Today we are talking all things Barbie; specifically, the marketing budget which is the biggest marketing budget we have seen for a movie in a long time! This company has taken a brand we all know and love and made it more relevant decades later. So what will this massive budget mean for entertainment moving forward and what can we learn from it as small businesses?
The Barbie movie team spent $150 million on marketing on top of the $145 million they spent on the actual production, and the ROI is there, as the production already made the entire amount back in the first weekend alone! There are hundreds of collaborations, and this is absolutely incredible! There have recently been loads of discussions about the profitability of femininity, and any nay-sayers have been proven wrong time and time again. Amazing things happen when women are supported; this movie is more proof!
There has been a very interesting shift in toys recently, and Barbie has seen some controversy for not being diverse and inclusive enough, representing enough of a variety of jobs, and being body positive. This movie helps us remember what Barbie felt like when we were children, before all of this stuff mattered to us! This age-old brand has the heart of many women, and the movie, which was produced for millennial women and not children, reawakens this nostalgia. The movie is even fairly satirical and makes fun of the Barbie world in many ways. There is a lot of power in looking at totally different industries from your own to find things you can learn from!
Thank you for listening! Please subscribe, rate and review The Strategy Hour Podcast on iTunes. Ratings and reviews are extremely helpful and greatly appreciated. For show notes, go to thestrategyhour.com.
Learn more about your ad choices. Visit megaphone.fm/adchoices
Strategy Hour | Online Marketing for Business Growth