Tag Archives: COVID-19

Spin Master updates financial outlook for 2020 following coronavirus pandemic

Posted on by

The global entertainment company, Spin Master – the home of brands including the popular PAW Patrol and Bakugan franchise – is to withdraw its 2020 outlook in connection to projected product sales, stating that the potential impact of the developing COVID-19 situation on the firm is as yet unquantifiable.

The firm previously provided a 2020 outlook on March 4th this year, but, as the global coronavirus pandemic continues to deepen, will issue no further guidance in the near term due to the uncertainty surrounding it.

It is anticipated that the spread of COVID-19 and global measures to contain it, will have an impact on the company, however it is challenging to quantify the potential magnitude of such impact at this time. Spin Master is regularly assessing the situation and remains in contact with its customers and suppliers to assess any impacts and risks. It will provide a further update when it reports Q1 2020 results on May 6, 2020.

The 2020 outlook provided by Spin Master on March 4, 2020 reflected the information available to the Company at that time. This information included factory capacity in China, Vietnam and India, labour return rates, tooling availability, raw material and component availability, the ability to shift production between various geographies and products and customer acceptance of modified delivery dates.

Since that time, production levels have increased significantly and are approaching normal levels. However, due to the current market disruptions and heightened uncertainty caused by the spread of COVID-19 in global customer markets, the company is withdrawing such guidance.

“Since early March we have seen a substantial improvement in our Asian supply chain, particularly in China, as expected. However, the disruption we are now seeing in key customer markets resulting from the impact of COVID-19 is significant and we are withdrawing our fiscal 2020 guidance statement as a result thereof,” said Mark Segal, Spin Master’s executive vice president and chief financial officer.

“Our balance sheet remains strong, with cash on hand and committed credit lines available, which provides us with significant financial flexibility. Spin Master is known for its resiliency and entrepreneurial spirit. We believe in our ability to withstand any issues and continue to succeed.”

Has Nintendo cracked the next big gaming IP amid the Coronavirus pandemic?

Posted on by

Animal Crossing: New Horizons has become the fastest-selling single title on Nintendo’s Switch to date, selling more copies in its first week of sale than the combined launch sales of all previous Animal Crossing games in the franchise.

Reports are already coming in that the title is ‘3.5 times bigger than the last game in the series, 2013’s Animal Crossing: New Leaf on Nintendo 3DS.’ The title was previously the biggest launch for Nintendo’s franchise.

Animal Crossing: New Horizons is a non-linear life simulation game played in real-time. Each player assumes the role of a customisable character who moves to a deserted island. The open world game then allows players to explore the island as it develops into a community of animals.

Not only is the game one solution to maintaining communication and world-exploration social distancing, but also carries the potential to be one of Nintendo’s next big franchises. Video games analysts already expect New Horizons to be shipping over 12 million games in the next few months, and that is not accounting for digital downloads.

Benji Sales, an independent video game analyst, wrote on Twitter:

“Animal Crossing New Leaf was the previous best-selling Animal Crossing game, hitting over 12 million sold lifetime. Whatever your optimistic sales expectations for Animal Crossing New Horizons launch sales were, I can already tell you it’s too low. Holy hell, HUGE opening incoming.”

Digital download numbers – which Nintendo does not share externally – are tipped to be vast, particularly considering the concerns around the COVID-19 virus that has seen the UK Government recommend self isolation measures across the country.

Brand & Lifestyle Licensing Awards 2020 moved to June date

Posted on by

The Brand & Lifestyle Licensing Awards 2020 will be moving  from its planned date in April to mid June following the escalating events surrounding the COVID-19 Coronavirus.

The B&LLAs, established to reward excellence across the brand and lifestyle licensing industry, will take place on Thursday, June 18th at its home at the Hilton Park Lane in its traditional lunchtime slot.

Ian Hyder, joint MD of Max Publishing which owns and organises the B&LLAs, commented: “Due to the escalating events, in the UK, Europe and internationally, regarding COVID-19 Coronavirus, our priority is to safeguard our colleagues, friends, staff and supporters, so we have taken the decision to move the B&LLAs 2020 to this new date.

“We would like to thank our amazing sponsors for their full support in this decision and look forward to welcoming everyone to the Hilton Park Lane in June.”

Brand Licensing Europe is once again the headline sponsor of the awards, with trade organisation, Licensing International, also supporting the programme. Finalists across the Property, Product and Retail categories of the B&LLAs 2020 are due to be announced at the end of next week.

A host of major companies and brands have also pledged their support as category sponsors. These include WildBrain CPLG Lifestyle, The Point.1888, MDR Brand Management, CAA-GBG, The Jockey Club, Pringles, Start Licensing, Golden Goose, Discovery Consumer Products, Powerstation Studios, H&A, Beanstalk, Good Housekeeping, TSBA, Brandgenuity Europe and Brand Comply.com.

For general enquiries on the B&LLAs 2020, please contact Ian Hyder or Rob Willis on 020 700 6740. Find out more about the events at the official B&LLAs website at www.brandlicensingawards.com.