Spin Master

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Spin Master Corp.
TypePublic
TSXTOY
IndustryToys and entertainment
FoundedMarch 26, 1994; 28 years ago (1994-03-26)
FoundersRonnen Harary
Anton Rabie
Ben Varadi
Headquarters225 King Street W., Suite 200
Toronto, Ontario, Canada
Area served
Worldwide
Key people
Ronnen Harary (co-founder)
Anton Rabie (co-founder)
Max Rangel (CEO, 2021–present)
Revenue$2.042 billion (2021)[1]
OwnersRonnen Harary
Anton Rabie
(98% voting power)
Number of employees
2,000+ (2021)[2]
DivisionsSpin Master Games
Spin Master Entertainment
Spin Master Digital Games
SubsidiariesSwimways Corporation[3]
Marbles[4]
Cardinal Industries
Editrice Giochi
Toca Boca[5]
Perplexus[6]
Gund[7]
WebsiteSpinmaster.com

Spin Master is a Canadian multinational toy and entertainment company that markets consumer products for children. Its brands include Bakugan, Gund,[7] Etch A Sketch, Meccano/ Erector, Air Hogs, PAW Patrol, Aquadoodle, Tech Deck, Hatchimals, Rubik's Cube, and Zoomer. Spin Master employs over 1,600 people globally with offices in Australia, Canada, China, France, Germany, Hong Kong, India, Italy, Japan, Mexico, the Netherlands, Poland, Slovakia, Sweden, the United Kingdom, the United States, and Vietnam.[8]

Since 2002, Spin Master has received 92 "Toy of The Year" (TOTY) nominations with 28 wins across a variety of product categories, including 13 TOTY nominations for "Innovative Toy of the Year", more than any other toy company.[9] In 2022, Spin Master won The Golden Screen Award for Feature Film, presented by the Academy of Canadian Cinema & Television, for PAW Patrol: The Movie.[10] The Golden Screen Award recognizes the Canadian film that grossed the highest domestic box office over the time period of Jan 1, 2021 to Feb 24, 2022. As of 2021, Chase the police pup and Marshall the firefighting pup, two characters from PAW Patrol, are the company's mascots.

History[edit]

Three college friends from the Ivey Business School at the University of Western Ontario - Ronnen Harary, Anton Rabie and Ben Varadi - founded Spin Master with $10,000 in Toronto in 1994.[11] The company's first product, Earth Buddies, were small heads made out of Kmart pantyhose and grass seeds, which grew "hair" when watered.[12] The Earth Buddy went on to sell over 26,000 units.

Spin Master's first major success came in 1998 with the launch of the Air Hogs brand and its first item, the Sky Shark. Developed from the prototype provided by inventors John Dixon and Peter Manning, the Sky Shark was a foam plane that used compressed air to enable outdoor flight. Product development took over two years and more than $500,000,[13] but ended up generating $103 million in revenue over the next few years. The Sky Shark put Spin Master on the map, becoming one of the most popular toys in the world and earning them a slot on daytime television Regis and Kathie Lee alongside other international press.[14]

The company, which had grown to 28 employees by 1999, told the LA Times they were already “assessing 1,000 inventions a year.” They’d moved their manufacturing supply chain to Hong Kong in 1998 and were ready to rise as a new name in the toy industry.

The company scored another success in 1999, with Flix Trix Finger Bikes, a string of 1/2 inch replicas of BMX bikes. In 2003, the company made its first corporate acquisition buying Bounce ‘Round, a company that created scaled down versions of the inflatable bouncy castles. Over the next handful of years, Spin Master opened offices in the United States, Japan and Western Europe.

In 2008, Spin Master launched the Bakugan Battle Brawlers franchise, a card game developed in conjunction with Sega Toys, featured plastic balls which burst open to reveal anime-style characters. Bakugan reached almost $1 billion in yearly sales.[15]

Under Harary's leadership, Spin Master Entertainment launched with Bakugan Battle Brawlers the animated action adventure television series under the direction of Mitsuo Hashimoto. To date, Spin Master Entertainment has developed six television series with over 400 cumulative episodes.[16] In 2019, Abby Hatcher, an animated preschool series debuted on Nickelodeon on January 1, 2019, in the U.S.[17] The show centers on Abby and her new friends the Fuzzlies, who are amazing and quirky creatures that live in her family's hotel. Together with her best Fuzzly friend Bozzly, Abby goes on wild adventures to fix Fuzzly mishaps and help them in any way she can.[17] In 2020, Spin Master launched its first direct to Netflix series, Mighty Express. The show follows a team of trains and their kid best-buddies as they keep things moving and get the delivery through no matter what the trouble -one thrilling adventure after another.

