Mattel Renews Licensing Partnership For WWE Action Figures, Toys; Shares Rise

Mattel, Inc. (MAT) shares rose 1.3% on Monday after the toy maker announced an extension of its licensing partnership with WWE. However, shares gave up gains in after-hours trading.

Mattel and WWE, now part of TKO Group (TKO), have renewed their tie-up for an undisclosed number of years. This allows Mattel to continue creating and selling WWE toys and merchandise.

The two first came together in 2010, and Mattel has since sold the popular WWE action figures and toys in over 50 markets worldwide.

Mattel's WWE collection is available at its online store and select retail stores globally.

The move is part of WWE's broader expansion strategy, which also includes a recent partnership with Netflix (NFLX).

In early 2024, Netflix bought the broadcasting rights to the Raw tournament and other WWE programming for 10 years for $5 billion. The first livestream started in January this year.

On Stocktwits, retail sentiment was in the 'bullish' territory, and the message volume was low, unchalged from the previous day.

One user noted abnormally high options activity in the stock recently.

Mattel sales declined 1.1% in 2024, but profitability improved thanks to higher sales of Barbie dolls after the hit movie and cost-cutting measures.  

MAT shares are down 14% year to date.

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