Mattel Inc. will soon expand beyond making toys to launch its own publishing imprint. The El Segundo-based toy company has in the past published books based on its franchises. It is the parent company of American Girl Publishing, which produces work based on the backstories of American Girl doll characters.
Mattel said its publishing imprint will focus on both complementing existing content and creating new stories based on brands such as Hot Wheels, Thomas & Friends and Polly Pocket, which the company owns.
“We have seen firsthand the immense value in providing fans of our franchises with multiple avenues to further engage with their favorite Mattel brands, characters, storylines and worlds,” Josh Silverman, chief franchise officer and global head of consumer products at Mattel, said in a statement. “In launching our own publishing imprint, we simultaneously unlock limitless exploration for kids while continuing to realize the full value of our [intellectual property].”
Several Mattel franchises are in the process of being reintroduced. The company recently announced plans for a new animated series based on its Barney character. The show is scheduled to be released in 2024. A live-action “Barbie” movie, directed by Greta Gerwig and starring Margot Robbie and Ryan Gosling, will be released in July. Mattel’s publishing imprint, which the company said will debut in 2024, will also include content based on both the Barney and the Barbie brands.
Mattel’s fourth-quarter net sales, a period that included holiday seasonal toy purchases, declined 22% in North America versus the prior year’s fourth quarter. Anthony DiSilvestro, chief financial officer at Mattel, told analysts that retailers had reduced replenishing orders more than anticipated for brands including Barbie, Fisher-Price and Thomas & Friends. Despite this, Mattel reported its highest full-year point of sales in nine years and highest fourth-quarter point of sales in eight years, with double-digit growth in December.
“The increase in consumer demand for our product speaks to the strength of our portfolio as a whole, even in a challenging environment,” Chief Executive Ynon Kreiz said. “We believe we are well positioned to continue executing our multi-year strategy to grow our IP-driven toy business and expand our entertainment offering.”
The publishing imprint will be launched in the United States and Canada. Formats will include print and audiobooks as well as digital content on Caribu, a direct-to-consumer entertainment platform owned by Mattel.
