2020 ushered in a new decade marked by major business mergers, the launch of game-changing streaming platforms and flourishing verticals such as esports that cultivated a host of consumer products opportunities and unprecedented growth for the licensing industry. With the world’s leading licensor, Disney, reporting its consumer products business was up 25 percent in Q4 2019, the role of licensees proved more pivotal than ever.
As businesses continue to evolve and pivot to overcome the challenges brought on by the COVID-19 pandemic, licensees will continue executing their vital role as the pillars of the licensing industry.
“Licensees are the lifeblood of our industry and need our acknowledgment and support,” says Steven Ekstract, brand director, Global Licensing Group, Informa Markets. “Their expertise in design, manufacturing, packaging, marketing, distribution and sales is what drives this almost $300 billion business.”
Licensees are a crucial piece of the licensing puzzle, creating product across all categories including apparel, collectibles, toys, publishing, health and beauty and more. According to the2019 Licensing International Annual Global Licensing Industry Survey
, licensees reported a rise in the licensing of sports brands and sports leagues. Some respondents of the report noted the rise of licensing among influencers, commenting, “It’s been a whirlwind of influencers coming up every day wanting to offer their services and get a slice of the licensing pie.”
Whether you’re a social influencer, a major brand like Disney, a thriving sports team or a hit television show – to be impactful in business, you’ll need a licensee to produce prod- ucts and get them onto store shelves. License Global takes a look at the impact and importance of licensees in modern industry.