Jakks Pacific has joined the ranks of toy manufacturers starting the year off on strong footing. In the wake of Hasbro announcing a 17% Q1 revenue increase last week, Jakks posted an equally rosy first-quarter report after market close yesterday, with total global net sales up by 26% from the same period last year. 

Chairman and CEO Stephen Berman says this sales spike was driven primarily by demand for licensed products based on films that were released in Q4 2024, including Sonic the Hedgehog 3. Compared to Q1 2024, toys and consumer products sales were up 30% this quarter, accounting for nearly 95% (US$107.4 million) of the company’s total US$113.3-million take. 

These gains were offset by a continued decline for Disguise, which reported a 19% sales drop to US$5.8 million. But Jakks is already making moves to recover in this category for the Halloween shopping season, signing new deals recently with SEGA of America for Sonic the Hedgehog and with Spin Master for the core PAW Patrol franchise and upcoming 2025 feature film PAW Patrol: The Dino Movie. 

Both of Jakks’ geographical segments showed positive growth this quarter—North American sales clocked in at US$92.2 million (up from US$73.8 million in Q1 2024) and international sales were up from US$16.3 million to US$21 million. Europe was a standout market this quarter, with sales doubling from US$5.7 million this time last year to US$11.8 million.