Mattel (MAT) has been a fixture of American childhoods since Co-Founders Harold Matson and Elliot Handler merged their names together and started the toy company in 1945 (Ruth Handler was also a co-founder, but she doesn’t get to be part of the company’s name.)
From Barbie dolls to He-Man and Skeletor, Hot Wheels, Fisher-Price and American Girl, Mattel has kept countless children entertained and prompted untold numbers of trips to the toy store.
In an entertainment age increasingly dominated by recognizable intellectual properties (such as Disney’s (DIS) Marvel and Star Wars offerings), every entertainment company is trying to figure out how best to exploit its assets. Disney has done this to historic effect. Mattel is now joining this effort in a major way.
Next year will see the release of “Ladybird” writer-director Greta Gerwig’s film “Barbie,” which has a strong cast and creative pedigree.
(Suffice to say it’s difficult to turn recognizable properties that don’t have a backstory or narrative appeal -- like a comic book or a cartoon -- into watchable films. You hope for a classic film like “Clue,” but you’ll more likely end up with a flop like “Battleship.”)
Next year is looking like a big one for Mattel (MAT), which may be getting a jump start on its upcoming 80th anniversary.
In addition to the “Barbie” film, the company will open its Mattel Adventure Park, which is currently under construction.
The park will be located just south of the National Football League stadium in Glendale, Ariz., and will be part of the new VAI Resort complex.
Now due to open in spring 2023, the Mattel park was originally set for this year, but hit some delays.
We’ve all been delayed, right? But Mattel is trying its best to ensure that the wait is worthwhile, and it’s announced a few new attractions that fans of the brand can look forward to.
What Is Coming to the Mattel Adventure Park?
Mattel has offered some details on what to expect next year at the Mattel Adventure Park.
The company has previously announced a go-kart track, indoor play area, and Hot Wheels roller coaster. But the following attractions are also set:
- A laser tag arena set in the Master of the Universe's Castle Grayskull.
- A nine-hole miniature golf course decorated with regalia from the Mattel portfolio, including Rock ‘Em Sock ‘Em Robots, Pictionary, and UNO. Can you say “UNO!” instead of “fore?” I mean, if you want to.
- The big draw will be the Barbie Beach House, which will include multiple attractions, including a Barbie flying theater ride, a Dream Closet Experience featuring Barbie in "hologram" form, and the Barbie Rooftop, which will serve signature pink beverages and snacks.
"We are extremely excited to add Barbie, Masters of the Universe and Mattel Games themed attractions and rides to an already outstanding offering in development at the first-ever Mattel Adventure Park," Mark Cornell, president of Epic Resort Destinations, told Theme Park Insider.
"We have spared no expense to bring these iconic brands to life in ways that will delight visitors of all ages for years to come."
"Mattel Adventure Park will be even more engaging and entertaining at launch with the addition of these iconic Mattel brand experiences," added Mattel's senior director of global location-based entertainment, Julie Freeland.
"The expansion of this flagship attraction brings together the largest representation of Mattel’s beloved brands in a live space as never before."
Mattel Introduces Transgender Barbie
In other Mattel news, the company recently introduced a Barbie in the likeness of the actress, educator and LGBTQ+ activist Laverne Cox. This is the company’s first transgender Barbie, and Cox was reportedly "very involved" in every step of the design process, according to People.
"I can't believe it. I love her outfit," Cox told People. "What excites me most about her being out in the world is that trans young people can see her and maybe get to purchase her and play with her, and know that there's a Barbie made by Mattel, for the first time, in the likeness of a trans person."
Monica Schipper/Getty Images for Laverne Cox
Mattel seems to be having a bit of a cultural moment. Its iconic Magic 8 ball was included in a scene in the new season of “Stranger Things,” and the company’s Twitter account was apparently in the mood to show off.
