Canadian toymaker Spin Master has seen its boys’ action and construction segments grow an impressive 57.8 per cent to $57.9 million in its 2018 financials, thanks to its continued success with the How to Train Your Dragon and Monster Jam brands.
The segment growth arrived as part of a mixed bag of 2018 financial results for the company that while it saw revenue grow 5.2 per cent to $1.63 billion, saw net income fall 5.5 per cent to $154.9 million.
Spin Master’s gross product sales for fiscal 2018 grew 3.1 per cent to $1.71 billion with increases in Europe (2.2 per cent) and the rest of the world (19.5 per cent), but little growth in North America – just 0.2 per cent.
Meanwhile, its games, puzzles and plush segments each saw growth, but its interactive characters portfolio saw a sales drop of 14.8 per cent, due to declines in Hatchimals large eggs.
Despite the varying success and misses at the company, it was Spin Master’s boys’ action and high-tech construction segment that sang the success story of the year, having grown 57.8 per cent to $57.9 million. The toy firm has attributed this growth not only to brands such as its Boxer robot, Monster Jam and Bakugan IP, but also the continued success of the DreamWorks How To Train Your Dragon franchise.
Moving forward, Spin Master is looking to continue to the sales drive for the How to Train Your Dragon franchise with a bolstered line of new, innovative toys.
“The How to Train Your Dragon film trilogy has delivered some of the most beloved and successful animated films of the last decade, and the DreamWorks Dragons franchise has been a very strong license for us. We look forward to another successful year as global master toy partner,” Becca Hanlon, senior brand manager, Spin Master Toys UK, told ToyNews.
The latest release in the film franchise, How To Train Your Dragon: The Hidden World, opened in number one on 49 markets and was named the number one biggest animated title of Q1 2019.
Spin Master has turned to its own ability to innovate within the toy line, reflecting the movie’s action sequences in its line-up, in order to drive sales for the brand that held strong for the company in its 2018 sales.
Hanlon, added: “We have continued to focus on exciting innovation in the lines and Fire Breathing Toothless from the latest range this spring is a great example of that. It’s nothing fans have ever seen before and adds that ‘wow’ moment to imaginative play.
“It’s not going to stop there, wither. This autumn, we are launching the Hatching Dragon, combining the ground-breaking technology from Hatchimals to develop this product and give DreamWorks Dragons fans a truly unique experience.
“The new spring line is just the beginning for our DreamWorks Dragons toys this year. Dragons is an evergreen brand, and we will continue to develop innovative products that extend the storytelling, open up new ways to play and deepen fan engagement.”