As Spin Master’s gaming revenue rises, the company is leaning into the sector going into 2026.
During Spin Master’s Q3 2025 earnings call today, October 30, the Toronto-based toy company reported a $13.7 million year-over-year increase in revenue from its digital games segment — from $51.5 million from $37.7 million last year — with the company attributing approximately $10 million of this increase to strategic partnerships with gaming platforms including Apple Arcade and Netflix Games. These platforms pay Spin Master licensing fees to offer users access to popular titles like “Toca Boca” and “Paw Patrol.”
Spin Master is continuing to roll out more games across both Apple Arcade and Netflix Games. On November 6, “Toca Boca Jr” is launching on Apple Arcade; on November 17, Netflix Games will launch “Paw Patrol Academy” and “Toca Boca Hair Salon 4.” Apple Arcade is also funding the development of an exclusive game, which Spin Master plans to publish on the platform in Q1 of 2026, according to Spin Master president of digital games Marc De Vellis.
“We’re already in discussions for what’s next,” De Vellis said in an interview with GamesBeat. “Similar to what we’ve just done with Netflix with ‘Paw Academy’ and ‘Hair Salon 4,’ these deals usually consist of always looking at the data and making sure that we’re hitting the targets and KPIs that we’ve mutually set, and we’re very confident that they will.”
Although Spin Master has developed games based on its prominent toy properties, such as Rubik’s Cubes, in the past, the company’s game development strategy is currently focused on its “Toca Boca” and “Piknik” series, with the former boasting a monthly active user count of over 60 million, per De Vellis. Alongside toys and entertainment, digital games is one of three pillars of the company’s revenue strategy.
“Obviously, ‘Paw Patrol’ is streaming on Netflix, and later this fall, ‘Paw Academy’ will be added to Netflix Games,” De Vellis said. “We’re looking at this across three creative centers, and where it makes sense, we really bring that franchise experience to life through those verticals.”
In addition to its homegrown digital games business, Spin Master also has a growing game licensing business. Last week, the company announced a licensing deal with Tetris to develop puzzles and games inspired by the popular game. Spin Master has also licensed the Rubik’s brand to the company Cubios Inc, which launched the WOWCube, a handheld gaming device modeled after Rubik’s Cubes, earlier this month. Although these licensing deals are separate from the digital gaming strategy outlined by De Vellis, they are another element of Spin Master’s growing involvement in gaming.
“We send some royalties from each cube sold,” said Cubios Inc. CEO Max Filin. “Rubik’s helps us with marketing support, because for them, it’s also important.”
Digital games represent a bright spot for Spin Master, which blamed tariffs and uncertain consumer spending behavior for its year-over-year decrease in Q3 revenue. Despite this slip, though, analysts are still rating Spin Master at “buy” or “hold,” in part reflecting investors’ confidence in the growing parts of the business, including gaming. De Vellis declined to share specific revenue goals for 2026, but said that digital growth is a “big focus” for Spin Master.
“Anybody in the games industry, or any entertainment industry, is always looking for year-over-year growth,” De Vellis said. “These new strategic relationships with Apple, Netflix and Google get us closer to becoming a bigger portion of revenue for Spin Master.”