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Mattel and Hasbro Miss Holiday Window for “KPop Demon Hunters” Toys Despite Huge Netflix Success

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Fans eager to buy “KPop Demon Hunters” toys this holiday season will have to wait until next year, as Mattel (MAT.O) and Hasbro (HAS.O) will not ship most licensed products until January, missing the crucial shopping period. The two toymakers recently struck licensing deals with Netflix (NFLX.O) to produce dolls, games, and collectibles based on the hit animated film, which has become the streamer’s most-watched movie ever.

According to sources cited by Reuters, the companies underestimated the film’s crossover appeal among K-pop, anime, and casual audiences before its June release, delaying their licensing commitments. Typically, toymakers plan 12–18 months in advance to design, manufacture, and distribute merchandise before the holiday season, which generates roughly one-third of annual sales.

Netflix said the toys — including Mattel’s three-doll set and Hasbro’s Monopoly card game — will be available for pre-order soon but won’t arrive until early 2025. Funko (FNKO.O) will also release collectible figurines inspired by the movie’s characters, shipping by January 30, according to its website.

Mattel CEO Ynon Kreiz told Reuters the company is “fast-tracking development given the strong demand,” while Hasbro’s Tim Kilpin said such breakout hits are rare and exciting, noting that “new properties like this can surprise the market.”

Released in June, “KPop Demon Hunters” quickly became a global phenomenon, with its soundtrack single “Golden” topping Billboard’s Hot 100 and a theatrical sing-along release selling out in over 1,300 cinemas. The film’s success highlights Netflix’s growing push into merchandise licensing, a strategy long dominated by Disney and Warner Bros Discovery.

Industry experts said the missed opportunity stings at a time when toy companies face rising tariffs, high production costs, and competition from digital entertainment. Still, the hype surrounding “KPop Demon Hunters” could extend well into 2025 — potentially turning next year’s release of toys and collectibles into one of the industry’s biggest events.

Mattel Partners with OpenAI to Launch First AI-Powered Toy This Year

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Mattel, the maker of Barbie, Hot Wheels, and Uno, announced on Thursday a partnership with OpenAI to develop toys and games powered by artificial intelligence. The company aims to launch its first AI-enhanced product before the end of 2025.

The collaboration seeks to “bring the magic of AI to age-appropriate play experiences,” focusing on innovation while maintaining strong privacy and safety standards. In addition to consumer products, Mattel plans to integrate OpenAI’s advanced AI tools, including ChatGPT Enterprise, into its business operations to boost creativity, productivity, and transformation across the company.

OpenAI’s Chief Operating Officer Brad Lightcap emphasized that the partnership provides Mattel with access to sophisticated AI capabilities to help drive product innovation and company-wide efficiency.

The move comes amid a period of muted demand for toys, as consumers tighten spending due to economic uncertainties linked to shifting U.S. trade policies. To counter a slowdown in its traditional toy business, Mattel has increasingly relied on films, TV shows, and mobile games based on its iconic brands.

In response to rising supply chain costs, Mattel recently withdrew its annual financial forecast and announced plans to raise prices on select products sold within the U.S.

S&P 500 Rises 1% on Christmas Eve, Tech Stocks Drive Gains: Live Updates

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The U.S. stock market saw a strong performance on Christmas Eve, with the S&P 500 gaining 1.1% to close at 6,040.04. The Dow Jones Industrial Average also rose by 0.91%, adding 390.08 points to reach 43,297.03, while the Nasdaq Composite climbed 1.35% to finish at 20,031.13. A significant contributor to the Nasdaq’s rise was a 7.4% increase in Tesla’s stock price, alongside gains in Amazon and Meta Platforms, which each rose over 1%.

The New York Stock Exchange closed early at 1 p.m. ET, and the bond market followed suit, closing at 2 p.m. The market will remain closed on Wednesday for Christmas Day.

Tuesday’s gains marked the beginning of the “Santa Claus rally,” a seasonal trend in which the market tends to see stronger performance during the last five trading days of the year and the first two days of January. Historical data from LPL Research shows that since 1950, the S&P 500 has averaged a 1.3% return during this period, far outpacing the typical seven-day return of 0.3%.

Despite the upbeat performance, experts advise caution. Paul Hickey, co-founder of Bespoke Investment Group, mentioned on CNBC’s “Squawk Box” that while the market shows positive momentum, it’s important to temper enthusiasm, as the market has already rallied significantly.

Over the past two days, the S&P 500 has gained 1.8% for the week, with the Dow up about 1%. The Nasdaq has surged 2.3% week-to-date, fueled by strong gains in megacap tech stocks. Additionally, the S&P 500 has turned positive for the month, rising by 0.1%. The tech-heavy Nasdaq has seen an impressive 4.2% increase in December, with major players like Google’s parent Alphabet up 16%, Apple up nearly 9%, and Tesla soaring by about 34%. However, the blue-chip Dow remains down by around 3.6% for the month, on track for its worst monthly performance since April.

On the corporate front, American Airlines experienced fluctuations in its stock price on Tuesday after the airline temporarily grounded all flights in the U.S. due to a technical issue during one of the busiest travel days of the year. Despite the disruption, the stock ended the session up 0.6%.

In other retail news, analysts at Jefferies expressed optimism about toy sales this holiday season. Their store checks indicated high traffic and lower inventory levels compared to earlier in the season. Board games, in particular, were reported as strong sellers both in-store and online. Jefferies also noted that discounts were lower than the peak Black Friday levels.

In the toy sector, Mattel and Hasbro stocks showed mixed results. While Mattel’s shares are down over 5% year-to-date, Hasbro has seen a more significant gain of 11%. However, Hasbro has faced recent declines, with its stock down nearly 13% month-to-date, while Mattel’s shares have fallen 6%.