The Toy Book catches up with Vice President of Marketing and Global Business Unit Lead, Boys Adam Hyman about Spin Master’s expanded partnership with Feld Entertainment Inc. as master toy licensee for Supercross.
Toy Book: What are some of the criteria for how Spin Master chooses its licensing partners? How does the Supercross license fit in with the company’s key growth strategies?
Adam Hyman: Spin Master wants to work with the best of the best on long-term, evergreen licenses. We like to work with companies we can truly partner with, and our relationship with Feld Entertainment is a perfect example of this. This five-year licensing agreement with Supercross expands on our current relationship with Feld’s Monster Jam brand. This new agreement with Supercross delivers on a number of Spin Master’s key growth strategies, including expanding global sales and innovating across our portfolio by winning new licenses. It also represents an expanding presence for us in the wheels category.
TB: Spin Master already has a successful Monster Jam line under license with Feld Entertainment. What have you learned from creating and marketing Monster Jam items that carried over into product development for Supercross toys?
AH: Our re-envisioned Monster Jam toy line launched in January 2019 and has outpaced sales expectations, receiving global praise from kids and fans. Along the way we have learned a lot about attention to every detail and the voice of the collectors in the community that we truly value. It’s [about] finding the balance of creating fun products that kids will love and can help them recreate the excitement of the live show at home, while also being something collectors are proud to display.
TB: What Supercross products will be available this spring? How will these items enhance the way fans interact with the brand?
AH: In the spring, we will launch two items: 1:24 Die Cast Bikes with Rider and 1:10 Collector Scale Bikes. Our 1:24-scale bike and riders will come with real bike manufacturer and rider details, as well as a truly innovative Race Ring to help kids be able to do tricks and races with multiple bikes at once. The 1:10 scale will be super fun to play with while also [having] all the amazing detail we have shown we are able to provide in our Monster Jam 1:24 scale trucks.
TB: What innovations or new technology did you have to come up with to design toys that are based on motorcycle racing and two-wheel play?
AH: We have made two big additions to the line: an articulated Race Ring and the authentic manufacturer and rider details that cannot be compared. Keep in mind this is only the first wave of product! We have some amazing product innovation and new price points in the pipeline – but I can’t talk about those just yet.
TB: What differences do you have to consider in creating R/C toys based on an existing brand versus an unlicensed line?
AH: The biggest thing we take into consideration is being authentic to the brand and license. We always want to make sure the product we make ties into the core values of our partners and that we match our expertise in innovation and marketing to amplify their strengths.
TB: What advice would you give to other toy companies who are creating new products and marketing strategies during the COVID-19 era?
AH: For Spin Master, it’s about continuous innovation, attention to detail, and reimagining play experiences. We never veer from those core values and it is what drives our product success. Together with our marketing teams, we deliver what’s new and fresh to existing fans and new consumers.
COVID-19 has caused global disruption, but focusing on values combined with strategic marketing plans and continuous support for retail partners is my best advice. Kids and their parents continue to look for ways to be entertained and have new play experiences at home.
We can’t wait for spring [when we can] unveil the Supercross lineup that’s going to create extended play opportunities for kids and fans of the brand.