue in the second quarter, including a 6% decline for the Barbie line. Management said at the time they expected “significant growth” for the business in the second half of the year.
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