Yahoo Finance Mattel (MAT) Unveils Tie-ups to Develop 'American Girl' Movie
Mattel, Inc. MAT recently announced a collaboration with Paramount Pictures and Temple Hill Entertainment to create a live-action feature film based on the American Girl doll line.
The new project joins Mattel Films' extensive lineup, which includes around 14 live-action movies in the works, such as adaptations of Hot Wheels, Magic 8 Ball, Polly Pocket, Rock ‘Em Sock ’Em Robots and UNO.
American Girl (founded in 1986 by Pleasant T. Rowland) is renowned for its high-quality dolls and bestselling books, fostering creativity, learning and entertainment for children. The brand is dedicated to crafting culturally significant narratives that empower young girls with bravery and self-assurance.
The film adaptation of American Girl is being overseen by individuals from Mattel, Paramount Pictures and Temple Hill. At the same time, Lindsey Anderson Beer (screenplay wrtier and producer) is represented by CAA, Brillstein Entertainment Partners, Gang Tyre and Shelter PR. Beer emphasized the dolls' historically accurate backgrounds and intricate stories, ideally suited for cinematic adaptation. Beer anticipates creating a narrative that genuinely delves into the complexities of girlhood in an engaging and authentic manner.
Focus on Entertainment
The company emphasizes capturing the full value of its IP in its business verticals outside the toy aisle. The highly anticipated Barbie movie, which had its official release on Jul 21, 2023, witnessed great success globally. It underscores the potential of Mattel Films and the strides the company has achieved in maximizing the value of its intellectual property.
During the third quarter of 2023 earnings call, Mattel stated that it is well-positioned to grow its IP-driven toy business and expand its entertainment offering beyond 2023. In pursuit of this goal, the company revealed its collaboration with the Pokémon company, securing a multi-year license renewal for construction sets across all major markets. It emphasized a fresh multiyear deal with Netflix, securing exclusive content rights encompassing three original series. The company announced upcoming new seasons for Thomas & Friends, Polly Pocket and Fireman Sam.
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In the past year, shares of the company have gained 11.2% compared with the industry’s growth of 20%.
Zacks Rank & Key Picks
Mattel currently carries a Zacks Rank #3 (Hold).
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