Beijing-based Pop Mart International Group is placing a big bet on extending the life of its wildly popular Labubu collectible toy, partnering with Sony Pictures Entertainment to develop a feature film. The move, announced on March 19, 2026, comes as the company navigates slowing sales growth and investor concerns about the sustainability of the Labubu craze. The film represents a significant step in Pop Mart’s ambition to transform Labubu into a lasting franchise, moving beyond toys and into broader entertainment.
The project will be directed and co-written by Paul King, the English filmmaker known for his work on the Paddington films and the recent Wonka, according to the official statement. King will collaborate with American playwright Steven Levenson on the script. Kasing Lung, the Hong Kong-born artist who created the Labubu character, will serve as executive producer, ensuring creative input from the original creator. This collaboration signals Sony Pictures’ confidence in the global appeal of the Labubu IP and its potential for cinematic storytelling.
Labubu, with its distinctive toothy grin and endearing design, became a global phenomenon in 2025, capturing the attention of collectors, celebrities, and K-pop idols alike. The toy’s popularity drove Pop Mart’s Hong Kong-listed stock to record highs in August 2025, demonstrating the power of the brand and its ability to tap into a global consumer base. However, that momentum has since cooled, with shares retreating more than 30 percent as concerns mounted over potential market saturation and the dilution of Labubu’s exclusivity.
From Collectible Craze to Cinematic Universe
The partnership with Sony Pictures is a clear indication of Pop Mart’s strategy to diversify its revenue streams and build a more enduring brand. The company has already begun expanding beyond toys, opening a theme park in Beijing and launching a jewelry store chain featuring pendants and rings inspired by its popular characters. A film adaptation offers the potential to reach a wider audience and deepen engagement with the Labubu universe. As noted by analysts at Morgan Stanley, including Dustin Wei, Pop Mart could “remain focused on its core strength – creating collectible toys – while leveraging Sony Pictures’ scale for global exposure,” according to a report from late 2025.
Director-writer Paul King (left) will helm the Labubu movie and artist Kasing Lung (right), who created the character, will serve as executive producer.
PHOTO: POP MART
A Rare Instance of Chinese Soft Power
The initial success of Labubu marked a notable moment for Chinese cultural exports, representing a rare instance of “soft power” resonating on a global scale, particularly in Western markets like the United States and Europe. The toy’s appeal transcended cultural boundaries, embraced by a diverse range of influencers and consumers. However, maintaining that momentum requires continuous innovation and expansion, as Pop Mart is demonstrating with its foray into film and other related merchandise.
Early Development and Future Plans
The Labubu movie is currently in early development, planned as a hybrid of live action and computer-generated imagery. Financial details and a release timeline have not yet been disclosed. Jeff Zhang, an analyst at Morningstar, highlighted the partnership with Sony Pictures as a “milestone” in Pop Mart’s efforts to diversify its revenue streams, adding that the film “will likely add to Pop Mart’s future licensing income.” However, Zhang does not anticipate the news to significantly impact the company’s stock valuation in the immediate term.
In addition to the film project, Pop Mart continues to introduce fresh characters, including Twinkle Twinkle and Skullpanda, in an effort to broaden its appeal and maintain consumer interest. Founder and CEO Wang Ning is focused on transforming the company into a broader “creative platform” capable of consistently generating new intellectual property. This strategy aims to mitigate the risk of relying too heavily on a single character and ensure long-term growth.
What’s Next for Labubu and Pop Mart?
While the Labubu movie is still in its early stages, the partnership with Sony Pictures represents a significant step forward for Pop Mart. The company’s ability to successfully translate the toy’s popularity into a compelling cinematic experience will be crucial in determining the long-term viability of the Labubu franchise. Investors and analysts will be closely watching for further updates on the film’s development, including casting announcements and a projected release date. Pop Mart is scheduled to release its first-quarter earnings report in May 2026, which may provide further insight into the company’s diversification efforts and the impact of the Labubu film announcement.
What are your thoughts on the Labubu movie? Share your opinions in the comments below, and be sure to share this article with fellow toy enthusiasts!
