Spin Master has been named worldwide master toy licensee for motorsport racing franchise Monster Jam, it has been announced.
The toymaker signed the decade-long agreement with Feld Entertainment and will now produce toys and collectables for the worldwide market.
Monster Jam produces over 400 events each year across five continents to millions of families in attendance. Its broadcasts of live events reach millions on the FOX Sports family of networks in addition to their digital reach. The Monster Jam franchise includes a wide range of toys and products featuring well known, larger-than-life intellectual property like: Grave Digger, Max-D, Megalodon, Monster Mutt and El Toro Loco.
"Monster Jam is a compelling global brand led by an extraordinarily talented group of individuals," said Ronnen Harary, Spin Master's co-chief executive officer. "We are very excited about our long-term partnership and welcome the Monster Jam brand into the Spin Master portfolio with exciting product offerings that stimulate play beyond the performances their fans know and love."
The Monster Jam portfolio includes a wide range of toys and products to create extended play opportunities for kids that will continue to grow with the support of Spin Master's global research and development network and innovative marketing.
"Spin Master has been built on the success of our strategic partnerships, and we seek to combine our strength in innovation with Monster Jam's larger than life experiences," said Ben Gadbois, Spin Master's global president and COO. "Feld Entertainment is a true leader in bringing experiences to life that capture the imagination of kids globally. As we continue to diversify our product offering, this long-term Monster Jam licensing partnership will provide us a significant recurring revenue base, which we will use as a catalyst for innovation in the die-cast and vehicles categories and to continue to grow internationally."