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)
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