“What’s happening now is, in order to earn social currency or popularity, you take on an affinity for something that has merit. “When I was growing up, your social badge was whatever you participated in-your sports or your clubs,” Piper Jaffray analyst Stephanie Wissink says.
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It’s worth noting that Disney recently announced its full theatrical schedule through 2019, allowing the hype cycle to begin earlier and priming the pump for more merchandising sales. Those passions, in turn, feed a massive merchandising machine, which allows people to wear their allegiances on their sleeves. “I can tell you, from what Loot Crate was last year, when we were positioned as strictly a subscription-box company, that the closest competitor in our space was at least five to six times smaller than we are and was doing unlicensed kind of products that are not on the same level or engagement as we are doing,” he says. He rejects direct comparisons to other services like Nerd Block and 1UP Box, referring to them as competitors only in the past tense. This includes video production, social media outreach, a massive presence at events like Comic-Con, and creative partnerships with entertainment brands. “We’re kind of a different business altogether,” he says, pointing to all the things Loot Crate does to enhance its business beyond placing items in boxes. Yet he doesn’t describe the company as a subscription-box business. This year, Arevalo expects revenues to reach $200 million.
1 ranking on Inc.‘s list of the fastest-growing private companies in America. Those subscribers propelled Loot Crate to $116 million in revenue in 2015, and a No. For the last four years, Loot Crate has delivered mystery boxes full of geeky collectibles-T-shirts, vinyl figures, comics, and other assorted tchotchkes-on a subscription basis, like a cheese-of-the-month club for fans of Batman and Doctor Who.
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