Last time we talked about Teenage Mutant Ninja Turtles toys, it was about the end of an era. Playmates, the company that helped define TMNT action figures for decades, was losing the license. We now know who will be stepping in next, and it is not a small move. Mattel has signed a global, multi-year licensing agreement with Paramount to develop and market a wide range of Teenage Mutant Ninja Turtles products beginning in 2027.
This is not just a routine toy shuffle. It is one of those moments in toy history where a franchise changes hands after years of familiarity, and everyone wonders what comes next.
What the Mattel deal includes
Under the agreement, Mattel will produce action figures, playsets, accessories, vehicles, games, collectibles, role play items and more for the Turtles brand. The rollout begins in 2027 and is designed to align with the franchise’s next wave of screen projects.
That includes product lines tied to Teenage Mutant Ninja Turtles: Mutant Mayhem 2, scheduled for 2027, as well as a new untitled live-action and CG hybrid Teenage Mutant Ninja Turtles film currently planned for 2028. In other words, Mattel is not just picking up a legacy toy line. It is stepping into the next chapter of the franchise’s cinematic future.
Roberto Stanichi, EVP and Chief Global Brand Officer at Mattel, framed the partnership as a milestone for the company. “Teenage Mutant Ninja Turtles is one of the most successful entertainment franchises in history, and partnering with Paramount on this iconic property marks a significant moment for Mattel and the brand. The enduring power of the Turtles lies in their ability to evolve with each generation, and we are excited to bring these characters to life in new ways.”
From Paramount’s side, the emphasis is on scale and longevity. Josh Silverman, President of Global Products and Experiences at Paramount, said, “Teenage Mutant Ninja Turtles’ rich history and timeless legacy have created a powerful connection with audiences around the world. Extending the world of Teenage Mutant Ninja Turtles through so many different touchpoints is something we deeply value as we continue expanding the ways people can interact with and celebrate the world of these beloved brothers. We are pleased to embark on this next chapter with Mattel, whose ability to innovate on a global scale positions us to further grow the brand and engage fans across generations.”
Why this is a big shift
Teenage Mutant Ninja Turtles has been a retail powerhouse since Kevin Eastman and Peter Laird created the characters in 1984. The brand has moved through comics, animated series, live-action films, games, and an enormous consumer products business that has generated billions in sales. For many fans, the toys were the gateway into the world of Leonardo, Donatello, Michelangelo, and Raphael.
That is why this transition matters. Mattel brings a very different corporate structure and global reach compared to Playmates. It has experience scaling brands across multiple entertainment platforms and aligning toy launches closely with film and streaming strategies. With a sequel to Teenage Mutant Ninja Turtles: Mutant Mayhem on the way and a hybrid live-action and CG film in development for 2028, the toy line will likely be built in tandem with those stories from the start.
What fans should expect
It is too early to know what the design philosophy will look like or how closely Mattel will lean into nostalgia versus reinvention. What is clear is that the Turtles are entering another evolution phase, both on screen and on toy shelves.
The handoff from Playmates to Mattel signals that Paramount is thinking long term about Teenage Mutant Ninja Turtles as a cross-generational brand, not just a movie tie-in machine. For fans who grew up with the original figures and for younger audiences discovering the franchise through animation and film, 2027 will mark the beginning of a new era.
Bottom line
Mattel taking over the Teenage Mutant Ninja Turtles toy license is more than a business update. It is a defining shift for one of the most recognizable action figure lines in history. With major films lined up through 2028, this partnership will shape how the next generation meets the Turtles, not just on screen, but in their hands.
