The toy industry gathers at Licensing Expo to roll the dice and bet on the properties that could pay off as the next big hit.
From the 2023 Licensing & Entertainment Issue of The Toy Book: The licensing industry and the toy business go together like peanut butter and chocolate, Batman and Robin, Han and Chewie, Michael Knight and K.I.T.T., or … you get the idea.
For decades, the symbiotic relationship between licensors and licensees has resulted in iconic toys and games inspired by movies, TV series, video games, books, and more. While the seeds were planted years before, the explosion of licensed products between the 1970s and 1980s rewrote the rules of the consumer products game and established a playbook that’s largely still used today.
According to Licensing International’s 2022 Global Licensing Study conducted by Brandar Consulting, global sales revenue generated by licensed products and services hit $315 billion in 2021. While the 2023 report won’t arrive until later this summer, there is no doubt that the business is massive with entertainment- and character-based intellectual properties (IPs) generating nearly $130 billion in sales each year — holding the largest share (41%) of the licensing industry as a whole, while toys and apparel consistently run neck and neck to claim the top spot in category sales.
Looking deeper into the numbers, corporate brands ($76.9 billion), sports ($31.2 billion), and fashion ($28.4 billion) fall well behind the entertainment and character business, but they’re all intersecting in new ways.
As the toy industry continues to evolve and blur the lines between categories and age groups while challenging the very definitions of “toys,” “collectibles,” “games,” and even “play” itself, more corporate, fashion, and sports entertainment brands are showing up in the toy department, while IPs originating as toys and games are jumping into mainstream consumer products.
The energy of cross-category collaboration sprinkled with a dash of inspiration from our “resting” sister publication, The Licensing Book, helped shape The Toy Book’s first-ever Licensing & Entertainment issue.
NEW BRANDS, OLD FRIENDS, AND BUSINESS TRENDS
While the toy industry doesn’t like to gamble, a bet on the right property could lead to a big payoff, and on page 30, we explore some emerging and evergreen kids’ brands that are making waves this year.
From there, we take a look at the Disney100 and WB100 licensing programs; Property Profiles on Bluey, Monster Jam, and The Lumistella Company; and features on a trio of classic toy brands that inspired movies hitting theaters this summer: Transformers, Barbie, and Teenage Mutant Ninja Turtles.
Then, our legendary new product showcases provide a curated look at what’s new in licensed toys and games, including anime-, sports-, automotive-, and video game-inspired products.
This issue also features insight and tips from industry experts, including TinkerTini’s Trina McFarland and Design Force’s Ted Mininni on designing licensed toys and packaging; and Stephanie Pottick, Esq. on the ABCs of licensing agreements. Additionally, Circana drops in with revealing data on licensed properties.
Finally, our State of Licensing Q&A presents a roundtable discussion about the trends impacting the business this year from a group of folks who live it 24/7.
As you dig in, we hope that you’ll find something to inspire you, whether it’s a new product to stock or a new license to chase. We’ll see you on the show floor at Licensing Expo in Las Vegas!
A version of this article was originally published in the 2023 Licensing & Entertainment Issue of The Toy Book. Click here to read the full issue! Want to receive The Toy Book in print? Click here for subscription options!
Top photo credit: Ruslan Gilmanshin | stock.adobe.com
