MAT Mattel, Inc. - Common Stock

Mattel, Inc. is an American multinational toy manufacturing and entertainment company headquartered in El Segundo, California. Founded in Los Angeles by Harold Matson, Ruth and Elliot Handler in January 1945, Mattel has a presence in 35 countries and territories. Its products are sold in more than 150 countries.

Mattel is the world's second largest toy manufacturer by revenue, after the Lego Group. Mattel's brand Barbie was named the top global toy property by the NPD Group in 2020 and 2021, while its brand Hot Wheels was named the top-selling global toy for both of those years.

History

Origins and early years

Businessman Harold "Matt" Matson and the husband-and-wife duo of Ruth and Elliot Handler founded Mattel as Mattel Creations on January 20, 1945, in a garage in Los Angeles. The name "Mattel" is a portmanteau of "Matson" and "Elliot". The company began selling picture frames and later dollhouse furniture made from frame pieces. Suffering from poor health, Matson sold his share of the company to the Handlers the following year, with Ruth taking over his stake. In 1947, Mattel had its first successful toy, a ukulele called "Uke-A-Doodle".

Mattel was incorporated in Hawthorne, California, in 1948. The company started advertising on television when it became the first sponsor of the Mickey Mouse Club series. The Barbie doll debuted in 1959, and would become Mattel's all-time best-selling toy. In 1960, the company introduced Chatty Cathy, a talking doll voiced by June Foray. The doll revolutionized the toy industry, leading to pull-string talking dolls and similar toys flooding the market throughout the 1960s and 1970s. In 1961, Mattel introduced the Ken doll. The company went public in 1960 and became listed on the New York Stock Exchange three years later.

The Barbie Dreamhouse, made from cardboard and paper, was released in 1962. That same year, the company introduced Astronaut Barbie, the first of many space-themed versions of the doll. In 1965, Mattel built on the success of the Chatty Cathy doll when it introduced the See 'n Say talking toy, which spawned an additional line of products. In 1967, Mattel released a set of space-themed toys which included a character named Major Matt Mason.

On May 18, 1968, Mattel introduced Hot Wheels, which was created by a team that included a car designer and a rocket scientist. That same year, the company introduced Christie, Barbie's friend and the company's first Black doll. Christie was followed by a continuous line of additional Barbie-related characters over subsequent decades. In 1969, the company changed its Mattel Creations and Mattel, Inc.: Toymakers brands to simply "Mattel" and launched the "red sun" logo. Mattel also acquired a series of other companies during the 1960s.

In 1970, Hot Wheels forged a sponsorship agreement with drag racing drivers Don "The Snake" Prudhomme and Tom "The Mongoose" McEwen. The racers' cars, a yellow Barracuda and a red Duster, were reproduced as Hot Wheels toys. That same year, Mattel formed a joint venture film production company, "Radnitz/Mattel Productions" with producer Robert B. Radnitz, and later entered a multimillion-dollar partnership with Mehra Entertainment, whose CEO, Dr. Nishpeksh Padmamohan Mehra, became a director of the Barbie film series.

In 1971, Mattel purchased The Ringling Bros. and Barnum & Bailey Circus from the Feld family for $40 million, but retained the Felds in a management capacity. After experiencing financial difficulties in 1972, Mattel sold the circus corporation, despite its profitability.

In 1974, an investigation found Mattel guilty of issuing false and misleading financial reports, which led to the ousting of Elliot and Ruth Handler from the company.

Post-Handlers

Arthur S. Spear, then a Mattel vice president, took control of the company in 1975 and returned it to profitability within two years. In 1978, the Mattel Children's Foundation was founded. Ruth Handler sold her Mattel stock in 1980.

Mattel debuted its electronics line in 1977 with a handheld electronic game. Its success led to its expansion with game consoles, and then the line was eventually incorporated in 1982. Mattel Electronics caused Mattel to take a $394 million loss the following year and almost file for bankruptcy.

