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Barbie sales surged 14% after blockbuster movie release, Mattel says

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Published Oct. 26, 2023, 9:34 a.m. ET

Barbie maker Mattel said sales of its iconic doll jumped 14% in the latest quarter thanks to the “Barbie” box-office blockbuster starring Margot Robbie and Ryan Gosling.

“Dolls continue to grow with the benefit from the ‘Barbie’ movie,” Mattel CEO Ynon Kreiz said during the toy company’s third-quarter earnings call on Wednesday after reporting sales surged 9% to $1.9 billion for the three-month period ended Sept. 30.

“The movie has broadened Barbie’s fan base, which will be an important contributor for the brand as part of our long-term franchise marketing strategy,” Kreiz added of the film, which reigned over the box office for four weeks after its July 21 debut.

To date, 13 weeks since its release, “Barbie” the movie has grossed a staggering $1.4 billion worldwide, including $635.73 million across US theaters, according to IMDB’s Box Office Mojo.

The Greta Gerwig-directed movie is so popular that searches for the baby name “Barbie” have increased by a staggering 603% since April, when its trailer was released.

Sales of the iconic Barbie doll surged 14% in the third quarter, Mattel said on Wednesday, which can be attributed to the "Barbie" movie's success in the box office.
Sales of the iconic Barbie doll surged 14% in the third quarter, Mattel said on Wednesday, which can be attributed to the “Barbie” movie’s success at the box office. Mattel
"Barbie" -- which was directed by Greta Gerwig and stars Margot Robbie and Ryan Gosling -- topped box office charts for weeks after it debuted on July 21. To date, it has grossed $1.4 billion worldwide.
“Barbie” — which was directed by Greta Gerwig and stars Margot Robbie and Ryan Gosling — topped box office charts for weeks after it debuted on July 21. To date, it has grossed $1.4 billion worldwide. ©Warner Bros/Courtesy Everett Collection

“Our results benefited from the success of the Barbie movie, which became a global cultural phenomenon, and marked a key milestone for Mattel,” Kreiz added in Mattel’s third-quarter earnings release.

Mattel’s Chief Financial Officer Anthony DiSilvestro added that he believes the movie is “going to have a long-lasting effect in terms of broadening Barbie’s fan base.”

“We expect Barbie to grow in Q4,” he added during the company’s earnings call when Kreiz noted that Mattel Television greenlighted a new series for Barbie.

Mattel’s latest earnings report was mostly positive, though its profits were $146.3 million, down from $289.9 million in the 2022 period.

Shareholders seemed to take cues from the company’s declining profits, and Mattel’s shares fell about 6% in after-hours trading on Wednesday following the earnings release.

As of pre-market trading on Thursday, the toy maker’s share price was down nearly 11%, to $17.95.

Mattel reported a 9% increase in sales, to $1.9 billion, for the three-month period ended Sept. 30, though profits slumped year-over-year, to $146.3 million.
Mattel reported a 9% increase in sales, to $1.9 billion, for the three-month period ended Sept. 30, though profits slumped year-over-year, to $146.3 million. AFP via Getty Images
Mattel's Chief Financial Officer Anthony DiSilvestro added that he believes the movie is "going to have a long-lasting effect in terms of broadening Barbie's fan base."
Mattel’s Chief Financial Officer Anthony DiSilvestro added that he believes the movie is “going to have a long-lasting effect in terms of broadening Barbie’s fan base.” AP

However, Barbie wasn’t the only Mattel-made toy to have a profitable quarter.

Hot Wheels sales jumped 22% when compared to the same three-month period last year, Mattel said, which announced last year that a film around the scale model cars is in the works with Warner Bros., the studio behind “Barbie.”

Called “Hot Wheels, Let’s Race,” the animated series will premiere on Netflix in spring 2024, Mattel said.

Representatives for Mattel did not immediately respond to The Post’s request for comment.