With the Oscar-nominated ‘Barbie,' Mattel has arrived in Hollywood. What's next for the toy company?

Barbie, the iconic doll, has had a successful year as she celebrates her 65th birthday. The release of the ‘Barbie’ movie turned out to be a huge hit, grossing over $1.4 billion globally in 2023. This success has prompted Mattel, the toy company behind Barbie, to expand its brands beyond physical toys and into content creation. They are now developing more than a dozen films, including projects based on Hot Wheels, Fisher Price, and American Girls. Mattel’s CEO envisions a future where movies generate more revenue than toys. The company is also focusing on diversity, introducing more inclusive Barbie dolls with different skin tones, body types, and disabilities. Despite the challenges faced by franchises in Hollywood, Mattel is optimistic about its venture into the entertainment industry.