Mattel’s Media Makeover: CEO Ynon Kreiz Reshapes Toy Giant as Content Factory

variety.com:

Cynthia Littleton Business EditorYnon Kreiz knew he was sitting on a “treasure trove” of IP when he took the reins of toymaker Mattel as CEO in 2018.Mattel’s big vault of toy and game brands had the kind of built-in audience and multi-generational appeal that make for four-quadrant hits.

But first he had to sort out major issues with Mattel’s struggling retail business before he moved into expansion by ramping up content production activity, as Kreiz explains on the latest episode of Variety podcast “Strictly Business.”Four years later, Mattel is about to begin production on a Barbie movie directed by indie darling Greta Gerwig and starring Margot Robbie.

The project is an ambitious prototype of Mattel’s effort to grow by adding a new studio dimension to its balance sheet. Lena Dunham, Tom Hanks and Vin Diesel are among the notable creatives working with Mattel.

The company has 14 movies in development and 20 TV series and specials in some form of production. “We are looking to attract the best creators in the world to allow them to reimagine our brands and interpret them through their own lens to create an engaging experience for audiences and consumers,” Kreiz says. “We don’t make movies to sell more toys.