Mattel's Chairman and CEO, Ynon Kreiz, and CFO, Anthony DiSilvestro, participated in a fireside chat at the Morgan Stanley Global Consumer & Retail Conference on December 4, 2024. Kreiz reiterated Mattel's transformation from a toy manufacturer to an IP company managing global franchises.
Kreiz highlighted the toy industry's resilience, noting it has grown in 23 of the last 25 years and is expected to return to growth after a modest decline in 2024. He emphasized the importance of 'toyetic' theatrical releases, citing Mattel's involvement with 'Moana 2' and 'Wicked' toys, and upcoming movies like 'Minecraft' and 'Jurassic World Rebirth' in 2025.
DiSilvestro discussed Mattel's strong gross margin performance, guiding to an adjusted gross margin of 50% for 2024, an increase of 250 basis points. He also noted the success of Mattel163, a joint venture with NetEase, which is projected to generate over $200 million in revenue this year from just three games, showcasing the potential of Mattel's brands outside the toy aisle.
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