Mattel Execs on Toy Film Franchises: "We Create Experiences"

Summary

In a dynamic discussion about the toy industry, executives from Mattel highlight the sector's growth amidst challenges like the decline of Toys R Us. They emphasize the importance of diversity in representation, particularly in casting iconic roles, and the need to engage young audiences through digital platforms and influencers. Mattel is not only focused on toys but also on expanding its intellectual property into film and television, with 22 new shows in development. The excitement surrounding upcoming projects, especially the new Barbie film featuring Margot Robbie, showcases Mattel's commitment to innovation and connection with consumers.

Takeaways

• 🎉 The toy industry is experiencing growth despite the decline of major retailers like Toys R Us, driven by digital engagement and innovative marketing strategies.
• 📈 Mattel is the number one toy company in the world, capitalizing on trends like unboxing and engaging with consumers through various platforms such as social media and influencers.
• 🌍 Diversity in casting is a priority for Mattel, reflecting the company's commitment to representing a wide range of consumers through their brands, particularly Barbie.
• 💁‍♀️ Barbie is recognized as one of the most diverse brands in the toy industry, with over a hundred new variations introduced to represent different backgrounds and identities.
• 🧩 Mattel acknowledges competition in children's entertainment not only from other toy companies but also from various entertainment forms, emphasizing the need to capture mindshare.
• 🎥 The company is focusing on owning intellectual property (IP) and exploring various entertainment avenues, including films and games, to diversify and enhance brand presence.
• 📺 Mattel is developing a comprehensive television strategy, announcing 22 new shows that will complement their film initiatives and broaden their reach in children's entertainment.
• 👥 A new hire from Disney Channel is leading Mattel's television initiative, indicating a serious commitment to original programming and leveraging industry expertise.
• 🤩 Anticipation for the upcoming Barbie film featuring Margot Robbie highlights the brand's evolution, with expectations for a fun and sassy portrayal aligned with contemporary culture.
• ✨ Overall, Mattel is poised for continued momentum in the toy industry by adapting to market trends, embracing diversity, and expanding its entertainment offerings.

Q & A

What is the current trend in the toy industry according to the speaker?

The toy industry is expected to continue growing, despite challenges like the decline of Toys R Us. The industry is adapting by enhancing digital engagement and leveraging social media.

How does digital engagement play a role in the toy industry?

Digital engagement is crucial for marketing and selling toys. It involves social media interactions, influencer partnerships, and activities like unboxing videos that enhance consumer experiences.

What importance does the speaker place on diversity in casting for films?

The speaker emphasizes the significance of diversity in casting, stating that it's vital to find the best actor for the role while also representing various backgrounds in their films.

How has Barbie evolved to represent diversity in the toy industry?

Barbie has introduced more than 100 different types of dolls, reflecting a commitment to inclusivity and diversity within the brand, making it one of the most diverse brands in the toy industry.

What challenges does Mattel face in capturing children's attention?

Mattel competes for mindshare in children's entertainment against popular games like Fortnite, making it essential to engage children who may not currently focus on Mattel's properties.

Why is owning intellectual property (IP) important for Mattel?

Owning IP allows Mattel to participate in various markets beyond toys, including films and television, providing opportunities to capture consumer interest and revenue across multiple platforms.

What new initiatives is Mattel pursuing in television?

Mattel is actively developing a television strategy with 22 new shows in production, led by a former Disney Channel executive, indicating a serious commitment to expanding their presence in children's television.

What is the anticipated direction for the upcoming Barbie film?

The upcoming Barbie film is expected to feature a modern interpretation of the character, with Margot Robbie portraying Barbie, aiming to appeal to contemporary audiences with a sassy and engaging narrative.

How does the speaker view the relationship between toys and entertainment?

The speaker views toys and entertainment as interconnected, with Mattel's core business in toys complemented by opportunities in film and television, aiming to create a holistic entertainment ecosystem.

What are the broader implications of the trends discussed in the toy industry?

The trends suggest a shift towards integrating digital experiences, inclusivity, and leveraging multimedia platforms, indicating that traditional toy sales are evolving to meet modern consumer expectations.