Following the Barbie movie/s unexpected cinematic success, Lionsgate purchased nearly 6,500 titles from Hasbro for potential film development as the craze for toy-based properties for films continues. This deal leaves out some of Hollywood’s prominent properties which are already in development for films, such as Monopoly and Transformers.
Monopoly is already slated for its big-screen debut as it’s confirmed it’s in development, with several big names being rumored to be a part of the project from Kevin Hart to Ridley Scott.
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Questions arise regarding the industry’s takeaway from Barbie’s triumph, as the film industry has been known for hopping on a trend and overdoing their movies, as evidenced by the most recent failures in Marvel and DC Comics with their films. It appears Lionsgate is attempting to follow the trends.
Barbie’s success has been remarkable, consistently breaking records since its July 21 release. Not only did it secure the biggest opening weekend of the year, but it also became Warner Bros.’ highest-grossing domestic release, surpassing The Dark Knight. Barbie’s current domestic earnings stand at $575.4 million, with a global gross exceeding $1.3 billion.
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Greta Gerwig turned Barbie into a cultural phenomenon, prompting reflection on Hollywood’s tendency to misinterpret successes. After The Dark Knight, Hollywood fixated on gritty narratives, and Avatar’s 3D revolution birthed a trend of unnecessary three-dimensional spectacles. Now, with Barbie’s triumph, the industry appears poised for a toy movie trend, exemplified by Hasbro’s new entertainment division and a recent sale to Lionsgate.
While the Monopoly movie emerges as a crucial test for the industry, it’s unclear how many toy-based films will be able to cut through the market. Lionsgate is taking a gamble on these Hasbro properties.
Meanwhile, Mattel is already venturing further into mining their I.P.s. They’re going to be exploring uncharted territory with a Barney movie, a Lena Dunham-directed Polly Pocket, and a Magic 8 Ball horror flick. While these already feel like an overexposure of toy brands, Monopoly’s strategic gameplay centered on property acquisition poses a unique challenge in translating it into a compelling narrative.
Hasbro’s recent press release on the Lionsgate purchase stated, “The sale will include a talented team of employees, a content library of nearly 6,500 titles, active productions for non-Hasbro owned IP like The Rookie, Yellowjackets and Naked and Afraid franchises, and the eOne unscripted business, which will include rights for certain Hasbro-based shows like Play-Doh Squished.”
Hasbro CEO Chris Cook also commented on Lionsgate’s acquisition, “This sale fully aligns with our strategy, and we are pleased to bring the process to a successful close. Lionsgate’s management team is experienced in entertainment and adept at driving value, and we’re glad to have found such a good home for our eOne film & TV business. We look forward to partnering with them, especially on a movie adaptation of Monopoly. Entertainment remains a priority for Hasbro. Hasbro will continue to develop and produce entertainment based on the rich vault of Hasbro-owned brands. We will also bring to life new original ideas designed to fuel all areas of Hasbro’s blueprint including toys, publishing, gaming, licensed consumer products, and location-based entertainment. As part of the sale, we expect to move to an asset-lite model for future live action entertainment, relying on licensing and partnerships with select co-productions.”
Barbie’s triumph emphasizes a crucial lesson: it’s not just about turning toys into movies but crafting experiences that captivate audiences. Hollywood is urged to balance commercial aspirations with creative integrity as it navigates the challenge of replicating Barbie’s success with other toy-based movies, including the upcoming Monopoly venture.
What do you think of this Lionsgate acquisition and the Monopoly movie coming off the heels of Barbie? Leave a comment and let us know.
Desperation.
Lions gate is desperate to build a Cinematic universe.
Agreed 👍
Cool thanks
Hype