Mattel's (MAT) financial haul from the juggernaut Barbie movie is not all fun and games.
It's real money — and a lot of it.
The operating margin from these sales will be above a meaty 60%.
"It is more than we assumed entering the year, and we expect that in future years there will be continued benefit from the movie," Kreiz said.
Mattel's "Barbie" live-action PG-13 flick, headlined by Margot Robbie as Barbie and Ryan Gosling as Ken, continues to clean up at the box office.
More than a month into its theatrical release, Greta Gerwig’s blockbuster has hauled in a mind-blowing $1.4 billion-plus at the global box office.
Mattel has positioned itself to win royally this coming holiday season from the eye-popping interest in all things Barbie.
The toymaker has licensed the Barbie name to merchandise that is sprouting up everywhere.
For instance, there is a Barbie apparel deal with specialty retailer Gap (GPS). The product line ranges from pink Barbie hoodies to pink pet clothing.
Since the movie's release in late July, Mattel has introduced a host of new dolls inspired by the movie. One doll in particular that is garnering a lot of attention is Weird Barbie, played in the movie by Kate McKinnon.
The steady stream of movie-inspired toys is expected to continue, experts say.
Kreiz told Yahoo Finance Live that Mattel is eyeing a "franchise management" stage with Barbie and additional sales pegged to the movie in 2024 and beyond.
"This is about long-term franchise management," Kreiz said. "It's not just about the quarter or the year. It was never about just trying to sell more toys. It was about creating a cultural event, creating a societal moment. And we believe the benefit will carry forward for years to come."
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Brian Sozzi is Yahoo Finance's Executive Editor. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn. Tips on deals, mergers, activist situations, or anything else? Email brian.sozzi@yahoofinance.com.
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