Is Mattel a Threat to Disney?
Nasdaq Walt Disney (NYSE: DIS) is the world's largest entertainment operator. It has 12 theme parks, several billion-dollar franchises, and an unmatched content library. However, it's been struggling recently with streaming profitability and disappointing results at the box office.
At the same time, Mattel (NASDAQ: MAT) is making its way back up from its own long-term struggles. It's primarily a toy company, and in the past didn't compete with Disney; in fact, it has partnerships with Disney to make licensed products based on Disney franchises and characters.
But it's been developing a media strategy that has culminated in the release of the Barbie movie this summer, the top-grossing hit of 2023, and continuing with a pipeline of new media. Most recently, Mattel made an announcement that it's heading in a completely different direction and opening a theme park.
This is moving into major Disney territory. Should Disney feel threatened?
