Mattel Inc. has a knack to turn its toys into popular entertainment assets. In a new collaboration with BBC Studios’ “Bluey” series, the company is betting on the opposite.
Created by Australian production house Ludo Studio, characters from the animated children’s show will appear in five product lines from Mattel, including Barbie and Hot Wheels. Since its debut in 2018, the show has won two International Emmys for Kids – one in 2020 and one last year.
In a statement, Nick Karamanos, who heads entertainment partnerships at Mattel, called the collaboration a “natural fit.” Suzy Raia, executive vice president at BBC Studios’ global consumer products division, added that the toy giant is “an ideal partner” to expand on the show’s creativity.
The collaboration is not Mattel’s first move to bring intellectual property from popular series and films into its products. Barbie featured a “Wicked” collection in 2024, while Hot Wheels debuted “Stranger Things,” “KPop Demon Hunters” and “Top Gun” collectibles at the San Diego Comic Con this year.
Recent performance
Mattel is having a turbulent year. While it reported large net sales in the last quarter – posting a 10% increase year-over-year at $1.13 billion – its gross margin has dropped 2.7%. Digital gaming, action figures and vehicles, and strong North American demand pushed up sales, while higher tariffs, inflation and royalties dragged down the margins.
Beyond appealing to children with such collaborations as “Bluey,” the company is also looking to tap into the adult market, said Roberto Stanichi, chief marketing and brand officer at Mattel, during the company’s second quarter earnings call with analysts.
“That’s going to come to life through new partnerships and collections,” he said. “As a company, we do know how to tap into our adult fans.”
Mattel share prices remain challenged, closing at $13.14 on Thursday; that leaves the company down nearly 23% year-over-year and down nearly 34% year-to-date. Its 2026 price peaked on Jan. 8, when it closed at $22.16.
