The hit show, alongside the company’s acquisition of Cardinal Industries, has helped revenues reach $161.7m in the most recent quarter.
Spin Master’s first quarter profit was $9.9m or 10 cents per share, compared to $1.7m in the same period last year.
Co-founder Ronnen Harary commented: “Paw Patrol is resonating with kids, not only in North America but everywhere in the world. The other amazing thing with Paw Patrol is that it stretches in age and parents will love watching.”
The company is also looking to tap the Asian market with the popular kids’ show, featuring a boy named Ryder and six dogs. “We’re continuing to invest in keeping the Paw Patrol content fresh, with new characters and themes in order to increase the longevity of the franchise,” global president and chief operating officer Ben Gadbois added.
However, the executives said they’re not only relying on Paw Patrol, with plans to launch up to two new properties each year. It has also opened sales and distribution offices across Europe and recently opened an Australian subsidiary.
They also attributed the company’s growth to its acquisition of Cardinal Industries, which manufactures games licensed by the likes of Disney and Warner Bros. They said a 75.5% increase in activities, puzzles and fun furniture product sales to $49.7m was “primarily driven by Cardinal”.
Spin Master also recently acquired children’s mobile app producer Toca Boca and Sago Mini, which produces apps for kids. “The rationale for our acquisition was based on the reality that kids are consuming more content on mobile devices and we want to be where the kids are,” Harary said.
Spin Master is now within the top five toy manufacturers in the world, joining the ranks of Lego Group and Hasbro Toys. In addition to this, Paw Patrol is the third largest growing property in 2015, behind Star Wars and Shopkins.