Mattel has reclaimed highly coveted rights to create action figures and collectibles based on DC characters such as Batman and Superman starting in the second half of 2026.
“It’s a huge deal. You’re dealing with some of the greatest superheroes and some of the best action figure potential in the industry, and we’re incredibly excited by that,” said PJ Lewis, Mattel senior vice president and global head of action figures and Fisher-Price Entertainment.
Mattel lost the global licensing rights about six years ago to develop and market some DC-related toys to rivals Spin Master and McFarlane Toys. Mattel was still allowed to produce DC-themed toys aimed at girls and preschoolers.
The new multiyear deal could help fuel sales for the El Segundo-based toy maker and entertainment company as it competes with contenders such as Hasbro, which produces Marvel superhero action figures.
In 2024, Mattel’s net sales were $5.4 billion, a 1% drop compared with the same period last year. The company’s net income reached $542 million, up from $214 million in 2023. On Wednesday, shares of the company’s stock closed at $21.25, an increase of more than 9% compared with a year earlier.
Mattel and Warner Bros. Discovery, which owns the DC brand, did not disclose the agreement’s financial terms.
Licensing agreements such as this one allow a company to make use of intellectual property owned by another entity, typically in exchange for a fee or a percentage of sales. Along with figurines, Mattel will also be able to create and market DC-themed playsets, accessories and role-play products as part of the deal. The agreement includes rights for all DC stories and characters including Wonder Woman, the Joker and Harley Quinn.
Last year, global toy sales stabilized, in part due to a growing number of adults who purchased toys for themselves. The toy industry struggled after the closure of retail chain Toys R Us in 2018 and amid inflation, but sales surged during the COVID-19 pandemic, when families looked for ways to keep themselves entertained while locked at home. Licensed toy sales also grew and made up 34% of the global toy market, according to market research firm Circana.
“This renewed partnership will reflect our shared passion for engaging and inspiring fans and collectors of all ages,” Nick Karamanos, Mattel’s senior vice president of entertainment partnerships, said in a statement.
The announcement also comes as filmmakers work on new DC movies slated to be released in the next several years. The lineup includes “Superman,” “Supergirl: Woman of Tomorrow,” “Clayface” and “The Batman Part II.”
Film releases, comic books, TV shows and social media videos about superheros can bolster excitement about the release of new toys. In the past, Mattel has produced toys tied to the films “The Dark Knight,” “Batman v Superman: Dawn of Justice” and “Justice League.”
Mattel has a long history of working with Warner Bros. Discovery to develop dolls, games and other toys based on other popular franchises such as Harry Potter, “Friends,” “Seinfeld” and Ted Lasso. In 2022, the company snatched back the rights from Hasbro to produce toys based on Disney’s princesses and characters from the popular film “Frozen.”
Robert Oberschelp, head of Warner Bros. Discovery global consumer products, said the DC brand is one of the company’s “crown jewels” and the battle to obtain the licensing rights was highly competitive. The company considered manufacturers’ business models and track records in design work, distribution and innovation when weighing options.
“What Mattel really brought was a very clear understanding of our brand,” he said, adding that the toy maker’s global reach was an important factor.
“You have content coming every way that’s going to be in front of that fan to get them excited. What we’re going to be able to do is extend that storytelling,” he said.
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