Everyone’s talking about the ‘Barbie’ movie – but the doll’s sales are actually falling

• Sales of Barbie dolls and related merchandise fell in the first half of 2023, Mattel execs say.
• This is despite the doll being catapulted back into the spotlight in Greta Gerwig’s “Barbie” movie.
• But execs say July sales so far are higher than last year and the impact of the movie will last for years.

Greta Gerwig’s “Barbie” movie may be smashing the box office, but the doll’s sales are actually still falling for parent company Mattel.

In the first six months of 2023, the Barbie brand made $459.6 million in global gross billings, a 23% decline from the same period in 2022. Gross billings represent amounts invoiced to customers and don’t include the impact of sales adjustments, such as trade discounts.

But in the run-up to the movie’s release, sales haven’t been quite as bad for Barbie, with $282.7 million in gross billings in the three months to June 30, just a 7% decline from the same period the prior year.

Mattel said that despite gross billings for Barbie falling, sales for its Disney Princess, Disney Frozen, and Monster High franchises helped boost its dolls category overall.

CFO Anthony DiSilvestro said at the company’s earnings call on Wednesday that Barbie’s POS, which is the sales actually made by retailers, was down in the “low-double digits” in the second quarter compared to the previous year, but that so far in July it had turned positive. DiSilvestro said this was down to promotions being shifted to the second half of the year to better align with the movie’s release.

Mattel execs spoke about how the movie had ultimately catapulted the doll into the spotlight, given the company the chance to collaborate with other brands, and created a “halo effect” for Barbie, with the impact on sales expected to last for years.

CEO Ynon Kreiz said that Barbie’s range of movie-related toys and products had sold out “very fast” and that more items would continue to be released. Mattel said that as well as releasing a soundtrack, it had entered into more than 165 consumer product partnerships tied to the movie, with thousands of displays in stores globally.

“The success of the Barbie movie is a milestone moment for Mattel and it really is a showcase for the cultural resonance of the brand,” COO Richard Dickson said. “As we’ve seen, the success is far beyond the film.”

“We all see the world is playing with Barbie, whether it’s our toys, fashion, accessories, or content,” he continued. “There’s no doubt that the brand has reached a new level of cultural relevance.”

Less than a week from its global release, “Barbie” has already smashed a number of box-office records. It had the largest opening weekend at the domestic box office so far this year, bringing in $162 million, as well as a further $194 million internationally. It was also the largest opening weekend ever for a female director.