Strong sales for games, Cool Maker and Kinetic Sand fuel Q3 growth for Spin Master
Spin Master has seen revenue increase 4.3% in its Q3 2020 results, with Q3 revenue this year at $571.6m compared to $548.1m in Q3 2019.
“This quarter we showed continued progress on many fronts,” said Ronnen Harary, Spin Master’s Co-CEO.
“We launched one of our strongest Fall lines ever, with many of our toys making retailers’ top toy lists and in the quarter we grew both Gross Product Sales and Revenue while managing through the uncertain conditions arising from COVID-19. In September, we premiered our first-ever straight-to-streaming entertainment franchise Mighty Express and also saw significant growth in our Toca Boca digital games business driven by increased engagement and new content.
“Thanks to the dedication and tenacity of our team members globally, we are very well positioned for the holiday season with strong POS momentum globally for our products, lean retail inventories and continued consumer demand within the toy category.”
Delving deeper into category performance, gross product sales in Activities, Games & Puzzles and Plush increased by 13.2% to $172.5 m in Q3. The increase was driven primarily by Kinetic Sand, the Games & Puzzles portfolio, Cool Maker, Rainbow Jellies and Orbeez, but partially offset by declines in GUND and Bunchems.
Elsewhere, gross product sales in RC & Interactive Characters decreased by 24.5% to $88.6m, primarily due to lower sales of Owleez and Hatchimals, but partially offset by increases in Monster Jam RC and Ninja Bots.
Gross product sales in Boys Action & Construction increased by 27.5% to $131.6m. The increase was primarily driven by DC licensed products, Present Pets and Tech Deck, offset in part by declines in DreamWorks Dragons, Boxer and Bakugan.
In Pre–School & Girls, gross product sales decreased by 10.6% to $182.4m, with the decrease driven by declines in PAW Patrol, Twisty Petz, Candylocks and Awesome Blossems, offset in part by higher sales of Pre Cool.
To stay in the loop with the latest news, interviews and features from the world of toy and game design, sign up to our weekly newsletter here