Spin Master has announced its preliminary unaudited Revenue and Gross Product Sales for the three months and year ended December 31, 2021.
Revenue was $2,042.4 million, an increase of 30.0% from $1,570.6 million, driven by growth in Toys, Entertainment and Licensing and Digital Games.
Toy revenue increased by $316.2 million or 22.3% to $1,731.8 million, thanks to growth in all product categories, particularly Preschool and Dolls & Interactive.
Gross Product Sales in Preschool and Dolls & Interactive increased by $200.1 million or 32.8% to $809.6 million from $609.5 million, primarily driven by increases in PAW Patrol as well as sales of Wizarding World, Gabby’s Dollhouse and Purse Pets, offset in part by declines in Hatchimals and Twisty Petz.
Gross Product Sales in Activities, Games & Puzzles and Plush increased by $53.0 million or 9.9% to $587.8 million from $534.8 million, primarily driven by increases in Kinetic Sand and GUND as well as sales of Rubik’s, offset in part by the declines in Games & Puzzles portfolio.
“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,” says Max Rangel, Spin Master’s Global President and Chief Executive Officer. “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 capitalised on momentum from our first-ever feature film for our leading preschool 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 recognised as the App Store’s 2021 iPhone App of the Year.”