Mattel has officially announced a multi-year global licensing partnership with Paramount Global to produce toys and related products for the Teenage Mutant Ninja Turtles brand beginning in 2027.
The agreement gives Mattel the rights to develop and distribute a wide range of TMNT products worldwide, including action figures, playsets, vehicles, role-play items, games, and collectibles. The launch will align with Paramount’s upcoming theatrical slate, including Teenage Mutant Ninja Turtles: Mutant Mayhem 2 in 2027 and a separate live-action and CG hybrid film planned for 2028.
For collectors, this marks one of the most significant shifts in the TMNT toy landscape in decades.
The End of an Era for Playmates
Since 1988, Playmates Toys has been synonymous with TMNT action figures. From the original vintage line to multiple animated and movie reboots, Playmates shaped the brand’s toy identity for nearly 40 years.
With Mattel taking over in 2027, Playmates’ long-running stewardship of the Turtles will conclude in 2026. That transition alone could influence the collector market in several ways:
- Increased interest in late-era Playmates releases
- Renewed attention on vintage 1988 figures
- Short-term speculation leading up to the license change
Historically, when major toy licenses shift hands, final waves and transitional releases often gain attention from completists.
What Mattel Brings to the Table
Mattel’s portfolio and global infrastructure suggest a broader, more layered TMNT strategy. The company has experience balancing mass retail lines with collector-focused segments, something that could reshape how TMNT is positioned at different price points.
Potential impacts for collectors include:
1. Expanded Collector Offerings
Mattel has demonstrated strength in nostalgia-driven and adult collector lines. If that approach carries over, we could see premium sculpting, higher articulation standards, and retailer exclusives aimed directly at long-time fans.
2. Movie-Driven Product Waves
With toys launching alongside two theatrical films, expect coordinated product drops tied closely to media exposure. Film cycles often introduce new character designs, variants, and limited runs that later become key collection pieces.
3. Global Retail Reach
Mattel’s distribution network may expand TMNT’s international presence, potentially increasing availability in some markets while standardizing assortments globally.
What This Means for the TMNT Collecting Market
The Teenage Mutant Ninja Turtles brand remains one of the most durable action figure properties in toy history. A licensing shift of this scale typically creates a reset moment in the market.
Short term, attention may shift toward:
- Completing Playmates runs before 2026
- Securing key exclusives tied to the Mutant Mayhem era
- Watching early Mattel prototypes closely once revealed
Long term, the first Mattel TMNT wave in 2027 could become historically significant. First-year releases under a new license often carry added collector interest, especially if design direction differs noticeably from the previous manufacturer.
Looking Ahead to 2027
While no product images or specific sub-lines have been revealed yet, the timeline gives collectors several years to monitor developments. Toy Fair previews, retailer listings, and early concept art will likely begin surfacing closer to 2026.
For now, this announcement signals a major transition point for one of the most iconic action figure brands ever produced.