From screen to shelf: Netflix taps Mattel, Hasbro for 'KPop Demon Hunters' toys

(Reuters) -Netflix is teaming up with Mattel and Hasbro to turn its blockbuster animated film  "KPop Demon Hunters" into toys, deepening a consumer-goods push that could help diversify its revenue. Shares of the Mattel rose 3% following the announcement. The partnership, announced on Tuesday, will produce toys, collectibles, games and role-play products based on the film that follows a successful female K-pop trio who play massive concerts while trying to save the world from sinister forces. Since its June debut, the film has topped more than 325 million views, making it Netflix's most-watched original movie. Its soundtrack has received platinum certification and the breakout single "Golden" hit No. 1 on the Billboard Hot 100. The movie has also sparked a steady stream of cosplay and dance challenges across social media platforms. By turning it into toys, Netflix is betting smaller, non-franchise films can scale into lucrative intellectual property. The company is already offering "KPop Demon Hunters" apparel, accessories and collectibles through its online shop. It also offers toys based on other hit franchises, such as "Stranger Things," and has heavily invested in mobile games and immersive experiences stemming from its original content, to boost fan loyalty and diversify its revenue away from subscriptions. Financial details of the deal were not disclosed. Mattel and Hasbro did not immediately respond to requests from Reuters seeking further details. Other media companies including Walt Disney have leaned on toys to turn breakout hits such as "Frozen" into massive franchises that bring a reliable stream of revenue. The companies said on Tuesday that Mattel — the maker of Barbie and Hot Wheels — will develop and market a global line of "KPop Demon Hunters" products starting in 2026, spanning dolls, action figures, accessories, collectibles and playsets. Hasbro's range will include special-feature plush, youth electronics and role-play items, with the first release being a "MONOPOLY Deal: KPop Demon Hunters" edition. The products would be available at retailers from spring 2026 through the holiday season and beyond, the companies said. Netflix and Mattel are scheduled to report results today after the bell. (Reporting by Kritika Lamba in Bengaluru; Editing by Alan Barona)

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