More Live-Action ‘Barbie’ Movies May Be Underway as Mattel Transitions to Franchise Company

Greta Gerwig's Barbie, starring Margot Robbie in the title role alongside Ryan Gosling as her Ken, is gearing up to be one of the hottest tickets in town when it hits theaters July 21.

Mattel is acutely aware of the powerful pop cultural phenomenon that the Barbie blockbuster has become (hype for the film started long before its buzzy, blush-pink press tour) — and that seems to be all by design.

Mattel's CEO Ynon Kreiz told Time in a feature story published Tuesday that there's a possibility for more live-action Barbie films as the company expands from being just a toy-manufacturing company to one that manages franchises.

The "most important transition," Kreiz said, was becoming an IP company.

"We're looking to create movies that become cultural events. If you can excite filmmakers like Greta and [co-writer] Noah [Baumbach] to embrace the opportunity and have creative freedom, you can have a real impact," Kreiz said, emphasizing that Barbie isn't being released in the hopes of generating more sales — Mattel is currently worth $6.65 billion — but rather to make Mattel a worthy competitor in the franchise game.

Still, at this time, no official plans have been announced for a Barbie sequel.

Nostalgia is one factor making Barbie one of the most anticipated of the year — alongside a cast brimming with A-listers, a star-studded soundtrack and a marketing campaign dripping with fuchsia.

America Ferrera, Dua Lipa, Michael Cera, Kate McKinnon, Issa Rae, Will Ferrell, John Cena, Simu Liu and Ana Cruz Kayne are among the cast. Barbie hits theaters July 21.