The international toy maker, MGA Entertainment has signed a series of brand licensing deals with the mobile game developer Riva Technology and Entertainment to develop and publish a sweep of new titles based on the firm’s hit properties LOL Surprise and Rainbow High.
The move will see MGA Entertainment begin to tap into a global gaming market valued at $162.32 billion in 2020, and a mobile gaming industry that generated $13.2 billion in revenue in 2019. The global gaming market is tipped to reach $295.63 billion by 2026.
Riva Technology and Entertainment is a veteran in the gaming and IP business, having built gaming companies for over 20 years, along with securing and developing top licensing deals ranging from Hollywood, Bollywood, Sports and all the way to the world’s leading brands.
Meanwhile, MGA Entertainment’s LOL Surprise! is recognised as a global phenomenon, winning the Toy of the Year Award for three years. MGA’s newly launched Rainbow High debuted in 2020 and has already become a cultural phenomenon with a presence across product, content and integrated digital media.
“MGA boasts a diversified portfolio of leading brands, and it builds fantastic award-winning toys. Our vision of bridging the world of mobile gaming with consumer products and the toy culture is strongly aligned. I admire them for their consistent growth over the years and the incredible efforts they have accomplished, creating a universe that each of their collections represents,” said Riva Technology and Entertainment CEO and founder, Paul Roy.
“RTE always strive to associate with the biggest and the best and MGAE is certainly that. Details of the upcoming games will be announced soon.”
Isaac Larian, CEO and founder of MGA Entertainment, added: “We are delighted to partner with RTE who has a proven track record for working with the biggest IPs and delivering top quality results. Our digitally native fans want to experience our award-winning brands across all platforms and mobile gaming is a strategic focus for us in 2021 and beyond. It is MGA’s goal to expand both digital gaming and NFTs in a significant way.”