Greta Gerwig’s Barbie film continues to smash box office records around the globe and has now taken another that was previously held by Marvel’s The Avengers.
As per Variety, by the end of this weekend, the film will have grossed over $623million (£502million) at the domestic box office in the US, meaning it will have surpassed Marvel’s The Avengers.
As noted on Screen Rant, this then makes Barbie the 11th highest grossing movie of all time in North America.
Other achievements of the film include a global box office earning of more than $1billion (£807million).
Mattel meanwhile expects Barbie to contribute over $125million (£100million) in gross billings to the company this year.
Anthony DiSilvestro, chief financial officer at Mattel, shared the number during the Goldman Sachs media conference earlier this month (September 7). The figure includes direct movie participation and sales of toys and consumer products.
“Our economics are a function of the revenue, as well as profit participation, which scales up with the success of the movie,” DiSilvestro said (via Deadline).
According to The New York Times, Mattel earned five per cent of the film’s box office revenue, as well as a portion of the overall profits as a producer on the movie, and additional payments as owner of the Barbie IP.
As a result of the film’s success, Mattel is planning a slew of movie projects based on the company’s IP, including Polly Pocket by Lena Dunham, a Hot Wheels film from J.J. Abrams, and Barney starring Daniel Kaluuya.
“What you saw around the Barbie movie was, we believe, a template, a case study, an opportunity to truly understand the value and appeal that our brands have, the cultural resonance, and, importantly, our ability to execute these projects both creatively and commercially,” Mattel CEO, Ynon Kreiz, said. “We hope and expect to have more. I’m not saying it will be as big or as successful as Barbie, but it will be the same approach.”
Mattel expects continued profits from Barbie into 2024 and beyond. The film is set to hit streaming services on Tuesday (September 12).
Meanwhile, star of Barbie, Margot Robbie, attended the picket line of striking actors in LA this week.
