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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.