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Spin Master Reports Q1 2021 Financial Results Strong Revenue Growth Across all Creative Centres and Continued Operational Improvements Drive Record Profitability Growth in Q1 Spin Master Increases 2021 Outlook TORONTO , May 5 , 2021 / CNW / - Spin Master Corp. ( " Spin Master " or the " Company " ) ( TSX : TOY ) ; www.spinmaster.com ) , a leading global children's entertainment company , today announced its financial results for the three months ended March 31 , 2021. The Company's full Management's Discussion and Analysis ( " MD & A " ) for the three months ended March 31 , 2021 is available under the Company's profile on SEDAR ( www.sedar.com ) and posted on the Company's web site at www.spinmaster.com/financial-info.php . " Our performance this quarter clearly demonstrates our commitment to creating exceptional play experiences and engaging children's entertainment through our three creative centres comprising toys , entertainment and digital games . It is very gratifying to see both our strong financial and operating performance this quarter compared to the same period last year , especially from the continued growth in digital games , " said Ronnen Harary , Spin Master's Co - Founder . " We recognize the incredible dedication of our teams across the globe . Together , they have rallied to drive the strong results we achieved this quarter . As we manage through the complexities of the pandemic , I am continually amazed and impressed by the effort and dedication of our employees . " - Max Rangel , Spin Master's newly appointed Global President & CEO added , " At the heart of Spin Master's growth story is a remarkable purpose – to create magical play experiences for children and their families around the world . Our commitment to that purpose is unwavering . How we bring this vision to market across our three creative centres will continue to evolve and adapt to the changing content landscape , consumer preferences and emerging trends in children's entertainment . With this solid foundation , supported by relentless innovation and operational excellence , we see tremendous potential for Spin Master and are focused on driving profitable growth and creating significant value for our shareholders . " " We delivered very strong margins and profitability in the first quarter and are particularly pleased with the broad nature of our performance improvements compared to Q1 2020 , " said Mark Segal , Spin Master's Chief Financial Officer . " Revenue grew as a result of higher Gross Product Sales and growth in digital games led by Toca Life World . Our operational improvements continued to allow us to execute more efficiently and effectively this quarter . Our solid financial position with cash on hand of over $ 260 million , gives us increasing opportunities to leverage our diverse and global platform for organic growth and acquisitions . We expect many of the trends that drove this performance in the first quarter to continue and we are raising our outlook for 2021. " Q1 2021 Financial Highlights as compared to the same period in 2020 • Total revenue of US $ 316.6 million increased by 39.3 % from US $ 227.3 million . In Constant Currency 1 terms , total revenue increased by 36.9 % . • Gross Product Sales¹ increased by 21.6 % to US $ 294.7 million from US $ 242.3 million , primarily driven by higher sales in Preschool & Girls and Outdoor . In Constant Currency 1 terms , Gross Product Sales increased by 19.9 % . • Gross Product Sales1 increased by 44.6 % in Rest of World , 21.2 % in Europe and 18.0 % in North America . International Gross Product Sales¹ were 42.1 % of total Gross Product Sales1 , compared to 40.3 % . • Other revenue grew by 178.5 % to US $ 61.0 million . 。 Digital games revenue increased by 394.2 % to US $ 34.1 million , driven by the Toca Life World platform and growth in the Sago Mini subscription user base . 。 Entertainment and Licensing revenue was 79.3 % higher at US $ 26.9 million . • Sales Allowances 1 increased by US $ 2.2 million to US $ 39.1 million . As a percentage of Gross