Early-year toy industry growth has already been demonstrated in the last week by Hasbro and Jakks Pacific, and now Spin Master has the same kind of good-news story to tell. At market close yesterday, the Canadian toyco reported that its Q1 revenue had increased by 13.6% over the same period last year to hit US$359.3 million. 

The toy segment was a clear performance driver this quarter, generating US$273.3 million in global revenue, which is up by 20.9% from US$226.4 million in Q1 2024, thanks to higher shipment volumes for the company’s licensed toy lines. 

Digital game sales also grew by 3.9% to US$47.8 million, driven by new subscription growth for Piknik and PAW Patrol Academy. And Spin saw engagement and in-game purchases go up for social gaming platform Toca Boca World (pictured) this quarter. 

Entertainment was the only segment to report a loss, with revenue dropping by 13.7% from Q1 2024 to US$37.8 million, due to lower distribution sales. 

Looking ahead, the company has withdrawn its full-year guidance for this year as it continues to navigate tariff challenges in countries where it manufactures products. But previously, Spin’s global revenue for 2025 was forecast to increase by as much as 5% year over year.