Hot Wheels Next Out of Mattel's Toy Box to Get Movie Treatment
Mattel has tasted the big movie bucks, and they are ready to keep the Magic 8 ball rolling.
With Barbie comfortably over $1 billion at the global box office, The Hollywood Reporter is reporting that next out of the toy box to get the movie treatment is Hot Wheels.
In Mattel's quarterly earnings call, Executive Chairman & CEO Ynon Kreiz said, "I just want to make the point that the biggest shift in our strategy and in our DNA was to realize that people who buy our product are not just consumers; they are fans".
Kreiz also said, "once you have an audience, the more opportunities open up to engage with your fans... and continue to create value from that engagement".
Despite the WGA and SAG-AFTRA strikes persisting, Warner Bros. is meeting with directors in preparation for the Hot Wheels movie that is yet to have a script.
It makes sense that this would be the next project Mattel is keen to pursue, with their quarterly earnings call revealing that "The Hot Wheels Ultimate Challenge prime time show, which premiered on NBC and Peacock on May 30, has performed well and ranks as a top NBC alternative series". Mattel, Inc. CFO Anthony P. DiSilvestro said, "we expect Barbie and Hot Wheels to grow".
Will Hot Wheels mirror that $1 billion Barbie hit? With the magic behind Barbie coming from the minds of Greta Gerwig and Noah Baumbach, known for their sharp scripts, it feels like that magic will be tough to replicate. Nonetheless, the toy box is well and truly unlocked, and a world of possibility awaits.
