LA-based toyco Jakks Pacific released its annual financial statement for 2024 yesterday, reporting US$691 million in global net sales for the year—which is only down by 3% from 2023 (US$711.6 million). 

This slight decline is attributed to weak performances in the first half of the year, when Jakks sustained double-digit sales hits in both Q1 (down 16%) and Q2 (down 11%) while it waited to roll out tie-in toy lines for Disney’s Moana 2 (November) and Paramount’s Sonic the Hedgehog 3 (December, pictured). And the dip was evident in both segments of the toyco’s business, with consumer products down 2% to US$570 million and Disguise costumes down 8% to US$121 million.

Despite these losses, Jakks experienced a recovery in Q4, generating US$130.7 million in net sales over the holiday season (up 3% from 2023)—largely driven by its action play and collectibles product category, which generated 33.7% more sales than in 2023 to finish the year at US$47 million. The top-performing entertainment IPs in the company’s licensed portfolio included The Simpsons, Moana and Sonic, replacing 2023 heavy-hitters The Little Mermaid, The Super Mario Bros. Movie and Disney’s Wish.

Jakks has built a strong foundation of evergreen product categories and licenses that can open up new growth opportunities, says company management. And putting its money where its mouth is, Jakks’ board of directors has approved a new quarterly cash dividend program for shareholders as the toyco heads into Q1 with no long-term debt or other obligations restricting its cash flow.