It’s officially official: 2021 was an excellent year for Spin Master.
Following the unofficial reporting of its preliminary fourth quarter and full-year earnings for 2021 earlier this month, Spin Master confirmed their accuracy after the closing bell today. Since Spin Master’s formal reporting schedule generally falls later than the other publicly-traded toy companies that report in “toy fair season,” the company offers an early sneak peek at its numbers to “provide context for Spin Master’s performance in line with the timing of financial results for the broader industry.”
“We delivered very impressive growth in 2021 across all our three creative centers and furthered our commitment to creating magical play experiences for children and their families through innovative toys, engaging entertainment, and creative digital games,” says Spin Master’s Global President and CEO Max Rangel. “We have built a solid foundation for continued long-term growth and as we enter 2022, we are focused on further developing the full potential of toys, entertainment, and digital games, with a greater focus on customer centricity, driving innovation, building evergreen entertainment franchises and digital games, growing our international markets, and optimizing our operating platform to continue to create value for our shareholders.”
Echoing the preliminary numbers, Spin Master’s gross product sales for toys spiked 20% for the year. Revenue hit $2.04 billion, a 30% increase that the company attributes to growth in toys, entertainment and licensing, and digital games. Toy revenue grew 22.3% for the year.
