The world of Licensing has for some time now been an ‘industry in flux’. As one of the most innovative and entrepreneurial business industries in the world, licensing connects owners in entertainment, character art and corporate brand with retailers, licensees and manufacturers
Wikipedia describes innovation as the ‘application of better solutions that meet new requirements, unarticulated needs or existing market needs’ The alignment of innovation and licensing, has in many instances lead the charge in new partnerships for brands like Barbie, Spider-Man and Fisher-Price, but has the licensing industry been complacent in waiting for ideas to come to them?
At a recent meeting I attended in Europe, in discussion around the state of licensing in the world, one of my colleagues said ‘Licensing is not only about cutting deals, it is about building projects’.
Having said this, the buck most certainly does not stop with leaders in licensing’ but it puts a lot more pressure on the industry to find new and exciting projects and products which can be aligned with business partners and to subsequently put the necessary building blocks in place to ensure success.
2019 has started as every year does with new projects and objectives but how many of these will come to fruition in the coming months and years? Only time will tell.