Barbie has dominated the summer box office grossing over $1.4B worldwide. One of the big beneficiaries has been the company that makes the toy, Mattel (MAT). Mattel CEO Ynon Kreiz sat down with Yahoo Finance’s Brian Sozzi to discuss all things Barbie, Mattel, and how the company has shifted in it's approach. According to Kreiz, gross billings, as a direct result of the Barbie movie, will increase by $125 million, at about a 60% operating income margin.
Bigger picture, Kreiz explains the company's approach in “long-term franchise management” and how the company evolved from a toy manufacturing company to “an IP company that manages franchises”, using “cultural events to benefit the company for years to come." "It's more than a toy. What we create is more than a play system. It's a holistic approach to engage with your fans across multiple levels," Kreiz zays, adding that the opportunities are beyond just films.
