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Spin Master, a global children’s entertainment company recently made the acquisition of Nørdlight, a digital game studio based in Stockholm, Sweden. The acquisition supports Spin Master’s plans to grow revenue and penetration within digital gaming as well as leverage its proprietary intellectual property across all three creative centres: Toys, Entertainment and Digital Games.
“The pace of innovation within the children’s entertainment space is rapidly changing, and this acquisition is strategically aligned with our long-term target to grow our Digital Games creative centre to up to 20% of Spin Master’s total revenue,” said Max Rangel, Spin Master’s Global President and CEO. “Leveraging our expanding capabilities and roster of valuable intellectual property, we are well positioned to build engaging, evergreen digital games properties as gaming continues to permeate entertainment time for children.”
On its own, this is not a big deal and is part of the natural evolution of the Spin Master business – having revenue streams from physical and digital products. However, Profectio has also learned that Spin Master has hired several people from media buying/ planning agencies over the last 6 months.
Consumers are very used to ad-supported products, and online gaming is certainly no stranger to having an advertising component. If there is one thing businesses should have learned from the pandemic – a diversified business model is a must!
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