Fresh off the global success of Barbie, toy giant Mattel is doubling down on its ambitions to become a media powerhouse. The company has announced a strategic merger of its film and television divisions to form a single content unit: Mattel Studios. The new division will be led by Robbie Brenner, who takes on the role of President and Chief Content Officer.
This move signals a renewed commitment by Mattel to develop a steady pipeline of entertainment content aimed at younger audiences, leveraging its portfolio of beloved brands to fuel both cultural relevance and commercial growth.
Expanded Leadership to Support Growing Slate
To steer this ambitious new chapter, Mattel has appointed three additional executives to key leadership roles under Mattel Studios.
Elizabeth Bassin has been named Head of Film, where she will oversee development of all feature film projects. Skyler Andrews steps in as Head of Television, tasked with guiding both scripted and unscripted content. Meanwhile, Ivan Sanchez takes on the role of Head of Business Affairs, overseeing the legal and commercial aspects of the studio's production efforts.
'Together, we are well positioned to support our growing slate, continue building a home for best-in-class creators, and develop content that resonates with audiences around the world,' said Brenner in a statement.
These strategic hires underscore Mattel's goal to evolve from a toy company into a full-scale media studio, capable of creating global entertainment franchises based on its iconic intellectual properties.
From Toys to Blockbusters: Mattel's Expanding Film Line-Up
Following the record-breaking performance of Barbie in 2023, Mattel Studios is now eyeing further commercial success through upcoming releases. The studio's next major release will be a live-action Masters of the Universe film, slated for global theatrical release on 5 June 2026.
Additionally, a Matchbox live-action film has just completed principal photography and is scheduled to debut in autumn 2026.
'Our vision for Mattel Studios is to collaborate with leading creators to make standout quality content based on Mattel's iconic brands that will resonate in culture and appeal to global audiences,' said Mattel CEO and Chairman Ynon Kreiz.
Financial Highlights from Q1 2025
Mattel reported net sales of $827 million (£611.53 million) in Q1 2025, representing a 2% year-over-year increase. Its adjusted gross margin rose to 49.6%, an improvement of 130 basis points from the previous year.
However, the company posted a net loss of $40 million (£29.58 million) or $0.12 per share, compared to a $28 million (£20.70 million) loss, or $0.08 per share, in Q1 2024. Adjusted loss per share narrowed to $0.03, down from $0.05.
Mattel repurchased $160 million (£118.31 million) in shares during the quarter and reaffirmed its $600 million (£443.67 million) buyback target for the year. Due to macroeconomic uncertainty and the impact of evolving US tariffs, the company paused its full-year guidance but continues to implement cost-saving initiatives and supply chain diversification to manage potential disruptions.
The Cultural and Commercial Triumph of Barbie
Directed by Greta Gerwig, Barbie became a pop culture juggernaut in 2023, grossing $1.447 billion (£1.07 billion) worldwide and earning the title of the year's highest-grossing film. Starring Margot Robbie and Ryan Reynolds, the movie became the fastest Warner Bros. release to surpass $1 billion (£739 million), achieving the milestone in just 17 days.
The film's global success was backed by a robust $150 million (£110.92 million) marketing campaign, featuring viral collaborations, immersive partnerships, and the now-legendary 'Barbenheimer' phenomenon, when Barbie released on the same day as Oppenheimer.
In addition to its box office performance, Barbie earned eight Academy Award nominations, ultimately winning for Best Original Song.
The project demonstrated Mattel's ability to revitalise classic brands into culturally resonant, multi-generational entertainment. It also laid the foundation for Mattel Studios' new content strategy, focused on turning toys into tentpole films and series.
With multiple projects already in the pipeline, Mattel Studios is positioning itself as a serious player in the entertainment space. From toy aisles to red carpets, the company is betting big on storytelling, and if Barbie is any indication, audiences—and investors—are ready to follow.
