In a recent filing with The Stock Exchange of Hong Kong Limited, Playmates has revealed that, as the long-time producer of consumer products inspired by TMNT, the company had been in negotiations with Paramount (under Viacom Media Networks) to renew their license for the right to design, manufacture, distribute and sell the products of Teenage Mutant Ninja Turtles since October 2025, but the company has now been formally notified by Paramount that the license agreement will not be renewed upon expiry on Thursday 31 December 2026. As a result, the rights of Playmates to sell the Teenage Mutant Ninja Turtles products shall cease on 31 December 2026, while the right to dispose its inventories of any TMNT products already manufactured will cease 90 days thereafter pursuant to the license agreement.
In the same filing, Playmates also revealed that, based on sales information, the revenue from sales of Teenage Mutant Ninja Turtles products represented approximately 8%, 13%, 77%, 47% and 36% of the consolidated revenue of Playmates Toys Limited and its subsidiaries for the year ended 31 December 2021, 31 December 2022, 31 December 2023, 31 December 2024 and for the six months ended 30 June 2025, respectively.
Update (5/13/2026): Since the original post, Paramount has announced Mattel as the new global license holder for the TMNT brand, however, in a new development, Playmates has hired law firm Reeves & Weiss LLP to "protect" their brand:
Decades to build a beloved brand. Our job: protect it.We're proud to share that Playmates Toys Inc. – the licensee of the Teenage Mutant Ninja Turtles Franchise and the designer, developer and manufacturer of nearly all TMNT action figures for almost four decades – has asked Reeves & Weiss to defend the company and safeguard the legacy and value of a brand that has shaped generations.It's a privilege to be entrusted with work of this magnitude on behalf of an enterprise with such a storied history of bringing joy to generations of fans.More to follow. We're honored to be in the fight.
Stream the Teenage Mutant Ninja Turtles Universe, including Mutant Mayhem on Paramount+! Try it FREE at ParamountPlus.com!
Stream Rise of the Teenage Mutant Ninja Turtles: The Movie on Netflix!
Buy TMNT merch on the OFFICIAL Paramount Shop: https://www.paramountshop.com/pages/teenage-mutant-ninja-turtles
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More Nick: Paramount Launches ‘World of TMNT’ Hub!
Originally published: December 24, 2025.
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