In August 2013, Spin Master acquired the Erector Set by Meccano construction set line.[18] In June 2015, Spin Master entered into an agreement to acquire Cardinal Industries, a 60-year-old game and puzzles company. The purchase made Spin Master the second largest games company in the United States. A month after announcing it was buying Cardinal, Spin Master made its initial public offering on the Toronto Stock Exchange.[14]

In January 2016 Spin Master purchased the library of board games owned by Editrice Giochi SRL, one of the oldest privately held toy game companies in Italy. In February 2016, Spin Master bought the Etch A Sketch and Doodle Sketch brands from The Ohio Art Company for an undisclosed price. In April 2016, Spin Master purchased digital toy makers Toca Boca and Sago Mini from the Bonnier Group of Sweden. In August 2016 Spin Master diversified into the water and outdoor sports category through the acquisition of Swimways corporation.[14]

In 2017, Spin Master acquired Marbles, a firm known for creating games, gifts and gadgets and the maker of Otrio; Aerobie, a leading producer of outdoor flying disks and sports toys; and Perplexus, a 3D ball-in-a-maze Spin Master had been distributing since 2013.[14]

In March 2018, Spin Master acquired the 120 year old stuffed toy brand Gund.[19] Spin Master is now a $1.5 billion (sales) company, which employs over 1,600 people in 16 countries.[20] At the end of 2019, Spin Master completed the acquisition of the award-winning Orbeez brand from Maya Toys, complementing its growing Activities segment.[21]

In February 2020, Spin Master announced the theatrical release of the PAW Patrol movie, a Spin Master Entertainment production in association with Nickelodeon Movies and distributed by Paramount Pictures.[22] PAW Patrol: The Movie released in theatres on August 20, 2021, grossing $142 million worldwide.[23] Following the success of its first theatrical film for the franchise, Spin Master announced that production had begun on a sequel, PAW Patrol: The Mighty Movie slated to release on October 13, 2023.[24] On 27 October 2020, Spin Master said it will pay $50 million for Rubik's Cube, the iconic game invented nearly 50 years ago.[25] The acquisition was completed on 5 January 2021.[26] At the end of 2020, Spin Master announced executive leadership changes appointing Max Rangel as Global President effective January 2021, assuming the position of Global President and CEO in April 2021.[27]

In 2021, Spin Master launched the Future of Play Scholarship committing to invest $100,000 in financial aid annually to the education and mentorship of underrepresented individuals.[28] On October 19, 2021, Spin Master established Spin Master Ventures, a $100 million venture fund to back up games, toys and entertainment startups with investments made in Nordlight, a game development company in Stockholm and Hoot Reading, an online tutoring service that provides reading lessons to children.[29] By the end of 2021, Spin Master had grown to a global children's entertainment company, employing over 2,000 people in 28 offices around the world.[30]

Spin Master toys[edit]

Spin Master Games[edit]

Spin Master Games is the board game division of the company. Spin Master also owns Cardinal Industries, Marbles [31] and Editrice Giochi board and card game publishers. Spin Master Games publishes titles such as:

  • Boom Boom Balloon – Winner of 2014 "Game of the Year" from the Toy Industry Association [32] Push sticks from an outside frame into a balloon until it pops. The loser is determined by who pops the balloon.[33]
  • Quick Cups – A fast-paced pattern game. A card is flipped over; the player's job is to match the colored pattern with 5 colored cups as quickly as possible.[34]
  • Hedbanz – An interactive game where players try to guess the card on their head by asking yes–no questions. Variations include Act Up with charades-style play, Disney Hedbanz with licensed Disney characters included, and Hedbanz for Adults - a more difficult version of Hedbanz.[35]
  • PAW Patrol Adventure Game – A preschool game based on licensed Paw Patrol characters.[36]
  • Perplexus – A one player 3D labyrinth inside a clear sphere.[37]
  • Beat the Parents – A kids v. parents trivia game in which teams answer questions about the opposite generation. Available in board game and card game versions.[38]
  • Quelf – A completely random game where players pick cards and follow them to move ahead. The cards range from answering crazy questions to performing ridiculous stunts.[39]
  • Battle of the Sexes – A male vs. female trivia game in which teams answer gender-defining questions about the opposite sex.[40]
  • Heads Up! – A party game where players try to guess as many words on their heads as they can before a minute runs out. Other players assist by shouting clues to help the player score as many cards as possible.[41]
  • Soggy Doggy - Winner of 2018 “Game of the Year” from the Toy Industry Association.[42] Players move around the board and take turns bathing the pup. The first player to make it around the board without getting wet wins.[43]
  • Upwords - A high-stacking word game where players place tile letters onto the game board to create new words.[44]
  • Bellz! - A strategy game where players must pick up their corresponding bell colors using a magnetic wand.[45]
  • H5 Domino Creations - Designed in collaboration with domino artist Lily Hevesh. The set includes 100 dominoes.[46]
  • Santorini - A strategic family board game where players build, block and climb their way to the top of a building.[47]
  • Disney Sidekicks - A cooperative strategy game where players work together as Disney themed sidekicks to defeat the Disney villains and save the heroes.[48]
  • Tell Me Without Telling Me - A party game for adults where teams must beat each other to be the fastest to guess the words on the cards.[49]

