[1] On March 31, 2016, Mattel placed the division within a newly created division at the time, Mattel Creations, absorbed its operations into it and, seven months later, made it defunct due to poor box office reception of the release of the live action film Max Steel.

[8] David Voss, a veteran in the toy and entertainment business, was appointed as the division's head and Senior Vice President.

[12] After Voss left the division in January 2016 for subscription service, Loot Crate,[13] Mattel placed PGP within Mattel Creations upon its formation along with its other two content production units: HIT Entertainment and the content creation team of American Girl at Middleton, Wisconsin.

[27][28] On December 16, 2021, Mattel Films announced its first project based on outside intellectual property: Christmas Balloon, which is written by Gabriela Revilla Lugo.

The film is intended to be based on the true story of a young girl who tried to send her Christmas message to Santa via a balloon.

[29][30][31][32] In July 2022, Mattel Films and Skydance announced the development of a live-action movie based on the Matchbox die-cast toy vehicles.