If you are a child of the 1960s, 1970s, 1980s, or 1990s, listen up (which basically means all of you out there). There is going to be a new live-action Barbie film and no, we can’t handle it. Even though Barbie (who has managed to remain ageless throughout her years at the top) has had more than dozen animated films throughout her lifetime, this will be the first one distributed in theaters. Here’s what you need to know.

According to Variety, Australian actress Margot Robbie will play the role of Mattel's iconic Barbie doll in the toy's first live-action film (which makes sense as she already looks like a real-life doll, and yes, we mean that as a the best compliment possible). The feature film will be the first from the toy manufacturer's new studio Mattel Films, and co-produced with Robbie's production company LuckyChap Entertainment.

"Over the brand's almost 60 years, Barbie has empowered kids to imagine themselves in aspirational roles from a princess to president. I'm so honored to take on this role and produce a film that I believe will have a tremendously positive impact on children and audiences worldwide," Margot Robbie said, according to a statement that was released to the media.

So far, no plot, title or release date was announced for the film, which comes 60 years after the Barbie fashion doll was launched in March 1959. Since then, Barbie has adopted more than 200 careers in her lifetime, including robotics engineer, astronaut and teacher.

After receiving lots of criticism for Barbie’s figures, her lifestyle, and well, some of the things she might have said in the past (or the things that she’s heard when there were privacy fears over the Smart Barbie in 2015), she’s managed to rebound in recent years. Mattel has done a good job of refocusing content on Barbie’s many careers and being a savvy older sister. This has helped the sales of the doll rebound after years of decline, with the brand posting four straight quarters of revenue gains.

For many fans, Margot Robbie seems like the perfect fit for the movie. As many fans already know, the actress received an Oscar nomination for her starring role in the 2017 ice-skating movie “I, Tonya.” She also appeared in the 2016 superhero movie “Suicide Squad.”

Soon enough we will all be living in a Barbie world where life, for the most part, is plastic and fantastic. Get ready, folks.

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