In 1979, Mattel purchased the Holiday on Ice and Ice Follies properties for $12 million through Feld Productions. That year, Mattel also acquired Western Publishing for $120 million in cash and stock, which it sold to Richard A. Bernstein four years later.

In 1980, Mattel introduced its first Hispanic Barbie doll and its first African-American Barbie doll. In 1982, Mattel released He-Man and Masters of the Universe action figures, which inspired a three-issue comic book mini-series, an animated series, and a live-action film.

The Felds bought the circus (and related companies) in 1982 for $22.8 million.

In the early 1980s, Mattel produced video game systems under its brands and licenses from Nintendo in several countries.

In 1985, the company launched the Barbie "We Girls Can Do Anything" TV advertising campaign to encourage girls to believe in themselves. They also released the CEO / Day-to-Night Barbie to celebrate women becoming CEOs. In 1986, Barbie joined the list of famous individuals painted by Andy Warhol.

New York City-based venture capital firms E.M. Warburg, Pincus & Co., and Drexel Burnham Lambert invested a couple of hundred million dollars in Mattel in 1984 to help the company survive. However, sales of the Masters of the Universe action figure line declined, leading to lower revenue in 1987.

In the late 1980s, John W. Amerman, who joined Mattel in 1980 as head of its international division, was named the company's new chairman and, in 1987, improved its financial performance by focusing on core brands. It paid off as sales of Barbie dolls and accessories increased from $430 million to almost $1 billion between 1987 and 1992.

Mattel secured licensing and sponsorship rights from The Walt Disney Company in 1988 for a new line of infant and preschool plush toys, to sponsor attractions, and to develop and sell toys at three Disney theme parks. Mattel also negotiated the exclusive rights to sell dolls, stuffed characters, and preschool toys based on Disney characters. On January 31, 1988, Mattel shut down its operations in the Philippines. It shifted the distribution and sales of Mattel-branded toys and games to Richprime Global, Inc. (formerly Richwell Trading Corporation). Mattel returned to working with Disney the following year. In 1989, Mattel purchased Corgi Toys.

In 1991, Mattel moved its headquarters from Hawthorne to its current El Segundo site, in Los Angeles County.

Acquisitions: International Games, Fisher-Price, American Girl, Bluebird Toys

In 1992, Mattel created the first President Barbie. Barbie has run for president seven times since 1992, and an all-ticket was released in 2016.

On October 8, 1992, Mattel opened its first production factory in Indonesia at the Jababeka Industrial Park in Cikarang, West Java, as the west plant, and expanded by opening a new plant in 1997, as the east plant. The west plant is now the main factory of Hot Wheels 5-car pack edition, and the east plant is now the main factory of Barbie dolls.

Mattel entered the gaming business in 1992 with the purchase of International Games, creators of UNO and Skip-Bo. The company purchased Fisher-Price, Inc. on August 20, 1993, and Tyco Toys, Inc. (owners of the Matchbox and Dinky Toys brands) in 1997. In 1998, Mattel acquired Pleasant Company (creators of the American Girl brand) and Swindon, England-based toymaker Bluebird Toys (along with its most prized property, Polly Pocket). In the same year, the first American Girl retail store opened for business in Chicago.

In 1997, the Fisher-Price Little People toys underwent a redesign to look more like real kids with different skin colors, added arms and hands, and greater detail on the face, hair, and clothes. Also that year, Mattel acquired View-Master, and Hot Wheels partnered with NASCAR drivers Kyle Petty and Jack Baldwin leading to the production of the first NASCAR-themed vehicles.

In 1998, Mattel donated $25 million to help rebuild UCLA's children's hospital, which was later renamed the UCLA Mattel Children's Hospital. Barbie was inducted into the National Toy Hall of Fame that year. The same year, Mattel purchased Bluebird Toys.

Mattel purchased The Learning Company (formerly SoftKey) in 1999 for $3.5 billion, but sold it the following year at a loss. The company had a $430.9 million net loss that year.

