Pink & Profitable
Barbie´s colorful comeback.
Pink & Profitable: Barbie´s colorful comeback
Love it or hate it, just about everyone has something to say about the record-breaking, blockbuster sensation, Barbie. This cinematic gem tenderly extends an invitation to all Barbie enthusiasts. Some Barbie enthusiasts owned several pieces from her timeless wardrobes, while others were not afforded the opportunity to own or play with Barbie at all. Dwarfing other films released this month (and year, and decade), Barbie- once again- is proving to be worth all the hype she has garnered throughout her iconic years. Even Oppenheimer, Barbie’s #1 competitor at the box-office, leveraged Barbie's halo effect capitalizing on a once-common but now rare nostalgic tradition of double-features. Coined ‘Barbenheimer,’ consumers were encouraged to watch the fantastical and biographical films back-to-back, shattering the typical box-office release strategies.
Serving as a myriad of symbols to children worldwide, Barbie continues to hold her place as a strong cultural icon and influence across multiple generations. Tapping into the nostalgia of Millennials and Gen Z, multiple companies across several industries are taking advantage of Barbie’s brand, leaving many of us to wonder: Just how big was Warner Bros.’ marketing budget for Barbie? Creeping towards the prestigious billion-dollar box-office club, Barbie’s captivating market efforts are growing to be just as legendary as the fashion doll herself.
Nostalgia Marketing
Barbie, born in 1959, quickly reinvented the toy market with her glamour, versatility and feminine empowerment. Subsequently, Barbie has held a special place in the hearts (and wallets) of Millennials even in their adulthood, thus making them the perfect target demographic. Her heritage, evolution, positioning and deep emotional ties make for an incredible marketing machine, as several organizations both officially and unofficially, piggyback on her cultural moment. With her proven dedication to authenticity, diversity and inclusion- Barbie offers mass appeal for men, women and children alike for decades transcending typical consumer segmentations. Brands recognize that capitalizing on the legacy of childhood heroes allows a profound emotional connection driving more sales across more channels. This formula, however, is not unique, as more media companies continue to prove that consumers crave nostalgia. With successful releases like Air Jordan and Super Mario Bros., we are reminded that Nike is more than just a shoe company and Mario is more than just a video game character. Barbie has quickly turned into one big pink publicity machine, leaving many to speculate the budget was around $150 Million, despite Josh Goldstine, President of Global Marketing at Warner Bros. insisting he will not “comment on the budget”. Albeit, he does admit in a recent Variety interview that there was a combination of paid media, which seems to be clear as marketing partners transcend across multiple verticals.
Marketing Magic – The Power of Pink
The release of Barbie, the movie, has offered a prime opportunity for brands to celebrate her timeless consumer appeal with boosting brand awareness and driving sales, in a pink halo effect. Pink, synonymous with Barbie’s legacy, is a strong force to be reckoned with this summer in multiple industries, and there is no denying that this powerful color is driving consumer engagement and perceptions in several sectors.
1. Fashion and Apparel
Arguably the greatest fashion icon of American history, Barbie makes the perfect partner for fashion brands. Designer dresses, clothes, purses and shoes channel Barbie’s perfect in pink aesthetic, offering a chance for their consumers to embrace their inner doll. Fashion brands taking advantage of consumers’ need to wear pink to see Barbie in theaters include Crocs, Forever 21, Aldo, and Bloomingdales. With a wide array of fashion options, consumers can done Barbie drip from head-to-toe.
2. Technology and Gadgets
Perhaps the least obvious and most successful Barbie partnerships lay within the tech industry. Multiple tech brands have given into the pink frenzy launching gadgets and accessories in Barbie’s signature color. Most surprising may be the Xbox Custom Controller faceplates designed after the movie’s on-screen fashion choices of Barbie and Ken for all gamer guys and girls. Disruptive, innovative tech platform Airbnb also developed an iconic listing of a Barbie Malibu Dreamhouse; but staying there will be no easy feat as the house is sold out for all of 2023. Online users will also notice streaming channels like Hulu, Netflix and Amazon Prime plastering past projects of Barbie lead star, Margot Robbie, leveraging her familiar face for a halo-effect as well. The Bumble app that brings single people together took the fun to another level by buzzing with Barbie-themed opening lines to help their users become the “best date ever.” Last, but far from least, the Barbie soundtrack, a sonic allure crafted by the maestro Mark Ronson, reigns supreme atop charts spinning over 200 million Spotify streams.
3. Food and Beverage
The food and beverage industries are also embracing the pink wave, presenting a variety of delectable treats in Barbie's signature color. Pink-hued desserts, beverages and snacks cater to the Instagram generation, making every moment share-worthy. Pink and palatable pleasures include Barbie-themed Krispy Kreme Philippines donuts, Cold Stone Creamery ice cream, Pinkberry Barbie Land frozen yogurt and even unofficial cocktails and pink pasta creations that make for perfect social media posts.
4. Cosmetics & Beauty
Pink once again dominates the palettes, as MAC, NYX and PÜR offer various ways to have a Barbie-esque look. It is a bit shocking and unusual that any brand would extend IP assets across multiple brands who are possibly direct competitors. This decision may leave many to wonder just how many ‘paid media’ partners did Warner Bros. engage to bring these Barbie activations and products to life? Any marketeer would be eager to get a BTS glance at the licensing agreements and scopes of work Mattel signed off for these projects. In the realm of marketing and business strategies, IP licensing agreements are considered diluted if shared across too many channels or categories, but Barbie seems to defy this principle.
Barbie Reigns Supreme
The release of Barbie has offered a cultural celebration igniting a pink revolution around the globe, from Margot Robbie’s homestead, Australia, to controversy in The Philippines to Dallas, Texas. Multiple companies and brands are officially and not-so-officially boasting an array of pink-themed products. Barbie’s influence on consumers is transformative, as brands leverage nostalgia to drive innovation and creativity. Barbie’s pink empire is dominating the retail, tech, music, entertainment and influencer spaces rivaling previous advertising campaigns of much larger predecessors such as Nike, Apple, Coca-Cola and McDonald’s. Barbie’s unwavering ability to stay ahead of cultural trends and influence American pop culture stands as a powerful testament to her timeless allure. Barbie, once again, embodies marketing excellence, etching her legacy as an iconic marketing legend who transcends across multiple landscapes and consumer demographics.