Licensing Industry grows 4.6%
Licensing International has published a summary of the Global Licensing Industry Study 2024, which provides an overview of the continued global growth of the licensing industry.
The results of the 2024 Global Study are drawn from various sources of market intelligence as well as data reports from 45 countries and all seven major geographic regions. In total, the study's analysis includes specific licensing data from 899 companies from around the world.
Some key takeaways from the 2024 Global Licensing Industry Study
- The Entertainment/Characters segment grew 6.9% to reach $147.6 billion in revenue. Anime, Video Games, and Social Media accounted for 38% of the licensed revenues in 2023.
- Top performing property categories in 2023 included Music (+16.4%), Fashion (+7.5%), and Sports (+5.6%).
- The biggest decline in a product category was in the licensed Toy segment, which saw revenue fall -3.5% in 2023.
- The eCommerce retail channel for the licensing industry expanded again in 2023 to reach a 37% share of global licensing sales.
- Several regions reported above market average growth rates in 2023, including North Asia (+9.3%), ME/Africa (+7.5%), South Asia/PAC (+7.4%), and Eastern Europe (+7.1%).
“The global brand licensing industry shows no signs of slowing down. In 2023, consumers have proven to be more loyal to the brands, characters and properties they love than ever before,” said Maura Regan, President of Licensing International. “In fact, the global brand licensing industry once again outperformed the overall global retail market, proving that brands are making a difference.”
The full Global Licensing Industry Study will be published late this summer and was conducted by independent research firm Brandar Consulting, LLC.