Following Barbie, the 'Lego Movie' Also Coming Out

LEGO CEO "Considering Film Production"

Following the movie 'Barbie,' inspired by the Barbie doll made by the American company Mattel, a new film featuring the toy blocks Lego is also set to be produced again.

On the 30th (local time), according to Bloomberg News, Niels Christiansen, CEO of the Danish toy company Lego Group, stated after the Q2 earnings announcement this year, "We must admit that someday we want to retell our story in the form of a movie. We are currently reviewing this (film production)."

Previously, Lego Group achieved box office success with the 2014 film 'The Lego Movie,' which featured Lego as its main theme. Although three sequels were released afterward, they failed to gain significant popularity, and since 2019, no further Lego movies have been produced. However, following the box office success of the movie Barbie, Lego has begun considering the production of a fifth film. Barbie has grossed $1.34 billion (approximately 1.77 trillion KRW) worldwide since its release last month.

CEO Christiansen explained, "It is a good thing to see such great interest in family-oriented films," adding, "We are monitoring the situation while preparing our own Lego projects."

Lego is focusing on both theaters and digital platforms. Although the online video streaming service (OTT) market is rapidly growing, they are also considering producing movie-format content for consumers accustomed to large cinema screens. The success of Barbie has also played a role in this decision.

CEO Christiansen revealed that Lego is hiring a large number of digital experts to integrate Lego toys with electronic content. Currently, Lego employs 1,800 digital specialists, an increase of about 40% compared to the end of last year.

Lego's efforts to combine toy block sales with content creation also aim to diversify revenue streams. In the first half of this year, Lego's sales increased by 1% year-on-year to 27.4 billion kroner (approximately 3.42 trillion KRW), while operating profit decreased by 19% to 6.4 billion kroner (approximately 800 billion KRW). During the COVID-19 period, reduced outdoor activities led to a significant sales increase, resulting in a windfall effect, but the easing of the pandemic caused growth to slow. However, compared to competitors such as Mattel, Hasbro, and Funko, whose sales declined by double digits, Lego's performance is considered to have held up well.