Spin Master

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Spin Master
Public company
Traded asTSXTOY
IndustryToys
Entertainment
GenreChildren's entertainment
Founded1994; 26 years ago (1994)
FoundersRonnen Harary
Anton Rabie
Ben Varadi
Headquarters,
Area served
Global
Key people
Ronnen Harary (CEO)
Anton Rabie (CEO)
Revenue$1.553 billion (2017)[1]
OwnerRonnen Harary
Anton Rabie
(98% voting power)
Number of employees
1,600 (2018)[2]
DivisionsSpin Master Games
Spin Master Entertainment
Spin Master Outdoors
Spin Master International
Other Multi-Categories
SubsidiariesSwimways Corporation[3]
Marbles[4]
Cardinal Industries
Editrice Giochi
Toca Boca[5]
Perplexus[6]
Gund[7]
WebsiteSpinmaster.com

Spin Master is a Canadian global toy and entertainment company marketing consumer products for children. Its brands include Bakugan, Gund,[7] Etch A Sketch, Erector Set by Meccano, Air Hogs, PAW Patrol, Aquadoodle, Tech Deck, Hatchimals and Zoomer.[8] Spin Master employs over 1,600 people globally with offices in Canada, United States, Mexico, France, Italy, United Kingdom, Slovakia, Poland, Germany, Sweden, the Netherlands, China, Hong Kong, Japan, Vietnam, and Australia.[2]

Since 2002, Spin Master has received 92 TIA 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]

History[edit]

Three college friends from Western Ivey Business School, Ronnen Harary, Anton Rabie and Ben Varadi, founded Spin Master with $10,000 in Toronto in 1994.[10] The company's first product, Earth Buddies, was a small head made out of Kmart pantyhoses and grass seeds, which grew "hair" when watered.[11] 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,[12] 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.[13]

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 U.S., 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.[14]

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.[15] Abby Hatcher, Fuzzly Catcher, Spin Master's newest animated preschool series debut on Nickelodeon on January 2019 in the U.S.[16] 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.[16]

In August 2013, Spin Master acquired the Erector Set by Meccano construction set line.[17] 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 U.S. A month after announcing it was buying Cardinal, Spin Master made its initial public offering on the Toronto Stock Exchange.[13]

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.[13]

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.[13]

In March 2018, Spin Master acquired the 120 year old stuffed toy brand Gund.[18] Spin Master is now a $1.5 billion (sales) company, which employs over 1,600 people in 16 countries.[19]

Spin Master Toys[edit]

Lines/Waves[edit]

NASCAR Collectibles and Controversy[edit]

In late 2011, Spin Master released a series of NASCAR Toys including replica 1/64th scale cars, haulers, pull back cars, remote control cars, and Bashers. This marks the return of NASCAR in the retail toy aisles since late 2010 when Action pulled the plug. In late 2015, Spin Master stopped making the diecast and Lionel started making some of their diecast in NASCAR authentics due to a wave 3 issues in their 2015 line of Nascar's where a Jeff Gordon diecast had alcoholic logos and had to be recalled, sparking the controversy and ultimately Spin Master to stop producing Nascar Diecast

Spin Master Games[edit]

Spin Master Games is the board game division of the company. Spin Master also owns Cardinal Industries 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 [20] Push sticks from an outside frame into a balloon until it pops. The loser is determined by who pops the balloon.[21]
  • Pop Stream – A movie trivia game integrating hundreds of movie clips. It is unlike Scene It because there is a head to head team aspect with wagering points and a game show like feel to it. Played with a smart tablet.[22]
  • RapiDoodle – A game where players doodle 4 images on pre-selected shapes trying not to match anyone else playing, under 1 minute.[23]
  • 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.[24]
  • Hedbanz – An interactive game where players try to guess the card on their head by asking yes/no questions. Variations include Act Up - charades style play, Disney Hedbanz – licensed Disney Characters included, and Hedbanz for Adults - a more difficult version of Hedbanz.[25]
  • The Logo Board Game – A family board game that tests players knowledge of logos in various ways.[26]
  • Paw Patrol Adventure Game – A preschool game based on licensed Paw Patrol characters.[27]
  • Perplexus – A one player 3D labyrinth inside a clear sphere.[28]
  • Moustache Smash – An interactive game where players hold a plastic moustache up to their face until a card appears showing their shape or color. When that happens, the first to smash their moustache on the card wins it.[29]
  • 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.[30]
  • 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.[31]
  • Family Challenge – A family game where players compete in 4 categories of challenges: Vision, Agility, Smarts, and Luck in order to see which team is the ultimate winners. Over 100 challenges included.[32]
  • Battle of the Sexes – A male v. female trivia game in which teams answer gender-defining questions about the opposite sex.[33]
  • 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.[34]
  • Shark Mania – where players compete against opponents to collect the most treasure while avoiding the shark perpetually destroying the path behind them.[35]

