Spin Master has inked a three-year global licensing agreement with Warner Bros. Consumer Products (WBCP) for the toy rights to iconic DC superhero brands like Superman, Batman and Wonder Woman. The deal kicks off in spring 2020 and covers several categories that used to be licensed to Mattel, including boys action, remote control and robotic vehicles, water toys and games and puzzles.
Mattel will continue to make and market DC products in other categories, and currently serves as master toy partner for the DC Super Hero Girls brand.
This news comes on the heels of Mattel reporting a mixed bag of financial results for Q3 2018, with operating income increasing 41% to US$122 million (the toyco’s first year-over-year growth in eight quarters) and net sales dropping 8% to US$1.44 billion. After worldwide net sales fell 14% to US$840.7 million in Q2, Mattel announced it would cut more than 2,200 jobs, representing 22% of its global non-manufacturing workforce.