Global retail sales of licensed merchandise and services grew more than 3 percent in 2018, according to the Licensing International 2019 Global Licensing Industry Survey.

Licensing International found that the vertical earned $280.3 billion in 2018, compared to $271.6 billion in 2017. The study reported that the entertainment/character sector was the largest in 2018, accounting for more than 43 percent of the total global licensing market. Corporate brands also had a strong showing last year, with the highest growth rate out of the Top 4 sectors.

“The 2019 Global Licensing Study drives home the fact that licensing continues to be a vital part of the consumer marketplace, and a versatile tool for brand owners and licensees to creatively build their businesses,” says Maura J. Regan, president, Licensing International, via an introductory message to the report. “This year’s results highlight the licensing industry’s wide reach, value and potential in both developed and growth markets. It’s an exciting time for us all to help lead the licensing business into its promising future.”

This year’s Global Licensing Study debuted at the 2019 China Licensing Conference, held by Licensing Expo China and Licensing International. The one-day seminar was held ahead of the LEC event currently happening in Shanghai, China. Learn more about the show by visiting the LEC website.