From the Editor: On the Way to Mandalay

Are you ready to go all in?

Licensing Expo is back in action. It’s where character franchises, pop culture powerhouses, and the next big thing in play converge — and where the toy biz comes to shake hands, ink deals, and turn ideas into the next hot products vying for shelf space.

What’s striking this year is how evolved the playing field has become. Legacy IPs share the spotlight with upstart brands born on TikTok and YouTube. Classic characters are re-imagined for a new generation, while digital-first properties jump off screens and into toy boxes. The path from content to product has never been shorter — or more crowded.

While deals are being struck across every category imaginable, toys and games are still the crown jewel of licensed consumer products. Step through the doors of the Mandalay Bay Convention Center, and you’ll find everyone from heavyweight manufacturers to scrappy innovators walking the aisles, hunting for the next great story to tell through play. Because at the end of the day, that’s what it’s all about: storytelling. The formats may change — from books and comics to film and TV to video games, streaming, shorts, and AI-enhanced content — but the heart of it stays the same. Characters and properties that resonate inspire products that spark imagination and joy.

The toy industry continues evolving, and despite the current wave of economic uncertainty, adults are still buying more toys and collectibles — for themselves —than ever. During recent earnings calls and investor presentations, categories like music and sports have been highlighted for their growth potential. In this issue, Associate Editor Katherine M. Hill looks at the work that Global Merchandising Services is doing, bringing top artists such as Ozzy Osbourne, Backstreet Boys, Mötley Crüe, Ghost, and others into toy departments via deals with Mattel, Funko, Super7, and others.

Nostalgia also powers big business in licensing, and this year sees milestone anniversaries and returning franchises, including How to Train Your Dragon, Lilo & Stitch, JAWS, Yo Gabba Gabba!, and Jurassic World, inspiring thousands of must-have toys and games for kids and kids at heart.

Of course, the toy industry thrives on newness, and our annual look at the hottest kids’ properties features a mix of emerging brands, recent hits, and modern classics that are or are on their way to becoming evergreen staples.

This year, Licensing Expo isn’t the only show in town, as ABC Kids Expo opens its doors in the adjacent hall at Mandalay Bay to connect retailers with manufacturers across the juvenile space. The annual gathering showcases hot products for infants, toddlers, and preschoolers alongside baby gear and decor. As more baby stores carry toys and more toy stores carry baby products, the convergence is undeniable, and our Oh Baby! and Playful Preschool showcases return this month with dozens of products to fuel sales in the months ahead.

There’s no denying that it’s been a challenging year thus far. While no one can control the external forces (tariffs) that have placed undue stress upon global trading partners within the supply chain, the toy industry is inhabited by a creative and resilient bunch with a knack for turning big challenges into big opportunities.

Whatever happens, The Toy Book is here to tell the story with optimistic eyes on the future.

A version of this feature first appeared in The Toy Book‘s Licensing & Entertainment (+Baby!) Issue. Click here to read the full issue!

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