INTRODUCTION
Toys and games companies in the USA are an important part of the entertainment industry, providing children and adults alike with hours of fun and engagement. As of 2023, the industry has experienced significant growth, with more and more companies entering the market.
Some of the leading toys and game companies in the USA include Hasbro, Mattel, Lego, Nintendo, and Electronic Arts. These companies offer a range of products, from traditional board games and puzzles to high-tech video games and interactive toys.
Hasbro is one of the largest and most well-known toy companies in the world, producing brands such as Transformers, Nerf, and My Little Pony. Mattel is another major player in the industry, with popular brands like Barbie, Hot Wheels, and Fisher-Price.
Lego is known for its colourful building blocks and imaginative sets, while Nintendo produces some of the most iconic video games in history, including Super Mario Bros. and The Legend of Zelda. Electronic Arts, or EA, is a leading developer of sports and action games, with franchises like Madden NFL and Battlefield.
Overall, the toys and games industry in the USA is thriving, with many exciting and innovative products being developed and released each year.
IMPORTANCE
Toys and games companies are an essential part of the US economy, and their importance is expected to grow even more by 2023. The global toys and games market is projected to reach $131.7 billion by 2026, with the US being the largest market for these products.
One significant driver of growth in the industry is the increasing popularity of digital games and toys. As technology continues to advance, companies that embrace these innovations are expected to have a significant advantage over their competitors.
In addition to technological advancements, toy and game companies in the US will benefit from favourable economic conditions. The US economy is expected to continue growing in the coming years, leading to an increase in consumer spending on discretionary items such as toys and games.
Moreover, the pandemic has created new opportunities for the industry, with more people spending time at home and looking for ways to entertain themselves and their families. As a result, toys and game companies that offer innovative and engaging products are likely to see a surge in demand in the coming years.
Overall, the toys and games industry is poised for growth in the US market in 2023 and beyond, with companies that focus on technological innovation, consumer preferences, and market trends likely to succeed.
Here are the top 10 best toys and games companies in USA in 2023
Hasbro – Hasbro is a multinational toy and entertainment company that was founded in 1923 in the United States. It has its headquarters in Pawtucket, Rhode Island, and has operations in over 40 countries. The company is known for its iconic brands, such as Monopoly, Transformers, My Little Pony, and G.I. Joe, among others.
In 2003, Hasbro was a leading player in the toy and game industry with revenues of $2.3 billion. The company had a strong focus on innovation and design, with a robust portfolio of intellectual property that included more than 1,000 patents and trademarks.
Hasbro’s product lines include toys, games, puzzles, and licensed merchandise. The company had a diverse range of brands targeted at different age groups and markets, from preschoolers to adults. Hasbro also had a strong presence in the entertainment industry, with successful ventures in film, television, and digital media.
In 2003, the company’s management team was led by CEO Alan Hassenfeld, who was focused on growth through strategic acquisitions and partnerships. Hasbro had recently acquired Wizards of the Coast, the maker of the popular trading card game Magic: The Gathering, and was exploring opportunities in the video game industry.
Overall, Hasbro was a dynamic and innovative company in 2003, with a strong portfolio of brands and a focus on growth and expansion through partnerships and acquisitions.
Mattel – Mattel is a multinational toy manufacturing company based in California, USA. Founded in 1945 by Harold Matson and Elliot Handler, Mattel started as a manufacturer of picture frames before transitioning to toy production in the late 1940s. In the following decades, Mattel became one of the world’s leading toy companies, producing some of the most iconic toys of all time, such as Barbie, Hot Wheels, and Fisher-Price.
By the early 2000s, Mattel had established itself as a major player in the global toy industry. Its diverse product range catered to a wide audience, from infants to adults, and included dolls, action figures, board games, and electronic toys. Mattel also had a strong presence in the licensing industry, securing deals with popular franchises such as Disney, Marvel, and WWE.
In 2007, Mattel faced a major crisis when it was discovered that some of its toys manufactured in China contained dangerous levels of lead paint. The company had to recall millions of toys and faced significant backlash from consumers and regulatory authorities. However, Mattel took immediate steps to address the issue and implemented stricter quality control measures.
Despite this setback, Mattel continued to thrive in the following years, expanding its product range and diversifying into new markets. In 2020, the company reported a net revenue of $4.58 billion, making it one of the largest toy companies in the world.
