Prof G Markets: Twitter’s Rebrand to X, Mattel’s IP Playbook, and What’s Next for Snap

Box Office Impact

The Barbie movie's box office success has significantly impacted Mattel's brand and strategy. Claire Miller highlights that the film, paired with Oppenheimer, grossed $244 million in its first three days, marking the best domestic box office opening since 2019 1. This success has boosted Mattel's stock by 18% year-to-date, despite a 7% drop in Barbie toy sales in the second quarter 1. Scott Galloway praises the strategic move to leverage Barbie's intellectual property across different mediums, likening it to Disney's successful model:

This was a genius move. Barbie is sort of an anachronism. And that is a lot of the associations of Barbie and a doll that says, kind of communicates to the world, be anorexic and then go get a boob job.

--- Scott Galloway

This approach could potentially turn Barbie into a franchise, with sequels anticipated.

   

Future IP Plans

Mattel's future IP endeavors are inspired by the Barbie movie's cultural impact. Scott Galloway notes the film's ability to unite audiences, as seen in the widespread enthusiasm for the "Barbenheimer" experience 2. The movie's success has sparked the idea of a "Mattel cinematic universe," similar to Marvel or DC, with potential films based on iconic franchises like Hot Wheels and American Girl 2. Galloway reflects on the communal experience of cinema:

People often say it's a shame that box office people aren't going to movies anymore because in person, because there's a certain collective, there's a certain feeling of comity, of sharing that experience with a group of strangers.

--- Scott Galloway

This strategy aims to capitalize on Mattel's extensive brand portfolio and revitalize its market presence.