Mattel Wins 'Jurassic World' Toy License Ahead of New Movie
July 19 2016 - 10:50AM
Dow Jones News
Toy maker Mattel Inc. said Tuesday it won the license for toys
based off the "Jurassic World" film franchise, with initial
products hitting stores in time for a new film in 2018.
The move comes a day after Hasbro reported a sharp slowdown in
sales for its boys toys, hurt by a drop in Jurassic World sales.
Hasbro Chief Executive Brian Goldner said the company would lose
the license in 2017 because it couldn't agree with its owner,
Comcast Corp.'s NBCUniversal, on renewal terms.
Mattel's license rights, which will begin next year, include
products such as action figures, vehicles, games and other activity
toys. The company said it would start to work with Universal to
design and develop new product lines immediately.
"Jurassic World," the third follow up to the 1993 blockbuster
"Jurassic Park," was released last summer and went on to gross more
than $1.6 billion world-wide, according to Box Office Mojo.
Universal has announced a new "Jurassic World" film will be
released in 2018 with executive producer Steven Spielberg, who
directed the original film. "Jurassic World" stars Chris Pratt and
Bryce Dallas Howard will return for the sequel.
Mattel is set to report results Wednesday for its latest
quarter. The company has struggled recently, though it has taken
steps to bolster its operations. In April, Mattel reported its loss
widened as Barbie sales fell and it was unable to make up for the
loss of a key Walt Disney Co. license to Hasbro.
Hasbro's overall sales rose 10% in its latest period, led by a
trio of toy brands licensed from Disney: Star Wars, Frozen and
Disney princesses. But sales in its boys division rose just 4% in
the period after posting a 24% gain in the first quarter.
In recent trading, Mattel stock fell 0.25% to $32.50 while
Hasbro edged up 0.79% to $80.45.
Write to Joshua Jamerson at joshua.jamerson@wsj.com
(END) Dow Jones Newswires
July 19, 2016 10:35 ET (14:35 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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