On July 21, 1999, Mattel entered into an alliance with Japanese toy and entertainment company Bandai that would allow Mattel to sell Bandai's toylines in Latin America while Bandai handles Mattel's products in Japan.

Mattel earned the first grant for the Disney Princess doll license in 2000. In December 2000, Mattel sued Danish-Norwegian Europop band Aqua, claiming their song "Barbie Girl" violated the Barbie trademark and turned her into a sex object, referring to her as a "blonde bimbo". The lawsuit was rejected two years later.

In 2000, Mattel signed a deal with Warner Bros. to become the master licensee for Harry Potter branded toys. It was extended in 2002; Mattel became the master licensee for DC and Looney Tunes toys for all markets except Asia.

In 2001, the first life-sized Hot Wheels car, the Twin Mill, was created. More than twenty life-sized cars were created, and all of them were inducted into the Hot Wheels Garage of Legends.

American Girl launched its "Girl of the Year" campaign in 2001 to highlight dolls with contemporary stories; each doll is only available for a year. In 2006, Mattel purchased Radica Games.

In 2002, the company closed its last factory in the United States; the factory had originally been part of Fisher-Price's outsourcing of production to China. A chain of events led to the distribution of millions of hazardous toys, including those contaminated with lead. On August 14, 2007, Mattel recalled over 18 million products, with Louise Story of The New York Times in close coverage. Many of the products had surface coatings that contained more than the U.S. legal limit of .06% lead by weight. Other toys were recalled because their strong, detachable magnets could endanger children. Mattel rewrote its policy on magnets, finally issuing a recall in August 2007. The recall included 7.1 million Polly Pocket toys produced before November 2006, 600,000 Barbie and Tanner Playsets, 1 million Doggie Daycare, One Piece and thousands of other toys due to exposed magnets. In 2009, Mattel paid a $2.3 million fine to the U.S. Consumer Product Safety Commission for marketing, importing, and selling non-compliant toys. Mattel was noted for its crisis response by several newspaper publications, including PRWeek, the Los Angeles Times, Fortune and Business Management.

On January 5, 2009, HIT Entertainment named Mattel's Fisher-Price division as its global master toy licensee for its Thomas & Friends franchise (outside of Japan), replacing RC2 Corporation's Learning Curve brand in the North American market as well as the HIT Toy Company for the TrackMaster range.

On September 13, 2009, Mattel's ticker symbol moved from the NYSE to the NASDAQ Global Select Market (NASDAQ-GS large cap).

More acquisitions and brand portfolio expansion

At the end of 2009, Mattel signed a global licensing agreement with WWE to produce action figures and playsets along with props like championship belts and masks, taking over from Jakks Pacific. The first line was introduced in January 2010. Having developed a diverse portfolio of toys in more than 50 global markets and consistently ranked as the No. 1 action figure property in the United States, Mattel launched multiple collaborations such as WWE and Ghostbusters and WWE and Masters of the Universe.

The partnership deal was extended multiple times, most recently in 2025.

On June 11, 2010, Mattel launched Monster High, a fashion doll line featuring the teenage children of famous and well-known monsters like Dracula, Frankenstein, Medusa, Werewolf, and The Mummy. It led to popularity and cult following success which Mattel translated into two spin-offs, each with a different focus than Monster High; Ever After High in 2013 and Enchantimals in 2017. In 2011, Hot Wheels set a new world-record for a jump made by a four-wheeled vehicle at the 100th anniversary of the Indy 500. The 332 foot jump broke the previous 301 foot record set in 2009.

Mattel agreed to purchase HIT Entertainment from Apax Partners on October 24, 2011, for $680 million, excluding its share of the PBS Kids Sprout channel (now Universal Kids), which would be completed on February 1, 2012, for £680m, and be managed under Mattel's Fisher-Price unit. In 2012, Mattel introduced a doll, Ella, to the Barbie line. The doll is bald and was distributed directly through hospitals to children experiencing hair loss due to cancer and other diseases. The same year, Mattel purchased HIT Entertainment. On October 16, 2013, with reports of high profitability, Mattel launched an in-house film studio, Mattel Playground Productions, through which it produces original films, television shows, web series, live events, and games.

