[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 live-action film release of 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.

[26][27] 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.

[28][29][30][31] In July 2022, Mattel Films and Skydance announced the development of a live-action movie based on the Matchbox die-cast toy vehicles.