NEWS

Spin Master reports preliminary ’21 and Q4 ’21 revenue

Published on: 2nd February 2022

Spin Master’s Q4 revenue grew 26.5%, driven by growth in toy, entertainment and licensing, as well as digital games revenues.

The company’s preliminary unaudited revenue for the three months ended 31st December was $620.5m, up from $490.6m in the fourth quarter of 2020. Total revenue for 2021 was $2,042.4m, an increase of 30% from $1,570.6m.

For the full year, Spin Master’s toy revenue increased by $316.2m or 22.3% to $1,731.8m, driven by growth in all product categories, particularly Pre-school and Dolls & Interactive, where the company saw significant increases in Paw Patrol, as well as sales of Wizarding World, Gabby’s Dollhouse and Purse Pets.

Gross Product Sales in Activities, Games & Puzzles and Plush increased by 9.9%, primarily driven by increases in Kinetic Sand, Gund and Rubik’s. Gross Product Sales in Wheels & Action increased by 14.8%, primarily driven by increases in DC licensed products, Monster Jam RC and Tech Deck, while Gross Product Sales in Outdoor increased by 31.1%, primarily driven by increases in SwimWays and Aerobie.

Max Rangel, Spin Master’s Global president and chief executive officer, commented: “We delivered very strong revenue growth for the fourth quarter and full year 2021, showcasing the power of our three creative centres comprising Toys, Entertainment and Digital Games. Toys’ Gross Product Sales grew over 20% in 2021, driven by the global success of our new and innovative brands and enthusiastic fandom for our licensed toy properties. Our commercial team deftly navigated a complex supply chain environment in the fourth quarter to ensure we delivered products throughout the holiday season in a timely fashion, providing the foundation to grow our share in key markets. Our Entertainment creative centre capitalized on momentum from our first-ever feature film for our leading pre-school franchise, Paw Patrol, to grow revenue over 73%. Our Digital Games creative centre generated impressive revenue growth of over 127% in 2021, with Toca Life World being recognized as the App Store’s 2021 iPhone App of the Year.”

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