Barbie Film: A Cultural Phenomenon and Milestone in Mattel’s History

2023-08-30 18:53:00

Ynon Kreiz was only six weeks into the post as CEO of toymaker Mattel when he had a glamorous appointment. It was 2018 and he met Margot Robbie in the chic Polo Lounge of the Beverly Hills Hotel in Los Angeles. The Australian actress, known for films like ‘The Wolf of Wall Street’ and ‘I, Tonya’, has had an interest in making a film regarding Mattel’s famous Barbie doll for some time.

There have been similar plans before, but each time they were rejected. Kreiz and Robbie, on the other hand, seemed to hit it off pretty quickly, and the Mattel boss embraced the idea of ​​making a film with rough edges that celebrates Barbie as a cult figure, but doesn’t hide all the controversy surrounding her. The project was off the ground and Robbie was on board, as the lead actress and with her production company. She brought in Greta Gerwig, who had previously been known primarily for smaller indie films and was now directing an expensive Hollywood spectacle for the first time.

The doll and the manager

Despite all the optimism that day in Los Angeles, Kreiz probably might not have imagined what a triumph the film project would prove to be five years later. “Barbie” is the cinema event of this summer. Since opening regarding a month ago, the film has grossed $1.2 billion worldwide. That’s far more than previously anticipated in the industry – and an amazing result for a production that is neither regarding superheroes nor is it the sequel to an established cinema series. In the entire history of cinema, there have only been around 50 films with sales of at least one billion. “Barbie” is the first of these mega blockbusters to be directed solely by a woman, and in this respect it is also a milestone.

Margot Robbie will earn $50 million in fees and royalties from the film, according to industry publication Variety. But the tremendous response to “Barbie” is good news not just for her, but for the entire entertainment industry. There aren’t too many of those at the moment. The business in the cinemas has not yet reached the level before the pandemic. On top of that, the industry is struggling with strikes by scriptwriters and actors.

These days, the Mattel boss never tires of cheering his doll’s new Hollywood fame. The film is a “cultural phenomenon” and “difficult to ignore,” and in the future it will be remembered as a “milestone in the company’s history,” Kreiz said recently when presenting business results. The cinema success also came at the right time for him. After a strong boost during the pandemic, Mattel’s sales have recently shrunk, both across the company and in the Barbie business. Retailers built up large stocks of toys during the Corona period, which they first had to reduce before they needed replenishment. Now, however, it is expected that sales of the doll will increase significantly once more in the second half of the year. Many models from a special Barbie collection for the film were quickly sold out.

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