Pinkfong partners with Mattel to bring Pingu back to Korean audiences

SEOUL - The Pinkfong Company, creator of Baby Shark, announced Monday an exclusive distribution partnership with Mattel, Inc. (NASDAQ:MAT) to reintroduce the stop-motion classic Pingu to Korean audiences. According to InvestingPro analysis, Mattel faces some financial headwinds with weak gross profit margins and challenging free cash flow yields.

Under the agreement, Pinkfong will exclusively distribute Pingu episodes from the 1990s and 2000s in Korea, including the Pingu Classic Series, Pingu at the Wedding Party special, and Pingu in the City. The episodes will premiere on September 19, with new episodes released weekly on pay-TV and digital platforms.

Pingu, which debuted in the 1980s, has been broadcast in more than 150 countries. The stop-motion series features a young penguin character known for his "Noot Noot!" catchphrase.

"Pingu is one of the most iconic stop-motion properties of all time, and we are thrilled to bring this timeless classic back to Korean audiences through our partnership with Mattel," said Gemma Joo, Chief Business Officer at The Pinkfong Company, according to a press release statement.

Alex Godfrey, Vice President of Global Content Distribution at Mattel, stated, "Mattel is excited to partner with The Pinkfong Company to reintroduce Pingu’s adventures to a new generation of fans in Korea."

The partnership represents Pinkfong’s continued expansion beyond its original properties like Baby Shark and Bebefinn, while allowing Mattel to extend the reach of its entertainment portfolio in the Korean market. Despite current market challenges, Mattel has maintained its dividend payments for 23 consecutive years, demonstrating long-term financial stability.

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