Spin Master has announced its preliminary figures for revenue and sales for the last quarter of 2023 and the full year ahead of full financial results due at the end of the month.
The company said it was “pleased” with the figures, which showed that despite an overall decline in revenue for 2023, the final quarter was up year on year.
For 2023, revenue stood at $1,904.9 million, down 5.7% from the previous year. This was down to a fall in toy revenue, which was partly offset by an increase in entertainment and digital revenue.
In the final quarter, however, its revenue was up 7.9% to $502.6 million, with growth figures of almost 77% in entertainment, aided by new content such as Unicorn Academy, Vida the Vet and Rubble & Crew, as well as the ongoing money coming in from PAW Patrol: The Mighty Movie.
Toy revenue was up by 2.5%, driven by “higher order volumes” and digital games revenue also grew in the last three months of the year, up 7.1%
“We are very pleased with how our team navigated the challenging macroeconomic environment to deliver revenue growth in the 4th quarter”
Max Rangel, global president and CEO Spin Master
“We are very pleased with how our team navigated the challenging macroeconomic environment to deliver revenue growth in the 4th quarter,” said Max Rangel, global president and CEO. “We harnessed the strength of our three creative centres to meet our full-year revenue expectations. While our Toy revenue declined for the full year compared to 2022, our POS remained ahead of the industry2 and we grew market share globally, by introducing innovation into the toy aisle, engaging fans of popular franchises both licensed and owned, and growing our evergreen brands to create magical play experiences for millions of children globally. We saw strong increases in Entertainment from the PAW Patrol movie and the delivery of the Unicorn Academy series, and we grew Digital Games revenue, highlighting the power of our diversified portfolio to drive long-term growth.”