Spin Master Entertainment[edit]

Alongside the company's toy and board game businesses, they are the company behind several successful kids' media franchises:

Television[edit]

Upcoming[edit]

Movies[edit]

Upcoming[edit]

Spin Master Digital Games[edit]

In 2012, Spin Master launched its first digital gaming app for Tech Deck.[51] Other successful apps connected to the company's entertainment and toy Intellectual properties followed and, in 2016, Spin Master expanded its offering in the digital space with the acquisition of global mobile and digital app brands Toca Boca and Sago Mini.[52] Spin Master Digital Games' most popular titles include:

  • Toca Life: World - The iPhone App of the Year in 2021;[53] a free virtual world app that combines the apps from the "Toca Life" series into one and allows children to "enjoy open-ended imaginative digital play."[54]
  • Sago Mini World - A subscription app containing over 35 games designed for users aged 2–6 years, including features based on building and creating with imagination and curiosity.[55]
  • Sago Mini School - A preschool-targeted app that attempts to help young children build maths, literacy, science and spacial skills through learning games.[56]

References[edit]

  1. ^ "Spin Master Reports Preliminary 2021 and Q4 2021 Revenue" (Press release). Toronto: Spin Master. February 1, 2022. Retrieved February 11, 2022 – via PR Newswire.
  2. ^ "Spin Master Reports Preliminary 2021 and Q4 2021 Revenue" (Press release). February 1, 2022.
  3. ^ "Swimways International".
  4. ^ Zumbach, Lauren (May 1, 2017). "Hatchimal maker buys Marbles: The Brain Store". The Chicago Tribune. Retrieved February 12, 2018.
  5. ^ "Toca Boca moves into consumer products". Kidscreen. July 10, 2017. Retrieved February 12, 2018. Toca Boca’s move also falls in line with subsidiary Sago Mini (which was also part of Spin Master’s acquisition last April).
  6. ^ "Spin Master grows games segment with Perplexus buy".
  7. ^ a b "Spin Master revenue increases 30% in latest quarter, profits significantly up". Financial Post. The Canadian Press. March 7, 2018.
  8. ^ "Spin Master Corp. to Report First Quarter 2018 Financial Results on May 8th, 2018" (Press release). April 4, 2018.
  9. ^ http://www.toyawards.org
  10. ^ eG, Spielwarenmesse. "Spin Master Entertainment brings home The Golden Screen Award for PAW Patrol: The Movie". www.spielwarenmesse.de. Retrieved 2022-04-26.
  11. ^ RACHEL BECK (March 24, 1999). "Spin Master Toys Soars to Success With Air Hogs". The Los Angeles Times. Associated Press. It's been a wild ride for Spin Master, a young Toronto-based company that was founded by three entrepreneurial friends: the high-strung, creative 28-year-old Varadi, the more serious salesman Anton Rabie and long-term visionary Ronnen Harary, who are both 27. The company was founded in 1994.
  12. ^ Owram, Kristine (April 30, 2018). "How Spin Master has defied the odds to transform into a $5.3-billion toy powerhouse | Financial Post". Financial Post. Retrieved April 30, 2020.
  13. ^ Calleja, Dawn (March 25, 2017). "How Spin Master got its mojo back". The Globe and Mail. Retrieved February 12, 2018.
  14. ^ a b c d Andrew Seale (March 6, 2018). "The secrets to Spin Master's success? Acquisition and innovation". Yahoo Finance Canada.
  15. ^ Hollie Shaw (December 21, 2012). "Spin Master joins digital gaming ranks". Financial Post. Retrieved February 12, 2018.
  16. ^ "On a roll: PAW Patrol's surprising Newfoundland connection". CBC News. March 11, 2018. Retrieved October 3, 2018.
  17. ^ a b "Nickelodeon Unveils Content Pipeline of More Than 800 New Episodes, Details Expansion into Location-Based and VR Experiences". Business Wire. New York. March 6, 2018.
  18. ^ Strauss, Marina (August 13, 2013). "Spin Master acquires iconic Meccano in bid to take on Lego". The Globe and Mail. Retrieved October 3, 2018.
  19. ^ "Spin Master buys stuffed toy brand Gund in $79.1-million deal". The Globe and Mail. Toronto. March 5, 2018. Retrieved October 3, 2018.
