Pop Mart and Sony Pictures Entertainment have disclosed plans to create a feature film centered on Labubu, the lovable monster character, for the big screen. The announcement, made in a statement by Pop Mart, signals a significant move by the Chinese toy company to transform its popular collectible toy into a globally appealing entertainment franchise.
Paul King, the acclaimed filmmaker known for works like “Paddington” and “Wonka,” will take on the roles of producer and director for the film. Collaborating with him on the screenplay is Steven Levenson, the celebrated writer behind “Dear Evan Hansen.”
The film, still in its early stages of development, is envisioned as a blend of live-action and CGI elements, as confirmed by Pop Mart and Sony Pictures. Labubu’s immense global following has propelled Pop Mart’s stock prices by 64% over the past year, surpassing the combined market value of industry giants like Hasbro, Mattel, and Sanrio.
Drawing inspiration from Disney’s successful strategies, Pop Mart aims to leverage Labubu’s popularity for long-term success across various platforms. Analysts, such as Jeff Zhang from Morningstar, view the collaboration with Sony Pictures as a crucial step for Pop Mart in diversifying its revenue streams. Despite expectations of increased licensing income from the movie due to Labubu’s worldwide appeal, experts do not foresee a significant impact on Pop Mart’s stock valuation.
Labubu and The Monsters were originally created by artist and writer Kasing Lung in 2015 as part of “The Monsters Trilogy” picture book series. Lung, who hails from Hong Kong and was raised in the Netherlands, will serve as an executive producer for the upcoming film. Currently, Pop Mart is showcasing The Monsters on a global tour to celebrate the characters’ 10th anniversary, with the latest stop being in Paris.
