Mattel's latest play to counter slowing Barbie sales: Water parks

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Set us as preferred With Barbie sales slipping, Mattel is looking to its characters and games to build a new revenue stream: water parks.The El Segundo company has been trying to find more ways to turn its roster of beloved toys into bigger moneymakers.Former Chief Executive Ynon Kreiz, who spearheaded a campaign to upgrade earnings from Mattel’s intellectual properties, just stepped down amid investor disappointment.

As Roger Lynch, the former CEO of Condé Nast, takes over as Mattel’s chief, he inherits a struggling strategy to turn Mattel’s portfolio of toys and games into entertainment franchises and experiences that generate revenue away from the toy aisles.One of the latest bets to reduce dependence on Barbie is Mattel’s first Wonder Indoor Waterpark, which is slated to open at the end of 2027 in Bellevue, Neb.The park is expected to cover roughly 100,000 square feet and have a retractable roof for year-round operation.

Construction is underway in a mixed-use area designed to boost tourism in Omaha’s southern suburbs.Some planned attractions include a Barbie activity pool and a Hot Wheels slide tower.It will also feature a lazy river that floats past scenery inspired by Mattel Games, including UNO, Rock ‘Em Sock ‘Em Robots, and Magic 8 Ball.A Mattel spokesperson said the company is exploring opportunities to bring such interactive experiences “beyond traditional destination markets.”Outside Nebraska, the company is planning water parks in Florida, Illinois and North Carolina.

“We see a real opportunity to take the kind of immersive entertainment traditionally concentrated in major markets and bring it to more communities in a scalable, year-round format,” Natalia Premovic, Mattel’s chief consumer products and experiences officer, said in a news release.Mattel’s other park ambitions have had ...