Paw Patrol success fuels revenue growth for Spin Master in Q2 2016 - ToyNews

Paw Patrol success fuels revenue growth for Spin Master in Q2 2016

Revenue is up 40.5 per cent for the firm, as it maintains "positive momentum".
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Spin Master's Q2 2016 results have seen revenue jump to $179.4m, a 40.5 per cent increase on the $127.7m in Q2 2015.

The firm attributes the increase to successful movie lines, savvy acquisitions and the ongoing popularity of Paw Patrol.

"The second quarter of 2016 was another period of strong financial results for Spin Master, as we maintained the positive momentum we have demonstrated since our IPO," said Anton Rabie, chairman and co-chief executive officer of Spin Master.

"The quarter was highlighted by growth from the acquisition of Cardinal in late 2015, sales related to key movie licenses and the continuing strength of Paw Patrol.

"We continued to be active on the acquisition front, acquiring Toca Boca and Sago Mini, leaders in the mobile digital app space, during the quarter and Swimways Corporation, a leader in water and outdoor sports products, after the quarter. The acquisition of Swimways establishes Spin Master as a key player in the Outdoor and Sports Toys category - currently one of the largest and fastest growing categories in the US toy industry according to NPD."

Ronnen Harary, Spin Master's co-chief executive officer, added: "Looking forward, we're excited about the potential of Spin Master.

"With the acquisitions since our IPO of Cardinal, Etch A Sketch, EG Games, Toca Boca and Sago Mini and now Swimways, our product development team has multiple opportunities to do what we do best – innovate for the market.

"We're also excited about Rusty Rivets, our new pre-school TV show launching on Nickelodeon in August. As we move into the second half of 2016, Spin Master is well positioned for continued success."

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