Netflix (NFLX) is expanding into the toy market, having struck new partnerships with both Hasbro (HAS)
and Mattel (MAT).
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The deal will see Netflix license characters from “KPop Demon Hunters” to Hasbro and Mattel so that they can create a line of toys based on the popular animated film. Released on Netflix in June, KPop Demon Hunters has become Netflix’s most popular film of all time, with more than 325 million streams worldwide.
The popularity of the animated movie has led Netflix to release it twice in theaters — once in August for a two-day weekend and again timed to Halloween at the end of October. Now, Netflix is teaming up with Mattel and Hasbro to create toys based on the film, generating a new revenue source for the streaming giant.
Division of Labor
Under terms of the deal, Mattel will create dolls, action figures, accessories, and playsets based on KPop Demon Hunters, while Hasbro will focus on plush figures or stuffed animals, electronics, role-playing and board games.
Mattel is currently taking pre-orders for a three-pack of dolls featuring Rumi, Mira and Zoey, the members of the fictional KPop trio HUNTR/X. Hasbro has said that its first product will be a KPop Demon Hunters-themed Monopoly board game. The toys from both companies are expected to be on store shelves in spring 2026.
Netflix is scheduled to report its latest financial results after markets close on Oct. 21.
Is NFLX Stock a Buy?
The stock of Netflix has a consensus Moderate Buy rating among 24 Wall Street analysts. That rating is based on 17 Buy, six Hold, and one Sell recommendations issued in the last three months. The average NFLX price target of $1,383.76 implies 11.34% upside from current levels.
