Mattel and NetEase Launch New Joint Venture
Companies form joint venture to develop and publish mobile games and education apps inspired by Mattel’s iconic portfolio of brands
EL SEGUNDO, Calif. – January 30, 2018 – Mattel, Inc. (NASDAQ: MAT), the global leader in learning and development through play, today announced it has entered into a joint venture with NetEase, Inc. (NASDAQ: NTES), a leading global internet technology and video game company, to form a world-class publishing and development studio, Mattel163. Drawing on NetEase’s leading expertise in digital content and gaming, the studio aims to bring to market a wide variety of digital experiences based on Mattel’s iconic global brands.
“Mobile gaming is growing at a phenomenal pace, and is estimated to generate nearly $58 billion in global revenue by 2018[i],” said Sid Mathur, Mattel Executive Vice President and Chief Strategy and Development Officer. “By combining NetEase’s leadership in game development and publishing with Mattel’s expansive portfolio of global consumer brands, Mattel163 is poised to build captivating and creative mobile experiences.”
A pioneering China-based internet technology company, NetEase is widely recognized as one of the world’s leading mobile game developers. With a global market capitalization of more than $40 billion, NetEase is ranked among the world’s top-earning mobile game publishers. The company is responsible for developing many of the world’s most popular mobile gaming franchises, including Fantasy Westward Journey, The Ghost, Onmyoji, and Rules of Survival, among many others. NetEase is also a pioneer in online education, among one of the first to introduce massive open online courses (MOOCs) in China.
“Mattel has been defining the future of learning and play for generations, and we are honored to be partnering to create a new world-class publishing and development studio in gaming and education,” said Benjamin Ha, Corporate Vice President at NetEase and CEO of NetEase Capital. “By combining NetEase’s global footprint and established roots in gaming and education with Mattel’s iconic consumer brands, Mattel163 will be able to bring even more creative and innovative gaming and educational experiences to users around the world.”
Inspired by NetEase’s heritage as an internet technology pioneer, the name “Mattel163” is an homage to the company’s original URL (http://www.163.com), a reference to the early days of internet availability in China when users dialed the digits “163” to gain online access.
Mattel163’s first title will be based on Mattel’s wildly popular UNO™ game, now available on Facebook Messenger and coming soon as a mobile app to iOS and Android devices. UNO™ will include unique features and fresh modes of play, designed to appeal to a worldwide audience. Going forward, Mattel163 will seek to create more mobile games and education apps inspired by Mattel brands, including Barbie®, Hot Wheels®, Fisher-Price® and Thomas & Friends™, among others.
Mattel is a global learning, development and play company that inspires the next generation of kids to shape a brighter tomorrow. Through our portfolio of iconic consumer brands, including American Girl®, Barbie®, Fisher-Price®, Hot Wheels® and Thomas & Friends™, we create systems of play, content and experiences that help kids unlock their full potential. Mattel also creates inspiring and innovative products in collaboration with leading entertainment and technology companies as well as other partners. With a global workforce of approximately 32,000 people, Mattel operates in 40 countries and territories and sells products in more than 150 nations. Visit us online at www.mattel.com.
NetEase, Inc. (NASDAQ: NTES) is a leading internet technology company in China. Dedicated to providing online services centered around content, community, communication and commerce, NetEase develops and operates some of China’s most popular PC-client and mobile games, advertising services, e-mail services and e-commerce platforms. In partnership with Blizzard Entertainment, Mojang AB (a Microsoft subsidiary) and other global game developers, NetEase also operates some of the most popular international online games in China. For more information, please visit: http://ir.netease.com.
[i] Newzoo/Global Games Market Report