Netflix Partners with Mattel and Hasbro for ‘KPop Demon Hunters’ Merchandise

Netflix announced today, October 21, 2025, that it has entered into co-master toy licensing agreements with both Mattel and Hasbro for its hit series, “KPop Demon Hunters,” a move signaling a significant expansion of the streaming service’s consumer products strategy.

The unprecedented dual partnership will see both toy industry giants developing a wide range of products based on the show, including dolls, action figures, playsets, and games. This marks a departure from Netflix’s typical approach to merchandising, where it usually aligns with a single partner per property. The popularity of “KPop Demon Hunters” – which blends Korean pop music with supernatural action – has quickly made it one of Netflix’s most-watched original series globally.

Details of the financial agreements were not disclosed, but industry analysts suggest the deals reflect the high demand for “KPop Demon Hunters” merchandise and Netflix’s desire to maximize revenue streams beyond subscriptions. This strategy mirrors successful models employed by Disney and other entertainment conglomerates. For more on the evolving landscape of streaming and merchandise, see Statista’s report on streaming service revenue.

Netflix has been gradually increasing its focus on consumer products in recent years, but this move with “KPop Demon Hunters” represents a substantial escalation. The company’s previous efforts were often limited in scope, but the success of this series has clearly demonstrated the potential for significant revenue generation through licensed merchandise. You can learn more about Netflix’s original series here.

Officials stated that the first “KPop Demon Hunters” toys and games are expected to hit retail shelves in late 2026, with further product announcements planned in the coming months.