Mattel Inc. is looking to capitalize on another popular doll brand, as it works to take American Girl to the silver screen.
The California-based toy company revealed on Wednesday it will take its American Girl doll brand and create a live-action movie.
The film is slated to have Lindsey Anderson Beer as the screenwriter and a producer, according to Mattel’s press release.
For the planned project, Mattel’s studio arm will also work with Paramount Pictures and Temple Hill Entertainment.
The former of those companies will serve as both distributor and producer, while the latter will produce, Mattel said.
“Through dolls, books, live experiences, and television movies, the [American Girl] brand has captured hearts for decades,” Mattel Films President Robbie Brenner said.
“We are excited to continue Mattel Films’ momentum and collaborate with Paramount Pictures, Temple Hill Entertainment, and Lindsey Anderson Beer to bring American Girl to life on the big screen.”
Mattel and Warner Bros. Pictures put out “Barbie” nearly five months ago, with the Greta Gerwig-directed film going on to generate an eye-popping $1.44 billion in global ticket sales, according to IMDb’s Box Office Mojo.
The toy company saw a boost from the movie, as CEO Ynon Kreiz noted to analysts and investors in late October.
He said Mattel “benefited from the success of the ‘Barbie’ movie with significant contributions from box office participation, the monetary line and consumer product partnerships.”
Anderson Beer, the same writer behind “Sierra Burgess is a Loser,” said Wednesday she was “so excited to tell a story that tackles the issues of girlhood in a real and compelling way” and “proud” to work with Mattel and its partners “to create the American Girl movie I have wanted to see since childhood.”
The doll brand, created in 1986 by Pleasant Rowland, has belonged to Mattel since 1998, when the toy company paid $700 million for the brand.
Customers have bought upwards of 36 million American Girl dolls over the course of the brand’s 37-year existence, according to American Girl.
In late October, Mattel said the American Girl brand brought the company $103.7 million in net sales in the first three quarters of the year.
The brand saw total net sales of $226.9 million in 2022, according to the toy company.
Mattel has been implementing a strategy to “grow Mattel’s IP-driven toy business and expand our entertainment offering” for quite some time.
Some other Mattel-owned brands that have content in the pipeline include Hot Wheels, Matchbox and Polly Pocket.
Mattel shares have posted a nearly 7% increase so far this year.
Credit: Source link
