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The company’s technique has paid off to such an extent that even the CEO. I would hardly have believed that this was possible.
By James B. Stewart
When Ynon Kreiz arrived at Mattel in April 2018, the new CEO had a mantra when it came to a feature film starring Barbie, a project he intended to release: he didn’t care if the film sold for just one more doll.
But “Barbie,” the movie had to be a cultural event. It had to be different. The molds had to be broken.
And if that makes Mattel’s chief executive, that is, himself, the object of comic ridicule by portraying the character of the CEO in the film (“vain and stupid to the nth degree,” as The Guardian puts it), so be it. .
This technique has paid off to such an extent that not even Mr. Kreiz would have thought it possible. “Barbie” will gross $1. 4 billion and has surpassed one of the “Harry Potter” films as a Warner Bros. film. ever. This could be close to the $2 billion mark. (The record holder is 2009’s “Avatar,” with $2. 9 billion. )
How Mattel accomplished a feat that had eluded the company for years was the subject of recent interviews with Kreiz; Robbie Brenner, Mattel’s executive film manufacturer; spokespeople for Margot Robbie and Greta Gerwig, the film’s star and writer-director; and others familiar with the doll’s tortuous path to the big screen.
Mattel and Warner jealously maintained their monetary agreements. But other people familiar with the deal said Mattel earned five percent of the box’s revenue, as well as a percentage of profits as the film’s maker and additional bills as the rights owner of Barbie’s intellectual assets. . With $2 billion in revenue per box, this equates to $100 million. Added to this are sales of film-related products, as well as an expected increase in doll sales.
Representatives for Mattel and Warner declined to comment on the financial deals, even though the company’s chief financial officer said Thursday at a conference that the company would make a total of about $125 million from the film.
Although Barbie’s effects weren’t reflected in Mattel’s newest effects, released on July 26, everyone tried to communicate the call for effects, it was “Barbie. “Kreiz hailed the film as a “watershed moment” in the company’s strategy to “capture the price of its intellectual property” and demonstrate its ability to attract and associate with the most sensible artistic skill, a cornerstone of its ambitious roster of toy-themed films.
After the first trailer for “Barbie,” featuring hyperblond and Day Glo dresses Mrs. Robbie and Ryan Gosling skating down Venice Beach, went viral in December, anticipation began to grow. Mattel’s inventory is up. It gained 33%, from $16. 24 on Dec. 19 to $21. 55 this week. The S
Wall Street has been reluctant to give much credit to a single good fortune, believing that good fortune is difficult to replicate. (“Barbie” had no discernible effect on Warner Bros. stock. Discovery).
But for Mattel, the positive effect of “Barbie” goes far beyond a single movie. The company’s strategy of becoming a primary film producer, employing its huge toy warehouse as intellectual property, was met in Hollywood with skepticism, though not outright mockery. The superior ability did not line up to lead a purple stuffed dinosaur like Barney. But today, the belief that Mattel executives are willing to accept as true and help an unorthodox artistic team that delivered a reduced price in the workplace and a potential contender for awards has drastically replaced that.
And Mattel’s unexpected willingness to laugh at itself was one of the elements that most pleased critics and contributed to the uproar that attracted far more moviegoers than the “Barbie” fan base.
The fact that Mr Kreiz is willing to laugh at his own surprised some acquaintances and former colleagues. Israeli army veteran with dual Israeli and British citizenship, former professional windsurfer, kitesurfing and fitness enthusiast, with a more than passing resemblance to a young Arnold. Schwarzenegger, Mr. Kreiz, 58, seems to have more of a GIsquare jaw. Joe action hero who a Barbie fan with a sense of humor.
Mr. Kreiz’s entire career has been spent in media and entertainment, not retail. His mentor, entrepreneur and Power Rangers billionaire Haim Saban hired him fresh out of the University of California, Los Angeles to launch Fox Kids Europe, a joint venture with Fox. He then ran Maker Studios, a YouTube aggregator, acquired through Disney in 2014. Kreiz left the organization in 2016 and the Maker component of Disney Digital Network in 2017.
That “Barbie” was made was no small feat. She had been at Sony for years, with Mattel renewing the option, while various writers struggled to adapt the doll to the big screen. Despite being one of the most popular toys ever, Barbie has been the subject of intense controversy, seen as a symbol of women’s empowerment and as the most unlikely symbol of beauty and femininity. The only feasible strategy seemed to be a farce. Comedian Amy Schumer was in the past slated for the role, but scripts came and went.
A few weeks after becoming CEO in 2018, Kreiz declined to renew Sony’s option, according to several other people interviewed for this article. He called Robbie’s agent and asked for an appointment. Robbie was one of Hollywood’s most sought-after young actresses, brand-new thanks to acclaimed performances in roles such as hapless ice skater Tonya Harding in “I, Tonya”; in Martin Scorsese’s “The Wolf of Wall Street”; and as a staple of Warner’s DC Comics universe as Harley Quinn, the Joker’s ex-girlfriend. And while no human being can reflect Barbie’s exaggerated dimensions, Mrs. Robbie was pretty close, while radiating a healthy beauty.
Robbie contacted Mattel and Kreiz after learning that the “Barbie” option had not been renewed. He was looking for a possible franchise to offer to Warner, where his production company, LuckyChap, had struck an initial deal. But she herself wasn’t looking to star in the film.
Over breakfast at the Polo Lounge of the Beverly Hills Hotel, the sumptuous entertainment and celebrity venue not far from Mattel’s less glamorous headquarters in El Segundo, Kreiz shared his vision: He didn’t need to make videos just to sell toys. After something new, unconventional and daring.
