Mattel Stock Soars After Regaining License to Make ‘Frozen,’ Disney Princess Toys
Stock in Mattel has risen sharply after the toymaker said it had regained the global license for toys based on Walt Disney’s Princess lineup.
“We are incredibly proud to welcome back the Disney Princess and Frozen lines to Mattel,” Mattel president and COO Richard Dickson, said in a statement on Wednesday. The Disney Princess toy line significantly drove revenues at Mattel until 2016 when it lost the global rights to rival Hasbro.
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Mattel said a collection of Disney Princess toy lines will arrive at retailers worldwide in 2023 as it develop toys for Disney Consumer Products, Games and Publishing, including fashion dolls, small dolls and figures. The new agreement will see Mattel develop dolls based on popular properties like Aladdin, Beauty and the Beast, Brave, Cinderella, The Little Mermaid, Mulan, Pocahontas, The Princess and the Frog, Sleeping Beauty and Disney Frozen.
The new licensing deal expands on existing licensing relationship between Mattel and Disney for Pixar Animation Studio’s Toy Story and Cars franchises, and the recently announced global licensing agreement for Lightyear.
“By furthering our longstanding relationship with Mattel, we look forward to expanding the worlds of Disney Princess and Frozen, introducing an innovative new era of these beloved franchises through captivating products and play opportunities,” Stephanie Young, president of Disney Consumer Products, Games and Publishing, said in another statement.
Stock in Mattel jumped by $1.75, or 9 percent, to $21.36 during mid-morning trading on the NASDAQ Exchange.
Yet rival Hasbro had its own good news on Wednesday, as it announced it had expanded its relationship with Lucasfilm by renewing its licensing deal for the Star Wars franchise, while unveiling a new agreement to develop products based on the Indiana Jones franchise, including toy figures.
Hasbro will continue creating toys and games based on the Star Wars franchise and toy lines based on the Indiana Jones franchise will become available worldwide in 2023, timed with the theatrical release of a new Indiana Jones feature film.
