Even before the “Barbie” movie was released, millions of people worldwide were earnestly waiting for it. After its release, the movie’s effects still haven’t died down yet, from Barbiecore fashion to Barbie dolls. The success of the box office movie has a direct relationship with the sales of Barbie dolls. In this article, we’ll highlight how the movie increased Barbie doll sales.
Before the Barbie movie
The toy company reported financial earnings on Wednesday. The report only covered company finances through June, so impacts from the blockbuster film released earlier this month remain to be seen. The company’s overall sales were down, in line with the company’s expectations.
Even though the Barbie movie’s impact wasn’t reflected in the earnings report, most analysts’ questions were related to the blockbuster. An update on finances quickly pivoted to the success of the Barbie movie, with Mattel confirming that the film’s theatrical debut is a milestone for the company.
The blockbuster that kickstarted a commercial success
While the Barbie movie resonates with audiences, the question is whether it will become more business for Mattel. Sales of the company’s popular brands, Barbie and Fisher-Price, were down, but sales of Hot Wheels were up.
The company expects Barbie sales to improve in the second half of the year, noting that sales of the doll were up in July. Despite lower sales, Barbie still has staying power. Market research group NPD named Barbie the top global toy brand in 2020 and 2021, falling to Pokémon in 2022.
Changing the face of the game
Mattel’s expansion into entertainment is part of its plan to create value for the company and create new relationships with customers. The Barbie film is one way Mattel is trying to expand its reach outside of the toy aisle.
In conjunction with the film, Mattel said it has partnered with over 165 brands on Barbie products. The company also pointed to the Barbie movie soundtrack as another success for the company.
Would there be a sequel?
Whether or not you’re a movie person, it’s undeniable that Barbie was fascinating from start to finish. Although it didn’t end with a cliffhanger, many have asked if a Barbie sequel was in the works.
According to Mattel representatives, it’s too soon to think about a sequel, but the company hopes the doll’s sales will be up in the year’s second half. So all we can say is: Let’s keep our fingers crossed.
Should we be expecting anything similar?
If you were of the idea that Barbie was the only ‘big plan’ Mattel had, you couldn’t be more wrong. Barbie isn’t the only Mattel toy getting out of the box – the company is also releasing a new video game.
The game Hot Wheels Unleashed 2: Turbocharged will be released in October. This follows the debut of the Hot Wheels Ultimate Challenge television series in May. The company also plans a fall concert tour based on its Monster High dolls.