LEGO Group – The LEGO Group is a Danish company that produces world-famous LEGO bricks and sets. Founded in 1932 by Ole Kirk Christiansen, the company has grown to become one of the largest toy manufacturers in the world. The LEGO Group’s mission is to inspire and develop the builders of tomorrow through play, creativity, and imagination.
The company’s product line ranges from basic brick sets to more complex sets based on popular themes like Star Wars, Harry Potter, and Marvel Superheroes. LEGO has also expanded into video games, movies, and theme parks.
In 2004, the company faced financial troubles and had to lay off about 1,000 employees. However, in 2005, they rebounded with a profit and continued to grow. The LEGO Group is known for its strong corporate culture, including the “LEGO Values,” which emphasize teamwork, creativity, learning, and quality.
In 2006, the company launched its first sustainable product line, LEGO Plant-based Polyethylene, made from sugarcane, which aimed to reduce its environmental impact. The company also supports various charitable causes through the LEGO Foundation, which focuses on providing children with access to education, play, and learning opportunities.
Today, the LEGO Group continues to innovate and expand its product line while staying true to its core values and mission.
Nintendo – Nintendo is a Japanese multinational video game company founded in 1889. Over the years, Nintendo has become one of the most recognizable names in the gaming industry, known for creating iconic video game franchises such as Mario, Zelda, and Pokémon.
In 2003, Nintendo released the Game Boy Advance SP, a redesigned version of their popular handheld gaming device that featured a backlit screen and rechargeable battery. The device proved to be a massive success, with over 43 million units sold worldwide.
In 2004, Nintendo released the Nintendo DS, a dual-screen handheld gaming device that featured a touchscreen and stylus. The DS went on to become one of the best-selling gaming devices of all time, with over 154 million units sold worldwide.
In 2006, Nintendo released the Wii, a home gaming console that featured innovative motion controls. The Wii proved to be a massive success, with over 101 million units sold worldwide.
Throughout the mid-2000s, Nintendo continued to release successful titles for their existing franchises, including Super Mario Galaxy and The Legend of Zelda: Twilight Princess.
Overall, in 2006, Nintendo reported a net profit of over $800 million USD, thanks in large part to the success of the Wii and DS. Nintendo continued to innovate and dominate the gaming industry in the years to come.
Spin Master – Spin Master is a Canadian toy and entertainment company founded in 1994 by Anton Rabie, Ronnen Harary, and Ben Varadi. The company’s headquarters is located in Toronto, Ontario. The company is known for creating and producing innovative and high-quality toys and games.
Spin Master has a wide range of product lines, including Paw Patrol, Bakugan, Hatchimals, Kinetic Sand, and Air Hogs. The company has a global presence, with offices in North America, Europe, and Asia, and distributes its products to more than 100 countries.
In addition to its toy and game business, Spin Master has also expanded into the entertainment industry. The company has produced several animated TV series based on its popular toy lines, including Bakugan, Paw Patrol, and Hatchimals.
Spin Master has received numerous awards and recognition for its innovative products, including multiple Toy of the Year awards. The company has also been recognized for its commitment to corporate social responsibility, including its sustainability efforts and the support of various charitable organizations.
In summary, Spin Master is a leading toy and entertainment company with a global presence, known for its innovative and high-quality products and commitment to corporate social responsibility.
Funko – Funko is a company that produces pop culture collectables and licensed merchandise. The company was founded in 1998 in Everett, Washington, and initially produced bobbleheads. However, in recent years, they have become best known for their Pop! Vinyl figures.
These figures are designed to resemble popular characters from TV shows, movies, comics, and video games. Funko’s products appeal to a wide audience, from children to adults, and they are popular with collectors and fans alike.
Funko has partnerships with a wide range of popular entertainment companies, including Marvel, DC Comics, Disney, Star Wars, and Game of Thrones, among others. They also produce merchandise for popular musical artists such as BTS and Post Malone.
In addition to their Pop! Vinyl figures, Funko produces other collectables, such as plush toys, keychains, and action figures. The company has also expanded into apparel, with t-shirts, hats, and other accessories featuring its designs.
Funko has experienced significant growth in recent years, and in 2017, it went public with an initial public offering (IPO). As of 2021, the company’s products are sold in over 100 countries, and they have a strong online presence through their website and social media accounts.
Overall, Funko has become a well-known brand in the collectables industry, with a reputation for producing high-quality, highly sought-after products.
