Mattel has promoted Robbie Brenner, the producer at the helm of the record-breaking “Barbie” movie, to president of the film division, the company said Thursday, a move that comes as the company plans over a dozen live-action releases centered around its characters.
“Under Robbie’s leadership, we look forward to continue growing Mattel Films and bringing more exciting stories with cultural impact to the big screen to the delight of fans around the world,” said Ynon Kreiz, chief executive and chairman of Mattel, in a statement.
Brenner came to Mattel in 2018, joining a group of entertainment-industry veterans assembled by Kreiz to marshal more of the company’s intellectual property into movies and television shows. The Mattel Films division was also created in 2018.
Brenner previously worked as an independent producer for the 2013 Academy Award-nominated film “Dallas Buyers Club” and held leadership roles at Miramax, 20th Century Fox and independent studio Relativity.
Mattel’s earnest push to commercialize toy properties into entertainment value first began in 2018 – the company’s erstwhile in-house studio, Playground Productions, had disappointed and competitors like Hasbro had already proven the success of IP-driven entertainment with the “Transformers” franchise. Mattel Films is now racing to join those ranks, with the Warner Brothers-produced “Barbie” as its pilot and an additional 14 live-action movies around its properties like Hot Wheels, Polly Pocket, American Girl and Thomas and Friends in the works – all of which will be overseen by Brenner.
“Barbie” made $1.36 billion at the global box office, making it the highest grossing release of the year. Mattel expects to make over $125 million in revenue from the movie through its cut as well as merchandising and license agreements, boosting hopes for a more robust Q3. Mattel’s second quarter earnings were down 12% from last year.
Mattel stocks rose slightly on the day of the announcement before dipping back down at market close. The high-profile promotion came on the heels of five years at the top for Brenner, making it likely that the step up was more about recognition for her work than material change in her role.
“I didn’t see it as having any major impact on the stock of the company,” Jim Chartier, an analyst at Monness, Crespi, Hardt and Co., said of the promotion. “She’s done a good job and this was a way of rewarding her for what she’s done and what they expect her to do in the future.”