References[edit]

  1. ^ "Spin Master Reports Strong Q4 and Full Year 2017 Financial Results" (Press release). Toronto: Spin Master. March 7, 2018. Retrieved October 3, 2018 – via PR Newswire.
  2. ^ a b "Spin Master Corp. to Report First Quarter 2018 Financial Results on May 8th, 2018" (Press release). April 4, 2018.
  3. ^ http://www.swimways.com/swimways.aspx
  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. ^ http://kidscreen.com/2017/12/04/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. ^ http://www.toyawards.org/Events2/TOTY_Awards/2016_TOTY_Winners.aspx
  9. ^ http://www.toyawards.org
  10. ^ 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.
  11. ^ News; Marketing, Retail & (2018-04-30). "How Spin Master has defied the odds to transform into a $5.3-billion toy powerhouse | Financial Post". Retrieved 2020-04-30.
  12. ^ Calleja, Dawn (March 25, 2017). "How Spin Master got its mojo back". The Globe and Mail. Retrieved February 12, 2018.
  13. ^ a b c d Andrew Seale (March 6, 2018). "The secrets to Spin Master's success? Acquisition and innovation". Yahoo Finance Canada.
  14. ^ Hollie Shaw (December 21, 2012). "Spin Master joins digital gaming ranks". Financial Post. Retrieved February 12, 2018.
  15. ^ "On a roll: PAW Patrol's surprising Newfoundland connection". CBC News. March 11, 2018. Retrieved October 3, 2018.
  16. ^ 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.
  17. ^ Strauss, Marina (August 13, 2013). "Spin Master acquires iconic Meccano in bid to take on Lego". The Globe and Mail. Retrieved October 3, 2018.
  18. ^ "Spin Master buys stuffed toy brand Gund in $79.1-million deal". The Globe and Mail. Toronto. March 5, 2018. Retrieved October 3, 2018.
  19. ^ "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.
  20. ^ http://www.toyassociation.org/Events2/TOTY_Awards/2014_TOTY_Winners.aspx#.VSVDD_nF9Fo
  21. ^ http://www.spinmaster.com/product_detail.php?pid=p10438
  22. ^ http://www.spinmaster.com/product_detail.php?pid=p10442
  23. ^ http://www.spinmaster.com/product_detail.php?pid=p10443
  24. ^ http://www.spinmaster.com/product_detail.php?pid=p10444
  25. ^ http://www.spinmaster.com/product_detail.php?pid=p10421
  26. ^ http://www.spinmaster.com/product_detail.php?pid=p10424
  27. ^ http://www.spinmaster.com/product_detail.php?pid=p20228
  28. ^ http://www.spinmaster.com/brand.php?brand=cat_perplexus&gender=&age=&pageSize=0&pageNo=1
  29. ^ http://www.spinmaster.com/product_detail.php?pid=p20222
  30. ^ http://www.spinmaster.com/brand.php?brand=cat_beat_the_parents&gender=&age=&pageSize=0&pageNo=1
  31. ^ http://www.spinmaster.com/product_detail.php?pid=p10390
  32. ^ http://www.spinmaster.com/product_detail.php?pid=p20225
  33. ^ http://www.spinmaster.com/product_detail.php?pid=p10423
  34. ^ http://www.spinmaster.com/product_detail.php?pid=p20232&bid=cat_spinmaster_games
  35. ^ http://www.spinmaster.com/product_detail.php?pid=p20223