Fortune Magazine named Mattel one of the top 100 companies to work for in 2013, noting only 1,292 positions were full, out of 164,045 job applications during the previous year, as well as more than 1,000 employees had been with the company longer than 15 years.

On February 28, 2014, Mattel acquired Mega Brands. In February 2015, an upgraded View-Master to provide a virtual reality viewing experience was announced through a partnership with Google Cardboard. On April 16, 2015, Mattel announced a partnership with invention platform Quirky to crowd-source several products.

The next year, Mattel acquired Fuhu, the maker of Nabi tablets and other technology-driven hardware, in a bankruptcy proceeding for $21 million.

Mattel added a princess-themed Barbie line in 2010. Barbie sales began to plummet in 2012, prompting a shift away from the Disney Princess line. Mattel had only sold Cinderella, Ariel, Belle and the two Frozen princesses (Anna and Elsa) around its last year of the Disney license in early 2016. With these competing lines and an expiration of the brand license at the end of 2015, Disney gave Hasbro a chance to gain the license given their work on Star Wars, which led to a Descendants license. Disney Consumer Products also attempted to evolve the brand from "damsels" to "heroines". In September 2014, Disney announced that Hasbro would be the licensed doll maker for the Disney Princess line, starting on January 1, 2016.

On March 30, 2016, Mattel formed a "senior head" division called Mattel Creations to centralize its multi-platform content output. In the process, the production teams and operations of Mattel Playground Productions, HIT Entertainment, and the American Girl content-creation team in Middleton, Wisconsin were absorbed by Creations the following day. On July 19, 2016, NBCUniversal announced Mattel's license acquisition to produce toys based on the Jurassic Park franchise after Hasbro's rights expired in 2017.

While formerly associated with content productions, as of 2020, Mattel Creations began to operate as an e-commerce and content platform of Mattel, Inc. In April 2020, the company released a Thomas & Friends special titled "The Royal Engine" to celebrate the franchise's 75th anniversary, featuring animated versions of Queen Elizabeth and a young Prince Charles introduced by the Duke of Sussex. In the same month, the new Basquiat Barbie was introduced, featuring the work of the artist Jean-Michel Basquiat. Mattel also created an online resource, "Mattel Playroom", to provide free games, activities, coloring sheets, DIY projects resources for parents/caregivers and more to help families during the COVID-19 pandemic.

Hasbro's attempted takeover and Mattel163

Former Google executive Margo Georgiadis was announced as the company's CEO on January 17, 2017. On November 10, 2017, The Wall Street Journal reported that Hasbro had made a takeover offer for Mattel, with Hasbro worth about $11 billion at the time and Mattel, $5 billion. The latter rejected the offer less than a week later, according to Reuters.

On January 29, 2018, Mattel and Chinese internet technology and video game company NetEase formed a joint venture mobile publishing and development studio, Mattel163, aimed at creating apps based on the former's key brands. That same year, American Girl released "Create Your Own", allowing kids to create a doll from scratch and customize everything including facial features, hair, accessories and outfits, and the doll's favorite places and hobbies.

Company reorganization and production partnership increments

In January 2015, board member Christopher Sinclair replaced CEO Bryan Stockton, following with 2/3 of senior executives resigning or receiving lay off.

On April 19, 2018, Mattel named former Maker Studios CEO Ynon Kreiz as chairman and the replacement CEO for outgoing CEO Georgiardis, who moved on to head Ancestry.com, effective April 26, 2018. Two months later, the company laid off 2,200 employees partially due to the liquidation of Toys "R" Us in the U.S. Kreiz started reorganization of Mattel which included new board of directors and added that executives having entertainment backgrounds and a global franchise management group had been charged with finding new opportunities in existing markets.

