Mattel Inc. stock shares took a dive on December 24 when DC Comics announced a new deal with Spin Master Corp. for boys’ action toys and more categories beginning in 2020.
Bloomberg reported Mattel Inc. extended its longest streak of daily declines since 2015, after Goldman Sachs analysts cut estimates after the Spin Master Corp. / Warner Bros. deal was announced on December 21. Spin Masters Corp. announced a three-year global licensing agreement with Warner Bros. Consumer Products that includes the DC Comics’ boys’ action category, remote control and robotic vehicles, water toys, and games and puzzles. The deal begins in Spring 2020.
Goldman Sachs analyst Michael Ng did note that Mattel will retain some DC licensing rights, including preschool and girls’ toys, which includes the popular DC Super Hero Girls franchise (see "Preview: Toy Fair 2017 DC Products"). Ng said Mattel is expected to "aggressively pursue" new licenses, since rival Hasbro Inc.’s current licenses for Marvel and Star Wars toys both end in 2020.
"Partnering with an iconic brand like DC is a major milestone for Spin Master and is part of our strategy to invest in successful licenses to further grow and diversify our business," said Ben Gadbois, Spin Master's Global President and COO. "We are looking forward to bringing Spin Master's renowned innovation to the toy line and to sharing more details about this exciting partnership in the new year."
Spin Master is a global children’s entertainment company known for brands including Bakugan, Erector by Meccano, Hatchimals, PAW Patrol, and the soon to launch line of Monster Jam trucks. It also creates Marvel games (see "'Five Minute Marvel,' 'Hail Hydra,' Dirty Dough'") and have released several games that have been nominated for Origins Awards (see "Origins Awards Nominations").
Mattel Shares Take A Christmas Dive
Posted by Nicole Bunge on December 26, 2018 @ 9:11 pm CT
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