**Mattel CEO Ynon Kreiz Talks About Transforming the Toy Company and the Launch of Mattel Films**
**Introduction**
This week’s episode of Fortune’s Leadership Next podcast features a conversation between co-hosts Alan Murray and Michal Lev-Ram and Mattel CEO Ynon Kreiz. The discussion covers various topics, including Mattel’s transformation into an intellectual property (IP) powerhouse, the launch of Mattel Films, and the role that Mattel products play in children’s development.
**Mattel Films: A New Venture for Mattel**
One of the highlights of the podcast is the discussion about Mattel Films, the film production division of the toy giant Mattel. Kreiz reveals that the highly anticipated Barbie movie, set to be released on July 21, is the first live-action feature produced by Mattel Films. Murray and Lev-Ram express their excitement about the movie, sharing their personal connections to the Barbie brand.
**Ynon Kreiz: The Turnaround CEO**
Kreiz, who took over as CEO of Mattel in 2018, is no stranger to turnaround situations. When he joined the company, Mattel was facing challenges, including a $343 million loss in operating income and a rigid and top-down internal culture. However, Kreiz saw the potential in Mattel’s portfolio of iconic franchises and set out to transform the company into an IP-focused organization.
**The Importance of Mattel’s IP**
During the podcast, Kreiz emphasizes the significance of Mattel’s intellectual property in extending the company’s reach beyond traditional toy manufacturing. He draws inspiration from successful companies like Marvel and Hasbro, which have effectively leveraged their IP to expand into other platforms.
**Restructuring and Turnaround Efforts**
To achieve Mattel’s transformation, Kreiz implemented a comprehensive restructuring program, which included layoffs and a renewed focus on profitability and top-line growth. One notable accomplishment was the reacquisition of the license for the Disney Princess and Frozen doll lines, previously lost to Hasbro in 2016.
**The Future of Mattel and Mattel Films**
While the Barbie movie is the most anticipated project from Mattel Films, Kreiz reveals that there are many more movies in the pipeline. He believes that expanding Mattel’s presence in the entertainment industry will contribute to the company’s financial success.
**Conclusion**
In conclusion, Ynon Kreiz’s interview sheds light on Mattel’s journey towards becoming an IP powerhouse and its foray into the world of film production through Mattel Films. The podcast offers valuable insights into the transformation efforts led by Kreiz and the positive impact they have had on Mattel’s financial performance. With the Barbie movie as the first of many upcoming projects, Mattel’s future in the entertainment industry looks promising.
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