On 30 August 2018, Mattel announced the formation of its global franchise management division, to be led by Janet Hsu as chief franchise management officer. The division was mandated to seek out new commercial opportunities plus to bring together consumer products, content development and distribution, digital gaming, live events, and partnerships. Hsu was previously the CEO of Saban Brands, where Frederic Soulie last worked before being appointed as senior vice president of content distribution and business development in the franchise division on September 28, 2018. Hot Wheels celebrated its 50th anniversary the same year by recreating and selling as a set the original 16 Hot Wheels die-cast cars. That same year in September, Thomas & Friends announced an alliance with the United Nations to introduce some of the organization's Sustainable Development Goals, including quality education, gender equality, clean water and sanitation, sustainable cities and communities, responsible consumption and production and life on land, into the show's content.

On December 24, 2018, Mattel announced the loss of the DC Comics toy license to Spin Master starting in the spring of 2020, hitting an 18-year low on its share price, which concluded at $9.25 per share.

Mattel reorganized Mattel Creations and renamed it Mattel Television on February 5, 2019, which would be headed by former Disney Branded Television programming executive Adam Bonnett. On June 30, 2020, Fred Soulie in turn was "role-tripled" to general manager and senior vice president of the new division.

On March 9, 2019, Mattel celebrated Barbie's 60th anniversary. As part of the anniversary celebrations, Mattel released 20 new role model dolls in its Shero line to recognize influential women around the world. Mattel donated $1 from every sale to its Dream Gap Project Fund, which aims to work with other organizations to end the issue of girls seeing themselves as less capable than boys.

In June 2019, Mattel released a new Hot Wheels ID line of cars, which are embedded with NFC chips so that people can scan the cars and then build tracks, race, and view race stats for combined digital and physical racing play. On December 16, Mattel released an update that allowed kids to scan their cars into an app and then access different coding exercises. On August 19, 2019, Mattel announced a reboot of He-Man and the Masters of the Universe, including new toy lines and brand extensions, a new comic book series and a Netflix series.

In October 2019, Mattel released Hot Wheels Monster Trucks, which included a full line of die-cast vehicles, and a national live-event tour, Hot Wheels Monster Trucks Live. The company also released a line of gender-neutral dolls called the "Creatable World". Mattel Children's Foundation announced and organized its second annual "Global Day of Play", a company-wide community service initiative that focuses on working with nonprofits and organizations around the world to give children a day focused on the power of play.

Warner Music Group's Arts Music division arranged to become the distributor of Mattel's music catalog on May 1, 2020. Arts Music planned to make available hundreds of never-before-released songs and new songs for existing brands, with the 8th May digital launch of Thomas & Friends birthday album first up which was managed/handled by ADA Worldwide under the pseudonym label: "Mattel–Arts Music." Also in May 2020, Mattel announced an initiative known as "Play it Forward" which focuses on using Mattel brands to give back. The first Play it Forward program was #ThankYouHeroes, which included a collection of action figures and Little People characters who represent those who work essential jobs during the COVID-19 pandemic, like doctors, nurses, emergency medical technician (EMTs) and delivery drivers. On October 15, 2020, Mattel celebrated Fisher-Price's 90th anniversary by creating a virtual Toy Museum, which featured more than 90 different exhibits created by artist, set designer and photographer Leila Fakouri. Mattel Creations was also launched that month; it is an e-commerce and content platform. It features limited edition, curated items made in collaboration with pop-culture artists. The site's inaugural collection included the Artist Collaboration Collection, featuring brands Barbie, Masters of the Universe, Hot Wheels, and the Magic 8 Ball as well as artists Gianni Lee, Cristina Martinez, Travis Ragsdale, and Distortedd.

On October 12, 2020, Mattel greenlit over 140 new episodes and two specials for Thomas & Friends, in partnership with Corus Entertainment's Nelvana Studios but instead retooled it into a traditionally-animated reboot titled Thomas & Friends: All Engines Go, which began on September 13, 2021. That ended the show at 24 series/seasons over 37 years.

