After 'Barbie' success, Mattel looks to He-Man for another box-office lift

Three years ago, Mattel Inc.struck box-office gold — or rather, pink — with the billion-dollar success of “Barbie.” In its first return to theaters since the female-forward phenomenon, the El Segundo toymaker is turning to the brawny He-Man for another box-office lift.

Its latest film, “Masters of the Universe,” opens this weekend, as Mattel looks to build on that previous success and continue extending its signature toy brands into the entertainment arena.“The movie is very much in tune with culture,” said Mattel Chief Executive Ynon Kreiz.“Everything is much more contemporary relative to what was created more than 40 years ago, but it’s still very true to the origin story and to the DNA of the brand.”The new film arrives at a pivotal time for Mattel, which is facing pressure from investors to grow its business.

The maker of Hot Wheels, American Girl and Uno has recently confronted a challenging market for toys, beset by tariffs on goods produced overseas and weaker-than-expected demand for Barbie dolls and Fisher-Price preschool products.L.A.

Influential With a blockbuster in ‘Barbie’ the movie, Ynon Kreiz has solidified Mattel’s turnaround — and charted its future as an entertainment company.Amid uncertainty in the toy market and the fallout from tariffs, Mattel’s net income dropped 25% to $398 million in 2025.And since the company announced disappointing holiday sales totals in February, its stock has dropped more than 30%, closing at $14.34 on Wednesday.The share price slide prompted investor Southeastern Asset Management to send a letter last month to Mattel leadership suggesting the toy maker should sell itself and go private.

Southeastern manages about 4% of the company’s stock on behalf of its clients.“The frustration among investors has been the fact that if you look at the business from 2021 through 2025 and even this year ...the business really hasn’t grown,” said Eric Handler, a Roth Capital senior media and...