  20. ^ "Spin Master's PAW Patrol wins an award from Tmall, the online marketplace of the Alibaba Group" (Press release). Toronto: Spin Master. April 10, 2018. Retrieved October 3, 2018 – via Cision.
  21. ^ "Spin Master Acquires Award-Winning Orbeez from Maya Toys" (Press release). Toronto: Spin Master. December 6, 2019. Retrieved February 11, 2022 – via Cision.
  22. ^ "Paw Patrol Animated Motion Picture from Spin Master and Nickelodeon Movies, with Paramount Pictures Distributing, Set for August 2021 Release" (Press release). Toronto: Spin Master. February 21, 2020. Retrieved February 11, 2022 – via Cision.
  23. ^ Tartaglione, Nance (27 January 2022). "'Paw Patrol: The Movie' Collars Milestone As Pups Pass $100M At International Box Office". Deadline.
  24. ^ D'Alessandro, Anthony (3 November 2021). "'PAW Patrol: The Mighty Movie' Sequel Gets Greeenlight For Theatrical Release Via Paramount; TV Spinoff Also Set". Deadline.
  25. ^ Evans, Pete (27 October 2020). "Canadian company that owns classic toys Etch A Sketch and Aerobie buys Rubik's Cube for $50M". CBC News.
  26. ^ Feinstein, Clarrie (5 January 2021). "Canadian toy company acquires Rubik's Cube for US $50 million". dailyhive.com.
  27. ^ "Spin Master Announces Executive Leadership Changes; Max Rangel Named CEO" (Press release). Toronto: Spin Master. December 14, 2020. Retrieved February 11, 2022 – via Licensing International.
  28. ^ Zahn, James (10 June 2021). "SPIN MASTER LOOKS AHEAD TO THE 'FUTURE OF PLAY' WITH NEW SCHOLARSHIP PROGRAM". toybook.com.
  29. ^ Bloom, David (19 October 2021). "Spin Master Spins Up $100 Million Venture Fund To Back Games, Toys, Entertainment Startups". forbes.com.
  30. ^ "Spin Master Makes a Splash With New Mermaid High Fashion Dolls and Content Series" (Press release). Toronto: Spin Master. October 20, 2021. Retrieved February 11, 2022 – via Cision.
  31. ^ "Spin Master Announces Acquisition of Marbles and Continued Growth of Games Portfolio" (Press release). Toronto: Spin Master. May 1, 2012. Retrieved February 11, 2022 – via Cision.
  32. ^ "2014 TOTY Winners".
  33. ^ http://www.spinmaster.com/product_detail.php?pid=p10438
  34. ^ http://www.spinmaster.com/product_detail.php?pid=p10444
  35. ^ http://www.spinmaster.com/product_detail.php?pid=p10421
  36. ^ http://www.spinmaster.com/product_detail.php?pid=p20228
  37. ^ http://www.spinmaster.com/brand.php?brand=cat_perplexus&gender=&age=&pageSize=0&pageNo=1
  38. ^ http://www.spinmaster.com/brand.php?brand=cat_beat_the_parents&gender=&age=&pageSize=0&pageNo=1
  39. ^ http://www.spinmaster.com/product_detail.php?pid=p10390
  40. ^ http://www.spinmaster.com/product_detail.php?pid=p10423
  41. ^ http://www.spinmaster.com/product_detail.php?pid=p20232&bid=cat_spinmaster_games
  42. ^ "2018 Toy of the Year (TOTY) Award Finalists Unveiled by The Toy Association".
  43. ^ "Double the Kids, Double the Fun! 36 of the Best Toys For Twins". MSN.
  44. ^ "Upwords". Board Game Geek.
  45. ^ "Bellz! from Spin Master". YouTube.
  46. ^ Post, Timothy Bella, The Washington. "She started posting videos of domino art at age 10. At 1 billion views, she is the 'queen' of dominoes". inquirer.com.
  47. ^ "Santorini (2016)". Board Game Geek.
  48. ^ "Disney Sidekicks". Board Game Geek.
  49. ^ "A Popular TikTok Trend Just Became a New Card Game". Apartment Therapy.
  50. ^ Del Rosario, Alexandra (April 20, 2022). "'Sago Mini Friends': Apple TV+ Orders Spin Master Animated Series Based On Children's App". Deadline Hollywood. Retrieved April 20, 2022.
  51. ^ "Tech Deck Skateboarding". App Store.
  52. ^ "Spin Master acquires Toca Boca and Sago Mini from the Bonnier Group" (Press release). Toronto: Spin Master. May 1, 2016. Retrieved February 11, 2022 – via Torkin Manes.
  53. ^ Cason, Joe (8 December 2021). "Why Apple Named Toca Life World the Best iPhone App of 2021". makeuseof.com.
  54. ^ "Toca Life: World – Parents' Choice". www.parentschoice.org.
  55. ^ "Sago Mini World". www.academicschoice.com.
  56. ^ Malik, Aisha (16 April 2020). "Toronto-developed 'Sago Mini School' helps kids learn vital skills from home". mobilesyrup.com.