LOS ANGELES, 20 November 2025 — Sony Pictures has acquired the screen rights to Labubu, the popular designer-toy franchise from POP MART, and is developing a feature-film adaptation. The move nonetheless carries risk, as earlier toy-to-movie tie-ins have struggled to meet box-office expectations. Sources say the project remains in early development with no director or cast yet attached.
Why the Deal Matters, and Why It’s Risky
- Labubu has achieved viral global popularity, driven by “blind-box” collectibles, celebrity endorsements and a fervent collector resale market.
- Sony is betting this pop culture momentum will translate into a cinematic franchise, positioning Labubu alongside the likes of Barbie and The LEGO Movie.
- Yet the toy-to-film pipeline is littered with cautionary tales: brand awareness does not always equal box-office success, and consumer-toy trends may not sustain a franchise.
- For Sony, execution is critical: maintaining brand authenticity, appealing to global audiences beyond the core toy fan base, and avoiding “novelty” status will determine whether Labubu becomes a lasting property or a one-off experiment.
Implications for Asian IP and Entertainment Markets
- The deal underscores growing investment interest in Asian-origin IP being adapted for global media, a trend relevant for Malaysia’s creative-economy strategy.
- It signals that global studios are scanning non-traditional franchises for scalable media properties, which may increase M&A and collaboration activity in the APAC entertainment sector.
- From a regional perspective, ensuring localisation, cultural resonance and high production quality will be key to crossing from toy phenomena to global film success.
What to Watch
- Whether Sony attaches high-profile talent (director, screenwriter, cast)–a signal that the project is serious and well-budgeted.
- The business model: Will Sony pursue a global theatrical release, streaming tie-ins, and merchandise/licensing follow-ons?
- Timing and budget: Toy-based films can often carry large budgets relative to expected audience size; cost control will matter.
- Follow-on effects: If successful, Labubu might trigger more toy-IP adaptations, but a failure could reset expectations for similar deals.
