LOS ANGELES, April 12, 2021 /PRNewswire/ — Riva Technology and Entertainment (RTE) announced that they have signed multiple brand licensing deals with toy industry leader, MGA Entertainment (MGAE), to develop and publish mobile games based on the global toy company’s hit properties L.O.L. Surprise!™ and Rainbow High™.
RTE are veterans in the gaming and IP business, having built gaming companies for over 20 years, along with securing and developing top licensing deals ranging from Hollywood, Bollywood, Sports and all the way to the world’s leading brands.
MGA Entertainment’s L.O.L. Surprise!™ is a global phenomenon, winning the prestigious «Toy of the Year» Award for three years. MGA’s newly launched Rainbow High debuted in 2020 and has already become a cultural phenomenon with a presence across product, content and integrated digital media.
The global gaming market valued at USD $162.32 billion in 2020 and expected to reach USD $295.63 billion by 2026. Mobile gaming generated $13.2 billion U.S. dollars in revenue in 2019.
«MGA boasts a diversified portfolio of leading brands, and they build fantastic award-winning toys. Our vision of bridging the world of mobile gaming with consumer products and the toy culture is strongly aligned. I admire them for their consistent growth over the years and the incredible efforts they have accomplished, creating a universe that each of their collections represents. RTE always strive to associate with the biggest and the best and MGAE is certainly that. Details of the upcoming games will be announced soon,» said RTE CEO & Founder, Paul Roy.
Isaac Larian, CEO and Founder of MGA Entertainment adds: «We are delighted to partner with RTE who has a proven track record for working with the biggest IPs and delivering top quality results. Our digitally native fans want to experience our award-winning brands across all platforms and mobile gaming is a strategic focus for us in 2021 and beyond. It is MGA’s goal to expand both digital gaming and NFTs in a significant way.»
Founded in 2002, with a global presence from the USA to East Asia, RTE has successfully been delivering the vision of tomorrow for close to 20 years. RTE holds an industry advantage in their ability to take every project from concept to execution; all under one roof. The complementary companies cover location-based entertainment, brand and IP licensing, content, consumer products, gaming & esports.