On November 20, 2021, Mattel launched a non-fungible tokens (NFTs) marketplace to allow fans purchase digital collectibles for its flagship brands Barbie and Hot Wheels.

Mattel again became the licensed doll maker for Disney Princess, in January 2022, replacing Hasbro. The latest collection of dolls was available for purchase in January 2023.

On April 5, 2022, the Mattel board of directors led by its CEO, Ynon Kreiz, named company chief commercial officer, Steven Totzke, as company co-president with Richard L. Dickson alongside his original post and would continue to report to Kreiz as before.

On May 25, 2022, Mattel launched the first transgender Barbie doll, held by Laverne Cox. At the same year, Miniso Group Holding Limited (NYSE:MNSO, SEHK:9896) started its partnership with Mattel to produce Barbie-themed products, and become their official merchandise partner and official accessories supplier for Barbie globally. More than 120 variants of Miniso-Mattel collaboration products were officially launched by July 21, 2023, in China and the US, coinciding with the theatrical release of Barbie. The products are launched on several locations, included MINISO headquarters in Guangzhou & its flagship store in Changsha and Hanoi, Vietnam, the Chinese Mattel's branch office in Shanghai and Foshan, and MINISO's flagship stores in Irvine Spectrum and Times Square, and also in Mattel headquarters in El Segundo, California.

In April 2023, Mattel introduced a Barbie doll with down syndrome in collaboration with National Down Syndrome Society (NDSS), and continued to expand its Barbie line to include more dolls representing individuals with down syndrome and vision impairments in 2024. This initiative is part of Mattel's ongoing efforts to promote diversity and inclusivity, allowing children to see themselves reflected in their toys. At the same year, Miniso Group Holding Ltd acquired several percentage of Mattel's shares after successfully releasing the Barbie-themed collaboration products since 2023, as part of the Mattel-Miniso IP partnership, and the acquisition was officially announced at the Barbie 65th anniversary celebration in April 2024 after opening its largest Barbie-themed store in Malaysia on March 30, 2024, located at Berjaya Times Square.

In July 2024, the company was approached by the private equity firm L Catterton with a total buyout acquisition offer. The deal was ultimately declined. Also in July 2024, Mattel releases Sue Bird doll as part of Barbie 65th anniversary celebration, coinciding with launches of "Give Limitless Possibilities" as a new campaign of Barbie.

In November 2024, it was discovered on X (formerly Twitter) that a brand of Wicked themed dolls produced by the company inadvertently linked to an adult website instead of a similar link to the website for the Wicked movie. Mattel apologized for the error, and asked parents who had bought products with the incorrect website to destroy the packaging. Earlier the same year, a song from the film, Ariana Grande's version of "Popular", was leaked via Mattel-produced singing dolls, causing minor backlash.

In December 2024, Mattel released the Barbie Deluxe Style line, which focuses heavily on Barbiecore and Glam Aesthetics. They were released on the Mattel Creations website.

In May 2025, Mattel released the first-ever Mattel Brick Shop building set, in collaboration with Hot Wheels.

On June 2, 2025, Mattel announced the combination of its audiovisual production divisions, Mattel Films and Mattel Television (internally known as Mattel Television Studios), into a successor division named Mattel Studios, which will serve both functions and discontinue them as separate divisions within the company. This could be seen as a revival of the brand/banner Mattel used occasionally or sparingly between 2011 and 2013 in place of their logo in the closing credits for media entries for Monster High, Ever After High and Polly Pocket. Consequently, productions in development at both Mattel Films and Mattel Television will be absorbed into/transferred to this division. With the announcement, Mattel promoted and transferred the head of their filming division, Mattel Films, Robbie Brenner, to the new division as president and its chief content officer. Mattel Studios also named former Legendary Entertainment executive vice president of television and digital media, Jennifer Breslow, the head of its television section, and Darian Lanzetta, a former motion picture literary agent at the Creative Artists Agency (CAA), and Tom McNulty, former principal/president at MC Squared Media, as co-heads of its filming section. All three are expected to report to Brenner in the future media decisions of Mattel.

