Pandemic boredom has been good for Mattel, the company behind some of the world’s most iconic toy brands, including Barbie and Hot Wheels. Its 2020 online sales were up 50%, as dolls, games and puzzles flew off virtual shelves. Even so, CEO Ynon Kreiz no longer sees Mattel as a toy-manufacturing company. Instead, he says, what they do is IP, with dozens of film and TV projects in development and production in partnership with major entertainment companies and big-name actors. (Think a Barbie movie, co-written by Greta Gerwig and Noah Baumbach, and starring Margot Robbie, and Uno and Whac-A-Mole game shows.) “The opportunity for us is to expand beyond the toy aisle,” Kreiz tells TIME.
More Must-Reads From TIME
- How an Alleged Spy Balloon Derailed an Important U.S.-China Meeting
- Effective Altruism Has a Toxic Culture of Sexual Harassment and Abuse, Women Say
- Inside Bolsonaro's Surreal New Life as a Florida Man—and MAGA Darling
- 'Return to Office' Plans Spell Trouble for Working Moms
- 8 Ways to Read More Books—and Why You Should
- Why Aren't Movies Sexy Anymore?
- Column: Elon Musk Should Not Be in Charge of the Night Sky
- How Logan Paul's Crypto Empire Fell Apart
- 80 for Brady May Not Be a Masterpiece. But the World Needs More Movies Like This