El Segundo, California-based toy company, Mattel, Inc. (NASDAQ: MAT) is set to debut its first three 24/7 Free Ad Supported Streaming (FAST) channels on Samsung’s free TV streaming service, Samsung TV Plus. Mattel has collaborated with Samsung to make this project possible which will be initiated later this year. The three channels, namely Barbie and Friends, Hot Wheels Action, and Mattel Jr. will be available free on Samsung smart TVs, Galaxy devices, and through the official site, www.samsungtvplus.com.
The company’s move into the streaming space comes amidst a period of robust growth. In the fourth quarter of 2023, Mattel reported an impressive 15.63% increase in their revenue year on year. This is in stark contrast to its competitors, who, on average, saw a contraction in revenues by -1.67% for the same period.
Moreover, Mattel Inc.’s profitability also tops that of its competitors, with a reported net margin of 9.09%. The strength of Mattel’s profitability becomes even more apparent when considering its net income growth. The company saw its net income in Q4 2023 surge by a staggering 812.91% year on year. This outpaces the average income growth of its competitors, which stands at 20.31%.Mattel Inc’s venture into streaming, backed by its strong financial performance, marks a notable expansion for the company, helping diversify its portfolio beyond traditional toys. As the company prepares to launch its three new channels on Samsung TV Plus, it’s clear that the company is making strategic moves to broaden its brand’s reach and tap into the rapidly growing streaming space.
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