Gifts / Sports & Toys

With the announcement of Spin Master’s second-quarter results this morning, another toy company has joined the ranks of those experiencing a surge in revenue in the second quarter of 2021.

The Canadian-based toy manufacturer’s total revenue last quarter increased by 39% to 390.8 million Canadian dollars, up from 281.1 million Canadian dollars in the same period last year, driven by increased sales of preschool and girls’ and boys’ toys. Total product sales increased by 27.2%.

By market segmentation, total product sales in Europe increased by 23.7% over last year, North America increased by 23.7%, and the rest of the world market increased by 58.2%.

Max Rangel, Spin Master's global president and CEO, said: "Our strong financial results this quarter reflect our success in creating superior toys, entertainment and digital gaming experiences for children and their families."

"By leveraging this advantage of each creative center, we are distinguishing Spin Master in the children’s entertainment space. With an amazing lineup of toys, the growth of digital game series, and the release of the highly anticipated "Wow Team: Movie", we are following Prepared for half a year, this is our first foray into feature films.

"Looking forward, we focus on adapting to changing game dynamics through innovation, customer-oriented decision-making, partnerships, and continuous promotion of reimagining where imagination can take us, while achieving profitable growth for our shareholders. ."

Driven mainly by the preschool and girls and boys departments, Spin Master’s total product sales increased by 70.3 million U.S. dollars in the second quarter of 2021 to 352.9 million U.S. dollars. Due to increased sales of PAW Patrol and Gabby's Dollhouse and Present, preschool and girls increased their pets by 60%.

Activities, games and jigsaw puzzles and plush toys were reduced by $1.8 million. The main reason for the decline was the Games and Puzzles product portfolio, which was partially offset by the sales of Rubik's, Influencer, GUND and Orbeez.

Thanks to the sales of Bakugan, Tech Deck and Monster Jam RC, Boy’s total product sales increased by $23.6 million. This was partially offset by the decline of DreamWorks Dragons.

The outdoor products division decreased by $1.1 million.

In the first half of the year, Spin Master’s total revenue increased by 39.1% in the six months ended June 30, 2020. Total product sales increased by 129.2 million U.S. dollars to 653.7 million U.S. dollars.

Mark Segal, Spin Master's Chief Financial Officer, said: "Our financial and operational performance this quarter was very strong.

"Driven by the accelerated development of our digital game and entertainment creative center, our revenue trajectory continues to strengthen, which drives the expansion of profit margins, and we are improving our total revenue prospects this year.

"We remain committed to the financial framework for creating value, based on our innovation and global growth formulas in toys, entertainment and digital games."

The improvement in Mattel’s performance continues, and the company reported that its sales in the second quarter of this year increased by 40%. The reported operating income was US$49 million, an increase of US$97 million, and the adjusted operating income was US$67 million, an increase of US$94 million. Similarly, since the epidemic, Hasbro’s sales in the second quarter, as Mattel’s competitor, have increased by 54% to US$1.32 billion, surpassing the so-called “excellent quarter” with its consumer products division, Coastal Wizards, and digital games. The sectors have grown. In response to rising raw material prices, Hasbro announced a price increase for toys in the second half of the year. Compared with the second quarter of last year, revenue increased by 54%, and compared with the forecast for the second quarter of 2019 before the epidemic, it increased by 9%. The global toy manufacturer’s consumer goods division increased its revenue by 33%, while its Coastal Wizards and Digital Games division more than doubled its revenue.