On July 8, 2025, Mattel launches the first ever Barbie doll with type-1 diabetes, along with two additional new dolls: Peloton fitness instructor, Robin Arzon from the US and model Lila Moss from the UK.

In February 2025, Mattel also reacquired the global license to produce DC Comics-themed toys, including action figures and playsets, through a multi-year agreement with Warner Bros. Discovery that begins during the second half of 2026. On August 14, Mattel launched a One-of-a-Kind Barbie Doll to celebrate its 80th anniversary coinciding with 80th anniversary of the Independence of Indonesia.

In 2025, Mattel announced that it was adding a Ken doll modeled after LeBron James to its Barbie toy line. The doll is an inch taller than a standard Ken doll.

In February 2026, Paramount named Mattel as its master toy licensee for its Teenage Mutant Ninja Turtles franchise, replacing Playmates Toys. That same month, Mattel announced the acquisition of NetEase's stake in the Mattel163 game development company for $159 million. The acquisition granted Mattel full ownership over the business following the previous collaboration with NetEase on the development studio. The transaction was expected by the end of Q1 in 2026.

Media and entertainment ventures

Mattel has a long history of media engagement since its foundation with the advertising of products from its brands including Barbie, Monster High and Polly Pocket, but the venture into full-time entertainment began in May 1970, when it teamed up with producer Robert B. Radnitz to form a joint venture film production company, "Radnitz/Mattel Productions". Masters of the Universe and its lead character He-Man had a cartoon series which released between 1983 and 1985 and was followed by a live-action film in 1987. In 1986, Mattel launched a television syndication unit; MTS Entertainment, headed by John M. Weens, to distribute the Captain Power and the Soldiers of the Future syndicated television show.

My Scene, with Mattel's flagship Barbie brand, launched in 2002 and wasted little time in invoking a film franchise of DVD-exclusive/direct-to-DVD animated films. Polly Pocket was created by Chris Wiggs in 1983 for his daughter Kate as a private toy, and from 1989, it was housed at Bluebird Toys, which Mattel acquired in 1998, and also followed suit.

With Lionsgate and its acquired and merged companies in Artisan Entertainment and Family Home Entertainment, Mattel's flagship Barbie brand was adapted into a series of successful animated direct-to-video films, which moved to Universal in late 2006. As of September 2021 it has been jointly handled by Mill Creek Entertainment and NCircle Entertainment, with the latter solely for American retailers. Monster High followed Barbie just months after its launch in 2010 and many "American Girl" films were made.

Mattel agreed to purchase HIT Entertainment without the stake in the Sprout TV channel (formerly PBS Kids Sprout and later Universal Kids) from Apax Partners on 25 October 2011, for $680 million, which closed on February 1, 2012, making it part of its Fisher-Price division. HIT Entertainment was absorbed into Mattel Creations (later Mattel Television) in 2016, with its intellectual property (IP) brands shared equally between HIT Entertainment and Mattel Films upon the latter's formation on September 6, 2018.

On October 16, 2013, with reports of high profitability, Mattel launched an in-house film studio, Mattel Playground Productions (shortened to Mattel PGP or just PGP) as its in-house film studio to handle multimedia productions and foster creative storytelling for its brands for global multi-platform distribution.

Mattel formed a division named Mattel Creations on March 30, 2016, to absorb Mattel Playground Productions, HIT Entertainment, and the American Girl content creation team in Middleton, Wisconsin and centralize its multimedia content output. Mattel Playground Productions was revived as Mattel Films on September 6, 2018, and it was solely based on its brands as opposed to its predecessor. The 2023 film Barbie was the first film released by Mattel Films. Mattel reorganized Mattel Creations, renaming it Mattel Television on February 5, 2019, and hired former Disney Branded Television programming executive Adam Bonnett as its head.

