Mattel has detailed the creation of a new division of the company dedicated to developing and producing films based on its various toy franchises.
Called Mattel Films, the division will be led by the Oscar nominated Dallas Buyers Club producer Robbie Brenner in the role of executive producer. She will report directly to Mattel’s chief executive Ynon Kreiz.
“Mattel is home to one of the world’s greatest portfolios of beloved franchises, and the creation of Mattel Films will allow us to unlock significant value across our IP,” said Kreiz.
The move is part of Mattel’s overall repositioning in a market in which toymakers like Hasbro are looking to the lights of Hollywood to boost brands and franchises.
“Generations of children around the world have grown up with deep emotional connections to Mattel’s brands and characters,” said Brenner. “There are so many stories to be told and so many imaginations to be captured.”
Under the new model and where Mattel had previously licensed out options for the development of feature films around brands such as Barbie, the company will create its own films, with production being outsourced to Hollywood movie studios.
Kreiz added: “The creation of Mattel Films will allow us to unlock significant value across our IP.”
He is said to be eying other ventures to expand Mattel brands, from live events to theme parks.