Mattel expects Greta Gerwig’s Barbie to contribute over $125million (£100million) in gross billings to the company this year.
Anthony DiSilvestro, chief financial officer at Mattel, shared the number during the Goldman Sachs media conference on Thursday (September 7). The figure includes direct movie participation and sales of toys and consumer products.
- READ MORE: ‘Barbie’ review: Greta Gerwig’s grown-up toy story is fantastic fun
“Our economics are a function of the revenue, as well as profit participation, which scales up with the success of the movie,” DiSilvestro said (via Deadline).
According to The New York Times, Mattel earned five per cent of the film’s box office revenue, as well as a portion of the overall profits as a producer on the movie, and additional payments as owner of the Barbie IP.
Barbie, starring Margot Robbie and Ryan Gosling, has become the highest-grossing film of 2023, crossing the $1.4billion mark at the global box office.
As a result of the film’s success, Mattel is planning a slew of movie projects based on the company’s IP, including Polly Pocket by Lena Dunham, a Hot Wheels film from J.J. Abrams, and Barney starring Daniel Kaluuya.
“What you saw around the Barbie movie was, we believe, a template, a case study, an opportunity to truly understand the value and appeal that our brands have, the cultural resonance, and, importantly, our ability to execute these projects both creatively and commercially,” Mattel CEO, Ynon Kreiz, said. “We hope and expect to have more. I’m not saying it will be as big or as successful as Barbie, but it will be the same approach.”
Mattel expects continued profits from Barbie into 2024 and beyond. The film is set to hit streaming services on Tuesday (September 12).
In a four-star review, NME wrote: “What follows is a nuanced, rose-tinted comedy adventure, set to a stonking pop soundtrack featuring Lizzo and Billie Eilish, that somehow lives up to the immense hype. To borrow a pun from Ken’s coolest jacket (out of a long lineup), Barbie is more than ‘kenough’.”