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By Kritika Lamba and Anuja Bharat Mistry (Reuters) -Netflix is teaming up with Mattel and Hasbro to turn its blockbuster animated film  "KPop Demon Hunters" into toys, deepening a consumer-goods push that could help diversify its revenue. The partnership, announced on Tuesday, will produce toys, collectibles, games and role-play products based on the film that follows a successful female K-pop trio who play massive concerts while trying to save the world from sinister forces. The first products from the tie-up will release next year. Since its June debut, "KPop Demon Hunters" has topped more than 325 million views, making it Netflix's most-watched original movie. Its soundtrack has received platinum certification and the breakout single "Golden" hit No. 1 on the Billboard Hot 100. The movie has also sparked a steady stream of cosplay and dance challenges across social media platforms. By turning it into toys, Netflix is betting smaller, non-franchise films can scale into lucrative intellectual property. The company is already offering "KPop Demon Hunters" apparel, accessories and collectibles through its online shop. DIVERSIFICATION PUSH The streamer also offers toys based on other hit franchises, such as "Stranger Things," and has heavily invested in mobile games and immersive experiences stemming from its original content to diversify its revenue away from subscriptions. Other media companies including Walt Disney have leaned on toys to turn breakout hits such as "Frozen" into massive franchises that bring a reliable stream of revenue. Financial details of Tuesday's deal were not disclosed. Mattel declined to share further details, while Hasbro did not immediately respond to a Reuters request. Shares of Mattel closed regular trading 2.5% higher as the deal offers the company another chance to tap into a global entertainment phenomenon, like its success with "Barbie." Mattel will develop and market a global line of "KPop Demon Hunters" products starting in 2026, spanning dolls, action figures, accessories, collectibles and playsets. Its CEO, Ynon Kreiz, called the deal "a win-win for both the companies" in an interview with Reuters. "This is especially exciting given the scale and appeal of this new franchise." Kreiz said Mattel was fast-tracking development of the products due to strong expected demand and would expedite shipping. "We will do everything we can to fulfill the demand," he said. The company also reported third-quarter results on Tuesday, with its sales and profit falling short of estimates due to sluggish demand in North America amid economic uncertainty. Meanwhile, Hasbro's range from the Netflix tie-up will include special-feature plush, youth electronics and role-play items, with the first release being a "MONOPOLY Deal: KPop Demon Hunters" edition. (Reporting by Kritika Lamba in Bengaluru; Editing by Alan Barona)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Kritika Lamba and Anuja Bharat Mistry (Reuters) -Netflix is teaming up with Mattel and Hasbro to turn its blockbuster animated film  "KPop Demon Hunters" into toys, deepening a consumer-goods push that could help diversify its revenue. The partnership, announced on Tuesday, will produce toys, collectibles, games and role-play products based on the film that follows a successful female K-pop trio who play massive concerts while trying to save the world from sinister forces. The first products from the tie-up will release next year. Since its June debut, "KPop Demon Hunters" has topped more than 325 million views, making it Netflix's most-watched original movie. Its soundtrack has received platinum certification and the breakout single "Golden" hit No. 1 on the Billboard Hot 100. The movie has also sparked a steady stream of cosplay and dance challenges across social media platforms. By turning it into toys, Netflix is betting smaller, non-franchise films can scale into lucrative intellectual property. The company is already offering "KPop Demon Hunters" apparel, accessories and collectibles through its online shop. DIVERSIFICATION PUSH The streamer also offers toys based on other hit franchises, such as "Stranger Things," and has heavily invested in mobile games and immersive experiences stemming from its original content to diversify its revenue away from subscriptions. Other media companies including Walt Disney have leaned on toys to turn breakout hits such as "Frozen" into massive franchises that bring a reliable stream of revenue. Financial details of Tuesday's deal were not disclosed. Mattel declined to share further details, while Hasbro did not immediately respond to a Reuters request. Shares of Mattel closed regular trading 2.5% higher as the deal offers the company another chance to tap into a global entertainment phenomenon, like its success with "Barbie." Mattel will develop and market a global line of "KPop Demon Hunters" products starting in 2026, spanning dolls, action figures, accessories, collectibles and playsets. Its CEO, Ynon Kreiz, called the deal "a win-win for both the companies" in an interview with Reuters. "This is especially exciting given the scale and appeal of this new franchise." Kreiz said Mattel was fast-tracking development of the products due to strong expected demand and would expedite shipping. "We will do everything we can to fulfill the demand," he said. The company also reported third-quarter results on Tuesday, with its sales and profit falling short of estimates due to sluggish demand in North America amid economic uncertainty. Meanwhile, Hasbro's range from the Netflix tie-up will include special-feature plush, youth electronics and role-play items, with the first release being a "MONOPOLY Deal: KPop Demon Hunters" edition. (Reporting by Kritika Lamba in Bengaluru; Editing by Alan Barona)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Lisa Richwine LOS ANGELES (Reuters) -Netflix missed Wall Street's third-quarter earnings targets because of an unexpected expense from a dispute with Brazilian tax authorities while it offered a forecast a touch ahead of Wall Street projections for the rest of the year. The report failed to impress investors accustomed to fast-paced growth from the streaming video pioneer. Shares of Netflix, which had risen 39% this year ahead of the earnings report, fell 6.3% to $1,163.80 in after-hours trading on Tuesday.   Netflix posted net income of $2.5 billion and diluted earnings-per-share of $5.87 for July through September, a period when the animated "K-Pop Demon Hunters" became the most-watched movie in Netflix history. Analysts had expected $3.0 billion and $6.97, respectively, according to LSEG. Revenue was even with forecasts, at $11.5 billion. Netflix is seeking growth from new areas such as advertising and video games after attracting more than 300 million customers around the world. It faces competition from YouTube, Amazon's Prime Video, Disney+ and others. The media business is facing major changes including the potential sale of industry titan Warner Bros Discovery and the rise of generative artificial intelligence with the ability to produce short-form video. Netflix reported an operating margin of 28% for the third quarter. Without the Brazilian tax expense of roughly $619 million, the margin would have exceeded the company's guidance of 31.5%, it said, adding that it did not expect the matter to have a material impact on future results. PP Foresight analyst Paolo Pescatore said he believed the tax issue weighed on Netflix shares. "All things considered, this was another robust quarter, despite a blip due to an unforeseen expense," Pescatore said. For the fourth quarter, Netflix forecast revenue of $11.96 billion, compared with Wall Street's projection of $11.90 billion. It projected diluted earnings-per-share a penny ahead of analysts' targets, at $5.45. For the third quarter, Netflix said it recorded its best ad sales quarter in history but did not disclose a number. "This gives the impression that the sustained revenue growth achieved this quarter, and forecasted for next quarter, will predominantly continue to come from subscription fees," eMarketer analyst Ross Benes said. Netflix will release the final season of one of its biggest hits, "Stranger Things," in November and December and stream two live National Football League games on Christmas. "We're finishing the year with good momentum and have an exciting Q4 slate," Netflix said in its quarterly letter to shareholders. Earlier this year, Netflix stopped reporting subscriber numbers and urged investors to focus on revenue and profit. It has expanded into video games and advertising, two areas that have contributed little to revenue so far, according to analysts and investors.  (Reporting by Lisa Richwine; Editing by Richard Chang)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)