Mattel shifts focus to entertainment following the success of the "Barbie" movie, appointing Michelle Mendelovitz as head of Mattel Television Studios. The move reflects Mattel's strategy to leverage intellectual property (IP) and create diverse consumer touchpoints, driving brand awareness. Mattel Television Studios has premiered 12 series this year based on toy brands like Barbie and Hot Wheels. The success of the "Barbie" movie, the highest-grossing film of 2023, underscores the effectiveness of Mattel's strategy. Mattel CEO Ynon Kreiz emphasizes the cultural relevance of their brands, with multiple IP-driven films in production, including "Polly Pocket" and "Barney." Kreiz envisions extending brands across various platforms, including film, television, attractions, live events, and digital experiences. This multi-year strategy, initiated by Kreiz in 2018, aims to make Mattel's toys more appealing amid changing consumer preferences. Despite the industry risk, Mattel's financial results show a 9% rise in net sales last quarter, driven by strong performance in dolls and toy vehicles. Mattel's stock has climbed about 10% on the year and soared more than 40% since Kreiz's leadership. The company's success mirrors a similar approach taken by competitor Hasbro, known for successful ventures like "Transformers" films and "My Little Pony" TV shows.