Towards the end of the last year, it was announced that Playmates Toys would lose the Teenage Mutant Ninja Turtles license at the end of 2026. The news came as a major shock for many, most especially fans, as the Hong Kong-based toy company has held the TMNT license since 1988. With Toy Fair this weekend, some speculated that there might be news regarding who would acquire the coveted toy license. Sure enough, today Paramount announced a multi-year global licensing partnership with Mattel.
After over four decades, Playmates losing the TMNT license truly is an end of an era. Considering the prominent role the company had in making the Heroes in a Half Shell a worldwide phenomenon, Playmates was practically seen as being joined at the hip with TMNT. Naturally, many point to the recent Paramount Skydance merger as the cause with the licensing fees under the new regime simply becoming too high for Playmates.
Mattel acquiring the TMNT license comes on the heels of last year when it announced it had regained the DC Comics toy license.
Official press release below:
Paramount, a Skydance Corporation (Nasdaq: PSKY), a leading next generation global media and entertainment company, and Mattel, Inc. (Nasdaq: MAT), a leading global play and family entertainment company and owner of one of the most iconic brand portfolios in the world, today announced a global, multi-year licensing agreement to develop and market a wide range of products for the iconic Teenage Mutant Ninja Turtles brand.
Beginning in 2027, action figures, playsets and accessories, vehicles, games, collectibles, role play and more are set to roll out across retailers. Through the agreement, Mattel will also produce new product lines for the animated movie sequel Teenage Mutant Ninja Turtles: Mutant Mayhem 2 for 2027, and a new untitled Teenage Mutant Ninja Turtles live-action/CG animation hybrid in 2028.
Roberto Stanichi, EVP and Chief Global Brand Officer, Mattel said: “Teenage Mutant Ninja Turtles is one of the most successful entertainment franchises in history, and partnering with Paramount on this iconic property marks a significant moment for Mattel and the brand. The enduring power of the Turtles lies in their ability to evolve with each generation, and we are excited to bring these characters to life in new ways.”
Josh Silverman, President, Global Products & Experiences, Paramount said: “Teenage Mutant Ninja Turtles’ rich history and timeless legacy have created a powerful connection with audiences around the world. Extending the world of Teenage Mutant Ninja Turtles through so many different touchpoints is something we deeply value as we continue expanding the ways people can interact with and celebrate the world of these beloved brothers. We are pleased to embark on this next chapter with Mattel, whose ability to innovate on a global scale positions us to further grow the brand and engage fans across generations.”
Since its creation in 1984 by Kevin Eastman and Peter Laird, Teenage Mutant Ninja Turtles has grown into a global phenomenon, spanning comic books, hit television series, blockbuster films, live experiences, digital games, publishing and a powerhouse consumer products line. Today, Teenage Mutant Ninja Turtles continues to dominate screens and shelves worldwide, generating billions in retail sales and inspiring generations of fans.
This new licensing agreement builds upon the established relationship between Mattel and Paramount Products & Experiences, which spans brands and franchises in Paramount’s vast library.
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