Paramount Inks Massive Global Toy Deal for Teenage Mutant Ninja Turtles

Post By DJ Longers
February 13, 2026

Cowabunga at Mattel: Paramount Inks Massive Global Toy Deal for Teenage Mutant Ninja Turtles

EL SEGUNDO, CA — The "Heroes in a Half Shell" are officially packing up their shells and moving to a new home. In a seismic shift for the toy industry, Paramount (now a Skydance Corporation) and Mattel, Inc. announced a landmark multi-year global licensing agreement this week, handing the reigns of the Teenage Mutant Ninja Turtles (TMNT) toy empire to the makers of Barbie and Hot Wheels.

The deal, which takes effect in 2027, marks the end of a legendary nearly 40-year partnership between the Turtles and Playmates Toys, which has held the master license since the franchise’s explosion into the mainstream in 1988.

A New Era of Play

Under the new agreement, Mattel will become the primary developer and marketer for a massive range of TMNT products. Fans can expect a "pizza-box full" of new offerings hitting retail shelves starting in early 2027, including:

Action Figures & Playsets: Ranging from nostalgic collectors' items to modern "Mutant Mayhem" designs.
Vehicles & Accessories: Integrating Mattel’s world-class engineering (potentially involving Hot Wheels collaborations).
Games & Role-Play: Immersive gear that allows a new generation of kids to "suit up" as Leonardo, Raphael, Donatello, or Michelangelo.

Cinematic Tie-Ins: 2027 & 2028

The partnership is strategically timed to anchor Paramount's ambitious upcoming theatrical slate. Mattel has confirmed dedicated product lines for two major projects:

Teenage Mutant Ninja Turtles: Mutant Mayhem 2: The highly anticipated animated sequel is currently slated for a 2027 release.
Untitled Live-Action/CG Hybrid Film: A mysterious new entry into the franchise is planned for 2028, which insiders suggest will take a more "grounded but gritty" approach to the brothers' story.

“The enduring power of the Turtles lies in their ability to evolve with each generation,” said Roberto Stanichi, EVP and Chief Global Brand Officer at Mattel. “We are excited to bring these characters to life in new ways.”

The "Skydance" Strategy

Industry analysts point to the recent merger between Paramount and Skydance as the catalyst for this change. Under the new leadership of David Ellison, Paramount has been aggressively auditing its intellectual property, seeking global partners with the infrastructure to turn franchises like TMNT into "360-degree entertainment ecosystems."

By partnering with Mattel, Paramount gains access to a retail distribution network that is second to none, ensuring the Turtles remain a dominant force in the "aisle of power" alongside Mattel's other heavy hitters like Masters of the Universe and DC Comics (which Mattel also recently regained).

What Happens to Playmates?

For many collectors, the news is bittersweet. Playmates Toys is widely credited with creating the "action figure boom" of the early 90s through their quirky, often bizarre TMNT variants. While Playmates will finish its current run through the end of 2026, the transition to Mattel signals a shift toward a more corporate, "universal" branding strategy for the green teens.

As the sewer doors close on one era, they are swinging wide open for another. For the Turtles, the future isn't just green... it’s Mattel blue.