How is the supply chain crunch affecting you? (2) Our mobile games division got a lift, which is Sago Mini and Toca Boca. So we saw a big uplift in our games business-chess, checkers and games like Hedbanz.
People were spending more time at home and not spending money on experiential activities. (1) There was a shift in discretionary spending. We’ve been in the midst of a global pandemic for about two years. Harary spoke to us from his apartment in Tel Aviv. You see, when it comes to mining the possibilities of toys and games, the company’s co-founder and chair isn’t playing around. That’s why Harary is focused on guiding Spin Master toward the area of its greatest growth potential-digital games-and why it recently launched Spin Master Ventures, to seed (if you’ll forgive another Earth Buddy reference) more innovation. Of course, a billionaire in motion usually stays in motion, and a toy company needs a constant stream of new products. With net income declining steadily since 2017 and supply chains disrupted by COVID-19, co-CEOs Ronnen Harary and Anton Rabie vacated the C-suite earlier this year. Not that it’s been all fun and games for Spin Master.
It owns a 3.9% share of the world’s toy market, and now, thanks to a hit movie and a cache of popular digital properties, it has commandeered the screens of millions of preschoolers. Launched 27 years ago on the back of a sock head stuffed with sawdust and grass seeds-pause here and try to imagine a humbler beginning than Spin Master’s first product, Earth Buddy-Canada’s whizbangiest children’s entertainment company has become a global powerhouse.