Toy Titans’ Hollywood Paths Diverge: Mattel’s $1B Blockbuster vs Hasbro’s Changing Course
Back in September 2018, Ynon Kreiz, the newly appointed CEO of Mattel, breathed new life into the toy giant’s Hollywood dreams. Under his leadership, Mattel launched a films division, embarking on a journey to bring their iconic toy franchises to the big screen through strategic partnerships and licensing deals with major studios. This bold move came after missed opportunities, including the shelving of a Sony Pictures’ Barbie adaptation with Anne Hathaway.
In contrast, Hasbro, Mattel’s formidable rival, took a different trajectory. Just a year later, Hasbro aimed higher than mere licensing; it aspired to emulate Marvel Studios by producing its own films. In pursuit of this goal, Hasbro made a massive investment of $3.8 billion to acquire Entertainment One in August 2019, marking a significant step towards this ambition.
Fast forward to the present year, and the two toy giants have taken distinct paths. Mattel’s Barbie, in partnership with Warner Bros., has made a triumphant entrance into the billion-dollar box office club. Meanwhile, Hasbro faced a different fate, parting ways with Entertainment One at a valuation significantly lower than its original acquisition price, as their cinematic endeavors didn’t yield the anticipated success.
When Hasbro secured Entertainment One, it initially aligned with Paramount Pictures to create content based on Hasbro toy brands such as Transformers, G.I. Joe, and My Little Pony. However, challenges arose, exemplified by the underwhelming global performance of the eOne-produced “Dungeons & Dragons: Honor Among Thieves” and the more favorable but still mixed outcome of “Transformers: Rise of the Beasts.”
Following the passing of former CEO Brian Goldner in 2021, Chris Cocks took the reins at Hasbro, steering the company towards a focus on digital gaming. This shift rendered Entertainment One non-essential to Hasbro’s new strategy, prompting its sale to Lionsgate.
This transformation brought Hasbro’s Hollywood approach closer to Mattel’s model. Mattel leveraged its popular toy brands to forge partnerships with major studios, giving rise to projects like the Vin Diesel-starring “Rock ‘Em Sock ‘Em Robots,” an MGM adaptation of “Polly Pocket” with Lily Collins, and a Hot Wheels movie produced by J.J. Abrams’ Bad Robot.
As Wall Street observes and recalibrates its expectations for the toy industry, the contrasting experiences of Mattel and Hasbro underscore the power of strategic partnerships and licensing arrangements in the entertainment landscape. Mattel’s trajectory, culminating in the successful Barbie movie, stands as a beacon of their new Hollywood approach, while Hasbro’s shift towards digital gaming reflects a strategic pivot.
The dynamic landscape of Hollywood and the evolving preferences of audiences continue to shape the strategies of industry giants, proving that in the ever-changing world of entertainment, adaptation is key to achieving success.
Checkout for the HOT GOSSIPS and the STYLE TRENDS below:
Today’s Sizzler | Celeb Style | Celeb Trend |
Celeb Fashion | Celeb Fitness | Celeb News |
Web Stories |