Cars 2 Drives Mattel Profits Up
It's not only the kids who enjoyed the Pixar magic of Cars 2. Even toy maker Mattel had their profits driven up because of the animated movie.
Cars 2 grossed over US$550 million worldwide. US$109 million on its opening weekend alone. The movie was produced by Pixar and distributed by Disney.
Mattel's profits rose in its third quarter after the movie opened up a demand for its toys featured in the movie. The toy firm's net income totalled $301m for the 3rd quarter, up 15% on the previous year. Their global sales rose by 9%.
Chairman and chief executive, Robert A. Eckert says,"This year's big entertainment property, Cars 2, is... fuelling momentum,"
Mattel released toys and playsets featuring characters from the animated film. All under the company's Hot Wheels line.
Even Barbie doll sales rose 17% for the year. Barbie and Ken were featured in a short film accompanying Cars 2, Hawaiian Vacation. They were also featured in Pixar's Toy Story movie franchise.
With the heavy shopping season coming up, sales of Cars 2 related merchandise will surely drive sales up even further. Not to mention that the movie will be released by Disney on video November 01.
It seems even after the movie has shown, Cars 2 may still be in the drivers seat come Christmas.