Barbiecore may be your next class in marketing
Barbiecore may be your next class in marketing
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00:00 Wherever you are in the world right now, chances are that, like Trafalgar Square in London this month,
00:04 there's a corner of it near you that's pink.
00:07 And that's likely thanks to a pop culture sensation from toy maker Mattel
00:12 that's been 64 years in the making.
00:14 Hey Barbie.
00:17 Not content with setting box office records for this year,
00:21 Barbie is also rewriting the playbook for how to market a film.
00:26 Stop by.
00:27 So cool.
00:28 From a life-sized dream house to a hot pink cafe, the brand has been everywhere in 2023.
00:36 It's led to talk of something Mattel have called Barbiecore, a world awash with pink.
00:41 Mattel president and CEO Richard Dixon.
00:43 Our colour is obviously synonymous with a big movement right now,
00:49 and there's not a category out there that we haven't
00:52 carefully curated as an opportunity for everyone to play with Barbie.
00:57 Analysts have been rushing to praise Mattel's strategy around the film's release
01:01 and its success at redefining themselves as more than just a toy brand.
01:06 Brand strategist Moshe Isaikian.
01:08 I think what they've done here is try to make Barbie culturally relevant again,
01:12 bring it to life, make it a piece that is just not about nostalgia, not about toys,
01:18 but really a universe that you can really feel, touch and feel a part of, right?
01:24 Isaikian compiled all the Barbie brand collaborations, tie-ins and licensing
01:29 deals he noticed leading up to the film's launch into a viral Twitter thread.
01:33 Among the sparkly hot pink merchandise he listed,
01:36 a gaming console, dog treats, shoes, homeware, frozen yoghurt, hair accessories and roller skates.
01:41 But while Barbie the toy has traditionally been aimed at young girls,
01:46 the film and much of its marketing strategy has instead targeted adults.
01:50 Mattel CEO Enon Kreitz said this has been key.
01:54 It's timeless and timely at the same time.
01:56 So it is about a story that covers transcendent generations
02:01 and appeals to audiences all over the world.
02:04 I think Mattel is starting to be a little bit more free with themselves,
02:09 letting themselves go, kind of realizing that nowadays the humor has changed,
02:15 people are a little bit more critical of how brands act.
02:19 And they've done actually a good job with it in the movie too.
02:23 (CHEERING)
02:24 Reports have put the Barbie marketing budget at $150 million.
02:28 That's more than the $145 million it cost to make the film.
02:33 The opening weekend at the US box office already generated $162 million in ticket sales.
02:38 But Mattel are also expected to see soaring sales for Barbie dolls and other related products.
02:44 Some have said such a comprehensive marketing campaign hasn't been seen in decades
02:49 and could impact how marketing is taught in the future.
02:53 The strategy was here was this is Barbie's world and we're living in it
02:57 and they've done a really good job at this.
02:59 And that's what just marketing is all about.
03:02 It's just bringing stuff to life and making people aware of it.
03:05 Ideas live forever.