The 21st of July has never been so awaited by the CEO of Mattel (MAT) Yon Kreiz. This time, the calendar is marking a date that will represent the company's turning point with the release of the realistic film by Barbie. The company that produces toys will assume a new position in the trade.
For Kreiz, the Barbie movie – starring Margot Robbie, who will play Barbie, and Ryan Gosling, representing Ken – will be the beginning of a new trajectory for the production of content for company. “This will be a catalyst,” said the CEO at the 2023 Milken Institute Global Conference, in an interview with the Yahoo Finance Live.
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“This is the first time that Mattel is releasing a movie based on any of our, any of our franchises. Barbie is clearly an important brand. It is one of our three powerful brands and will in many ways be a showcase for film quality. what we are trying to do”, indicated Kreiz and stated that he seeks partnership with big names in Hollywood.
Mattel has other ventures in sight
In addition to the launch of the Barbie movie, Kreiz said Mattel is developing 13 other projects. The film of the most famous doll in the world will redouble for other generations the cultural relevance that Barbie produces for the whole world.
As indicated by the portal statist, the doll's solid sales generated a gross revenue of US$ 1.5 billion worldwide, but proposals are still being threatened by Disney's growth, with the movie "Frozen", Mattel needs to reverse this trend. frame.
In all, they lost 27% of their shares in 2022, encouraged by high inflation and strong economic demand worldwide. For the CEO, the expressive change will happen in the last half of this year, as they are preparing the pilots needed to generate an even bigger profit, including the Barbie movie that will be released in July.
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