Mattel announced it started construction on the Mattel Adventure Park in Glendale, Arizona. The 9-acre park would feature popular Mattel brands, including Barbie, Hot Wheels, Thomas & Friends and Uno. It would have multiple themed roller coaster rides amongst other attractions. The park will open in 2027.

Mattel announced a new game called Pictionary Vs. AI in September 2023. It is a version of its visual guessing game where an AI model does all the guessing. A smartphone is used as the medium. Players draw cards that assign a given word, then draw whatever that word is before letting AI guess what they've drawn.

Mattel announced plans to develop indoor water parks, called Mattel Wonder, in November 2025.

Mattel Digital Gaming

Mattel has expanded its presence in digital gaming, including video games, mobile games, NFTs, and Web3.

In 2017, Mattel and tech startup Osmo launched MindRacer, a Hot Wheels racing game for the iPad.

The first game to be released, UNO!, originally launched for Facebook Instant Games and was later available for iOS and Android.

Other mobile and video games include:

Phase 10: World Tour (2019)

Hot Wheels Infinite Loop (2019)

Hot Wheels Open World (2020)

Skip-Bo (2021)

Hot Wheels Unleashed (2021)

He-Man and the Masters of the Universe: You have the Power (2022)

Hot Wheels

In September 2021, Mattel and Milestone released Hot Wheels Unleashed on PC, PS4, PS5, Xbox One, Xbox Series X|S, and Nintendo Switch. In the arcade-style racing game, based on the Hot Wheels toyline, players race customizable Hot Wheels cars in everyday settings like kitchens and bedrooms. Players had the opportunity to submit their car designs in the "Hot Wheels Unleashed Design Battle", and the winning design was used to create a Hot Wheels toy available for purchase in December 2022. The contest ran between January, 2022 and February 2022. More than 10,000 livery designs for the Hot Wheels Rodger Dodger die-cast model were submitted using the in-game Livery Editor. The winning Rodger Dodger was transformed into a real Hot Wheels toy made available for purchase globally in December 2022.

In June 2022, Hot Wheels partnered with the Forza Horizon 5 video game to reveal a Hot Wheels expansion pack in-game.

He-Man and the Masters of the Universe

In April 2022, Mattel launched a new game on Roblox inspired by the He-Man and the Masters of the Universe toy line and 2021 Netflix series. Developed by Gamefan, He-Man and the Masters of the Universe: You have the Power is a player-versus-player (PvP) battle-style game available through Roblox on Xbox One, PC and mobile devices. In December 2022, Mattel made three Masters of the Universe characters available for purchase on Rec Room, a virtual reality multiplayer online game. For a limited time in November 2022, Masters of the Universe characters joined Fall Guys a free battle royale-style game on Nintendo Switch, PlayStation, Xbox, and PC. Mattel and video game developer Mediatonic later released Masters of the Universe figurines in the style of Fall Guys.

Barbie and Polly Pocket

In September 2022, Mattel's Barbie and Polly Pocket characters became available on Roblox's Livetopia, an open-ended role-playing video game. Players also had the chance to explore Barbie's Dreamhouse, in honor of the toy's 60th anniversary. It was announced that a Barbie-themed game called Barbie DreamHouse Tycoon will be coming to Roblox. Players can customize their characters and houses and play career-themed games.

Minecraft

In January 2023, Mattel, Mojang Studios, and Cyclone Designs released the Minecraft Creator Series Camp Enderwood DLC map, in addition to the new Minecraft toy line released the previous year. In Camp Enderwood, a free download from the Minecraft Marketplace, players engage in a summer camp experience with activities like fishing and hiking.

Fortnite

In 2025, Mattel began launching themed multiplayer games in Fortnite, beginning with Monster High.

Roblox

Since releasing He-Man and the Masters of the Universe in 2022, Mattel has released additional titles within Roblox, including Monster High in 2025 and UNO: Bridge Clash in 2026.