By innovation I don’t mean "movies that this company will never make". Where has innovation gone?
I haven’t been in the company for a long time, so I’m interested in the opinion of those who know better how things used to be here and much they've changed.
Is it that there are no more innovative people here or is the reason that the company doesn’t listen to the advice of innovative people?
Because Mattel is run by a bunch of number-crunchers, that's why. Mattel is not out to innovate, they're simply trying to make bank until the next quarter. It's all about them paychecks and bonuses.
While I don't disagree that IP is important, I think UNO is a bad example. It's a card game, with a rule set. Consumers wouldn't be happy if Mattel changed or "brought innovation" to UNO. They expect UNO to be the same game they've always known. The same could be said for any board game / card game.
How many other IP can maintain decades of relevance in the toy industry? Mattel is lucky to own several properties that have stood the test of time, but they've only managed to do so through innovative product lines that bring new toys to market twice a year.
You can't "focus on top line IPs" without being creative and finding new ways to drive consumer interest in those brands.
I agree that recently Mattel has struggled with a certain type of "innovation" recently. Things like Sproutling, Nabi Tablets, Barbie Hologram, Aristotle, ThingMaker 3D printer etc. (the list of failed, high profile "tech" products from the past decade is a mile long) and launching new IP like Max Steel and Ever After High were dead on arrival, but that doesn't mean Mattel doesn't need to be innovative.
Fisher-Price is a good example of an office that knows how to do genuine, practical product innovation. Because their brand doesn't revolve around a single, generally static SKU (like a diecast car or a doll) they are constantly forced to come up with brand new products year after year, season after season. This emphasis on new ideas to drive sales, rather then relying on IP, demonstrates how effective true product innovation can be if done right.
The same reason Hollywood Blockbusters aren't innovative. For movies, you get everything you want on streaming on a home 80 inch screen with surround sound, and absolutely no one needs to see Woody Allen on a 6 story screen. Everything kids want these days is on an iPad, Xbox, or Playstation, and the only things selling anymore are established decades old brands. Mattel made a ton on the Uno app straight out of the gate written by a Chinese company with a handful of people Stateside, and YouTubers alone make millions just by streaming online Uno play. Uno grossed over $1M last month alone which is a residual that will pay out forever. All previous stateside app efforts, dozens of them, grossed less than $50k combined. Mattel has dozens of properties that have the mindshare of billions without spending a dime on marketing efforts. It's the IP stupid.
The focus on top line IPs and stabilizing revenue for them is working. Leaving innovation to the garage inventors and acquiring the already successful is a fine strategy, instead of wasting a lot of money on failed in house R&D or "genius" ideas like Ever After High that offend your biggest customer.