Motley Fool Money
Mattel’s Filmmaking Strategy
Sat Jul 22 2023Description
Mattel is shifting its focus to becoming an IP company, starting with the Barbie movie. They have numerous other films in development, aiming to create a cinematic universe. Nostalgia plays a role in their strategy, but there are concerns about oversaturation. Factors like past successes and broad commercial appeal influence greenlight decisions. Mattel relies on A-listers and takes creative license in video game adaptations. The impact of AI on the entertainment industry is uncertain.
Insights
Mattel's Shift to IP Company
Mattel is transforming into an IP company, with the Barbie movie as their first step. They have a vision of creating a cinematic universe similar to Disney's Marvel Cinematic Universe. However, concerns about damaging the brand's reputation and potential oversaturation in the film industry pose challenges.
Factors Influencing Greenlight Decisions
Executives at Mattel consider various factors like past successes and broad commercial appeal when deciding which projects to greenlight. The presence of popular characters and A-list actors also plays a significant role. Additionally, video game adaptations require careful selection of source material and talented creators.
Importance of Creative License and Innovation
Filmmakers need creative license to make great films. Diverging from expectations and taking risks can lead to the best results. Successful adaptations often take creative license and innovate beyond what is expected. However, the impact of AI on the entertainment industry remains uncertain.
Chapters
- Mattel's Shift to IP Company
- Factors Influencing Greenlight Decisions
- Importance of Creative License and Innovation
Mattel's Shift to IP Company
00:01 - 13:26
- Mattel's CEO, Enon Kreitz, proposed turning Mattel into an IP company rather than just a toy maker.
- The Barbie movie is the first step in Mattel's experiment to build an IP factory.
- Concerns about damaging the brand's reputation have caused delays in the production of the Barbie movie.
- Mattel needs this pivot to revive their brand and change public perception.
- Even before the movie launches, Mattel has seen success in press coverage and partnerships.
- Mattel has 45 other films in development, aiming to create a cinematic universe similar to Disney's Marvel Cinematic Universe.
- Nostalgia plays a role in Mattel's strategy, but it can also be a hindrance.
- Greta Goig incorporated the history of Barbie into her film Bobbi.
- Mattel executives match toys to genres and have many ideas for potential films.
- There is a concern about exhaustion and oversaturation in the film industry, similar to what happened with the MCU.
- Studios prioritize pre-awareness and rely on existing IP for greenlighting projects.
- Filmmakers often need to marry their vision with established IP to secure big budgets.
Factors Influencing Greenlight Decisions
13:03 - 19:43
- Executives use various factors such as past successes and broad commercial appeal to determine what gets greenlit.
- Characters and existing brand of actors play a significant role in drawing audiences.
- Mattel relies on A-listers to establish themselves as serious contenders in the entertainment industry.
- Video game adaptations require careful selection of source material and talented creators.
- Successful adaptations diverge from expectations and take creative license.
- The impact of AI on the entertainment industry is uncertain but could potentially undercut the IP strategy.
Importance of Creative License and Innovation
19:14 - 20:37
- The best results in filmmaking often come from diverging wildly from expectations.
- Filmmakers need creative license to make great films.
- The Last of Us had a successful episode that was not present in the game.
- AI should not be used solely to replicate what has come before.
- Freedom to innovate and take risks is necessary for success.