Mattel is making a major comeback in the world of superhero collectibles, reclaiming the rights to produce action figures and toys based on DC characters such as Batman, Superman, Wonder Woman, Green Lantern and more. This highly anticipated deal will go into effect in the second half of 2026, marking Mattel’s return to one of the most lucrative superhero toy markets in the world.

After losing the global licensing rights to DC-related action figures six years ago to competitors Spin Master and McFarlane Toys, Mattel was only able to produce DC-themed toys aimed at girls and preschoolers. Now, the toy giant has struck a multiyear licensing agreement with Warner Bros. Discovery, allowing them to develop and market a full range of DC collectibles, including:

✔ Action figures

✔ Playsets

✔ Accessories

✔ Role-play products

 

“This is a huge deal. You’re dealing with some of the greatest superheroes and some of the best action figure potential in the industry, and we’re incredibly excited by that,” said PJ Lewis, Mattel’s Senior VP and Global Head of Action Figures and Fisher-Price Entertainment.

 

While financial terms of the deal remain undisclosed, the agreement solidifies Mattel’s ability to create toys and collectibles spanning the entire DC universe, including fan-favorite villains The Joker and Harley Quinn.

 

The global toy market has seen a rise in adult collectors, making licensed action figures and collectibles more valuable than ever. In 2024, Mattel reported $5.4 billion in net sales, a 1% decline from the previous year, but net income jumped to $542 million—more than double the $214 million reported in 2023. Mattel’s stock price has also surged over 9% in the past year, signaling strong investor confidence.

Nick Karamanos, Mattel’s SVP of Entertainment Partnerships, emphasized the significance of this agreement:

“This renewed partnership will reflect our shared passion for engaging and inspiring fans and collectors of all ages.”

 

Mattel is also competing against Hasbro, which currently produces Marvel superhero action figures. The return of Mattel’s DC lineup could ignite a toy industry showdown, pitting DC vs. Marvel in both retail and collector markets.

This DC-Mattel partnership comes at a perfect time, as DC Studios is actively expanding its cinematic universe under James Gunn and Peter Safran. Upcoming DCU films—such as Superman (2025), Supergirl: Woman of Tomorrow (2026), Clayface, and The Batman Part II (2027)—are expected to boost toy sales by driving demand for new superhero figures and playsets.

 

Robert Oberschelp, Head of Warner Bros. Discovery Global Consumer Products, highlighted the competitive nature of the licensing battle:

“The DC brand is one of our crown jewels. What Mattel really brought was a very clear understanding of our brand, and their global reach was an important factor.”

 

Mattel has a longstanding relationship with Warner Bros. Discovery, having produced toys for major franchises such as:

 

• Harry Potter
• Friends
• Seinfeld
• Ted Lasso

 

The company is no stranger to reclaiming major licenses. In 2022, Mattel successfully won back the rights to Disney Princess and Frozen toys from Hasbro, further strengthening its foothold in the toy industry.

 

With this new multiyear licensing deal, Mattel is set to redefine the DC toy market starting in late 2026. As superhero content continues to dominate film, TV, and digital media, Mattel’s new DC action figures and collectibles could become some of the most sought-after merchandise among fans and collectors alike.

 

Stay tuned for more updates as Mattel gears up to bring DC’s most iconic heroes and villains back to store shelves! 🚀