Labubu’s charming smile is set to hit the silver screen as toy-maker Pop Mart and Sony Pictures Entertainment have revealed their collaboration to develop a feature film based on the viral endearing monster. The announcement of the film, made in a statement by Pop Mart, signifies a significant move by the Chinese company to transform its popular collectible toy sensation into a global entertainment franchise. Earlier this year, the company highlighted this ambition by designating London as its European headquarters.
Renowned filmmaker Paul King, known for his work on “Paddington,” “Paddington 2,” and “Wonka,” has been enlisted to produce and direct the film. King will also co-write the screenplay with Steven Levenson, the award-winning writer recognized for his work on “Dear Evan Hansen.”
The movie is currently in the early stages of development and is planned to be a live-action and CGI hybrid, according to statements by Pop Mart and Sony Pictures. Labubu’s widespread appeal has significantly boosted Pop Mart’s shares by 64% over the past year, surpassing the combined market value of competitors Hasbro, Mattel, and Sanrio.
Pop Mart has expressed its intention to draw inspiration from Disney’s strategies in leveraging Labubu’s popularity for long-term success. Company executives have emphasized the potential for expanding Pop Mart’s characters, including Labubu, into various forms of entertainment, theme parks, and merchandise, following the successful model set by Disney with its intellectual properties.
Analyst Jeff Zhang from investment research firm Morningstar views the partnership with Sony Pictures as a pivotal moment in Pop Mart’s diversification of revenue streams. Zhang anticipates that the movie, given Labubu’s global appeal, will contribute to Pop Mart’s future licensing income. However, he does not expect this news to significantly impact the company’s stock valuation.
The creator of Labubu, Kasing Lung, an artist and writer from Hong Kong who grew up in the Netherlands, introduced Labubu and The Monsters through a series of picture books titled “The Monsters Trilogy” in 2015. Lung will serve as an executive producer on the film. Pop Mart is currently showcasing The Monsters worldwide to celebrate the characters’ 10th anniversary, with the latest exhibition held in Paris.
