Source: Licensing International

The licensing business is always evolving, and in an era of new growth, adaptation, and new opportunities (see: NFTs), it’s time to look at the state of the industry as a whole.

Today, Licensing International unleashed a Looking Forward: The State of the Licensing Business, a 30-page special report “that explores the trends, opportunities, and challenges facing the global licensing industry.” The deep dive into the business features insight from more than 35 brand licensing executives from around the world. Licensing International created the report in partnership with Miller Kaplan.

“The last 18 months have shown the underlying strength of the licensing business and spotlighted companies’ ability to adapt to new circumstances, even as many of the assumptions and underpinnings of normal business practices were upended by the global pandemic,” says Licensing International President Maura Regan. “We look forward to supporting and leading a robust licensing industry as it — and the world at large — identifies and seizes opportunities in a reformulated post-COVID world.”

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The new report delves into numerous hot topics, including the growth of video games, collectibles, and trading cards, along with the evolution of omnichannel retail, and a lot of under-the-hood revelations that will have a major impact on the industry moving forward.

“The pandemic re-emphasized the need to be thoughtful and diligent about selecting partners, says Jay Asher, partner at Brandgenuity. “It’s clear that some companies were vulnerable to poor-sourcing, inventory mismanagement, unforeseen rising material prices, and shipping challenges. And with no history of what it means to operate during a pandemic, many manufacturers oversold or over-committed and we are now watching the impact of those decisions affect sales and open to buys.”

See the full report at licensinginternational.org.