“Our vision for Barbie is someone with a strong voice, a transparent message, with a cultural resonance that would have a social impact,” he said, recalling his message.
Mr. Kreiz’s apparent enthusiasm and determination, coupled with his speech of artistic integrity, make it hard to resist him, as Ms. Brenner, a producer, discovered when she recruited her to head Mattel’s newly created film department at another dinner in the Polo Lounge. Brenner, a renowned manufacturer and Oscar nominee for “Dallas Buyers Club,” was drawn to his concept for a film. According to Mr. Kreiz’s vision, Mattel would be both a film company and a toy company. they bonded after he asked her who would play Barbie, and she also proposed to Mrs. Robbie.
At their first meeting, Ms. Robbie recommended Ms. Gerwig as director. The two were friends and had talked about running together. Kreiz enjoyed the concept in part because it was so unexpected: Gerwig had directed and written acclaimed but quirky independent films like “Frances Ja,” “Lady Bird” and a remake of the classic “Little Women,” but no. Great budget rate.
“Lady Bird” was one of Mrs. Brenner’s favorite movies. But would Mrs. Gerwig be such a massive advertising proposal?
It turned out that Mrs. Gerwig had played with Barbie dolls and enjoyed them. He even had old photographs of his games with Barbie. Brenner met Gerwig and his partner, Noah Baumbach, also a famous screenwriter and director, at an editing center in New York. They pitched some ideas, but nothing concrete came up. As much as possible.
An agreement was reached and Warner signed on as a co-producer. Once Mrs. Gerwig joined, Mrs. Robbie agreed to play the lead role.
At that time, Mrs. Gerwig and Mr. Baumbach withdrew. “I know it’s unconventional and it’s not what we’re used to, but we have to spend a few months in a room. This is how we paint and we need to “Do it,” as Mrs. Gerwig said, Gerwig recalled.
When the script arrived in Brenner’s email, it was 147 pages long, the length of a Quentin Tarantino movie, epic by Hollywood standards. He closed the door of his workplace and began to read. “It’s like going on a crazy adventure,” he said. He broke the rules and added the so-called fourth wall by addressing the audience directly. This mocked Mattel.
As a newcomer to the company, Brenner didn’t know if this would prove too complicated for Mattel executives, but he thought it was a wonderful script.
Mrs. Brenner’s first call to Mr. Brenner. Kreiz. ” I’ve read a lot of scripts and this one is very different,” he told her. “It’s special. You don’t revel in this feeling many times over the course of an entire career.
Kreiz read the script twice in a row. ” It’s deep, provocative, unconventional and imaginative,” he said. “It’s everything I expected. “
Mrs. Brenner was pleasantly surprised. ” Ynon is a very confident person,” she said. “He knows how to laugh at himself. “
At one point, Kreiz flew to London, where the sets for “Barbie” were being built at Warner’s studio on the outskirts of the city. He and Mrs. Gerwig spent half an hour discussing what the best shade of pink was.
Mr Kreiz and Mrs Brenner knew they were at potential risk. “It’s our secret that we can’t communicate,” Brenner recalls.
The initial budget target of $80 million topped $120 million once Gerwig signed. But even that wouldn’t make the director’s full vision for the film a reality. For Warner executives, it was difficult to locate the so-called “comps,” similar films that had done enough to justify such an expense.
Could it be “Barbie” some other 2019 “Charlie’s Angels,” which had a $55 million budget but only grossed $73 million and, after marketing costs, lost money?Or some other “Wonder Woman” of 2017, with a budget of more than 100 million dollars?, with an international gross amount of $822 million?
Finally, the budget reached $141 million and, with some repetition, exceeded $150 million.
On opening night, July 21, Kreiz took his 19-year-old daughter to the Regal Movie Complex in Manhattan’s Union Square. As they approached the cinema, crowds of moviegoers (young women only) headed there dressed in pink suits. Five screenings were underway. Everyone was exhausted.
Mr. Kreiz and his daughter came and went to gauge the public’s reactions. People laughed, clapped and, in some cases, shed tears.
Of course, the good fortune of “Barbie” has dramatically raised the bar (and expectations) for Mattel’s films in development, starting with “Masters of the Universe,” written and directed by brothers Adam and Aaron Nee. Twelve other films are in the stage stage. of development, adding a “Hot Wheels” produced through J. J. Abrams, also at Warner. Some of them might want to be rethought.
And there will no doubt be “Barbie” sequels, maybe even a James Bond-style franchise, which would be M’s ultimate fantasy. Kreiz (although he said it too soon to talk about such plans).
Kreiz said that in a notoriously volatile and unpredictable sector, long-term good luck is hardly assured. But “Barbie” gave Mattel a boost: the start of what it calls “a multi-year franchise control strategy. “
An earlier edition of this article mistakenly knew one of the other people talking about pink sunglasses in London. It was Greta Gerwig and Ynon Kreiz, not Robbie Brenner and M. The article also mistakenly knew one of the other people who said the movie “Barbie” is a possible hit. It is Mrs. Brenner and Mr. Kreiz, not Margot Robbie and Mr. Kreiz.
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James B. Stewart is a Times columnist and author of nine books, most recently “Deep State: Trump, the FBI and the Rule of Law. “He won the Pulitzer Prize for Explanatory Journalism in 1988 and is a professor of Business Journalism at Columbia. Learn more about James B. Stewart
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