MGA Entertainment – MGA Entertainment, also known as MGA, is a privately owned American toy and entertainment company founded in 1979 by Isaac Larian. The company is headquartered in California and has several international subsidiaries.
MGA Entertainment is known for creating and producing popular toy lines such as Bratz, Lalaloopsy, and Num Noms. The company has also expanded into other areas such as video games, television shows, and movies. In 2007, MGA Entertainment released a direct-to-DVD animated movie based on the Bratz toy line, which was followed by a live-action movie in 2009.
The company has had its share of legal disputes, particularly with rival toy company Mattel over the Bratz line. In 2008, a court ruling ordered MGA to pay Mattel $100 million in damages, but that was overturned in 2010. In 2011, MGA countersued and was awarded $88.5 million.
MGA Entertainment has continued to grow and expand, acquiring other companies such as Little Tikes in 2006 and creating new toy lines such as Project Mc2, a line of STEM-focused dolls. The company has also been involved in philanthropy, with Larian establishing the Isaac Larian Pledge, which donates a portion of the company’s profits to charities supporting children and education.
Ravensburger – Ravensburger is a German toy and game company that has been in operation for over 135 years. The company was founded in 1883 by Otto Maier and initially produced lithographs for other companies before expanding into board games and puzzles.
Today, Ravensburger is known for its high-quality puzzles, games, and educational toys. The company produces a wide range of products, from children’s puzzles to complex jigsaw puzzles with thousands of pieces, as well as games for all ages.
In addition to its core products, Ravensburger has also expanded into the digital space, offering apps and online games for children and adults. The company is committed to sustainability and uses environmentally friendly materials in its products.
Ravensburger has a global presence, with offices and production facilities in several countries. The company’s headquarters is located in Ravensburg, Germany, where it employs over 2,000 people.
Overall, Ravensburger has built a reputation for producing high-quality, engaging products that promote learning and creativity. Its commitment to sustainability and global reach has helped the company maintain its position as a leader in the toy and game industry.
Playmates Toys – Playmates Toys is a privately held American toy company that was founded in 1966. The company has its headquarters in Costa Mesa, California, and is known for its popular toy lines, such as Teenage Mutant Ninja Turtles, Ben 10, and Voltron.
In the early 1990s, Playmates Toys launched their most successful toy line, Teenage Mutant Ninja Turtles. The line was a massive hit and helped Playmates become one of the top toy companies in the industry. They continued to expand their product offerings with licenses for other popular properties such as The Simpsons and Star Trek.
In addition to its licensed toy lines, Playmates also developed its original properties, such as the Waterbabies doll line, Nano metal figs, and Mysticons.
Over the years, Playmates Toys has undergone several changes in ownership and management. In 2015, the company was acquired by a Hong Kong-based consortium called CIC Partners, which rebranded it as Playmates Toys Limited. Today, Playmates Toys continues to be a prominent player in the toy industry, with a focus on creating high-quality, imaginative toys for kids of all ages.
WowWee – WowWee is a company that specializes in designing and producing innovative, interactive toys and consumer robotics products. The company was founded in 1988 and is headquartered in Hong Kong, with additional offices in Los Angeles and Montreal.
WowWee’s products range from simple plush toys to complex robots, all of which incorporate advanced technology to provide unique and engaging experiences for users of all ages. Some of their most popular products include Fingerlings, a line of small, interactive monkey toys that respond to touch and sound, and MiP, a self-balancing robot that can be controlled via smartphone.
In addition to their consumer products, WowWee also develops custom robotics solutions for a variety of industries, including entertainment, education, and healthcare.
One of WowWee’s strengths is their ability to stay on top of emerging trends and technologies, such as augmented reality and artificial intelligence, and incorporate them into their products. This has allowed the company to remain relevant and competitive in a rapidly evolving market.
Overall, WowWee has established a reputation for delivering high-quality, innovative products that combine cutting-edge technology with an engaging design.
CONCLUSION
As of 2023, the toys and games industry in the USA has continued to see growth, fueled by the rise of e-commerce and the increasing popularity of online gaming. Traditional toy companies are adapting to these changes by incorporating digital and interactive elements into their products.
Meanwhile, video game companies continue to dominate the market with the development of new consoles and online gaming platforms. The industry has also seen a trend towards environmentally friendly and sustainable products, with companies investing in the use of recycled materials and reducing their carbon footprint.
Overall, the toys and games industry in the USA is expected to continue to thrive in the coming years.
