Brand licensing has become a necessity for business growth for any brand owners or product manufacturers. One of the best methods to give consumers an authentic shopping experience that enables them to engage with their favorite businesses in new ways is through this method. The necessity for digitization to assure conformance with the government's social distancing legislation is projected to grow in the next years, which will increase demand for brand licensing technology.
The brand licensing market has been impacted by the COVID-19 pandemic in a number of ways, both directly and indirectly. The pandemic not only had an influence on global supply chains, which also had an effect on licensing firms, but it also had an effect on the market by reducing consumer spending power and, as a result, non-essential consumerism in general.
According to Business Research Insights, the market for brand licensing was valued at USD 276243.53 million in 2021 and is projected to reach a valuation of USD 371993.50 million by 2028 with a CAGR of 4.34%. The market has leading players; The Walt Disney Company , Meredith Corporation , Pvh Corp. , Iconix Brand Group , Authentic Brands Group , Universal Brand Development , Nickelodeon , Major League Baseball , Img College (collegiate Licensing Company) , Sanrio , Sequential Brands Group , Westinghouse , General M.
The market for brand licensing has been booming in industries including fashion, sporting and fitness, entertainment and media back-to-school, and so on. Multinational brands must leave an impression in this market. In 2016, 22 global brands launched physical locations, and 32 foreign brands launched websites. The preponderance of them relies on brand licensing as a basis for their business models. Character-inspired merchandise has grown significantly among fashion manufacturers, retailers, and licensees, and this is just the start of a long-lasting trend.
Business Research Insights States Top 5 Brand Licensing Companies-
1. The Walt Disney Company (U.S.)
The Walt Disney Company, also known as Disney, is a global American media and entertainment conglomerate with its headquarters in Burbank, California's Walt Disney Studios. On October 16, 1923, brothers Walt and Roy O. Disney established Disney. As soon as animated films were released and the well-recognized character Mickey Mouse was created, the business positioned itself as a pioneer in the animation sector. By the early 1950s, the business had achieved significant success, and it had begun to diversify into live-action movies, television, and amusement parks.
2. Nickelodeon (U.S.)
The first cable channel for kids, Nickelodeon (commonly abbreviated to Nick) debuted on April 1, 1979, as a paid television service in the United States. The Kids and Family Group of Paramount Global's networks business is in charge of managing it. Its programming primarily targets kids between the ages of 2 and 17, while several of its programme blocks also appeal to a wider family audience. To develop a special, genuine, and imaginative relationship between fashion designer Marlou Breuls and SpongeBob SquarePants in a constructed, heritage, and sustainable story in 2020, Nickelodeon SpongeBob worked with Marlou Breuls.
3. Universal Brand Development (U.K.)
A company that believes in the limitless creativity of its followers, partners, and outstanding content creators as well as the limitless possibilities of the shifting world and culture around them is Universal Brand Development. A media firm of the future exists in a world where content, experiences, and technology are effortlessly developed together rather than separately. Additionally, they are pioneers in the newest fields of content delivery. They leverage these platforms to create content as well, raising the standard for entertainment for tech-savvy fans while also bringing franchise storylines to interactive life for players everywhere.
4. Major League Baseball (U.S.)
The oldest significant professional sports league in the world is Major League Baseball (MLB), a professional baseball league. [A] Major League Baseball will include 30 teams as of 2022—15 in the National League (NL) and 15 in the American League (AL), with 29 based in the USA and 1 in Canada. After the National Football League, MLB is the second-richest professional sports league in terms of income (NFL).
5. Iconix Brand Group (U.S.)
The fashion and home brands owned by Iconix Brand Group span every area of retail distribution, from the luxury segment to the mainstream market. Leading merchants and producers around the world receive licenses from the company to use its brands. Iconix is promoting and elevating businesses in the marketplace through both traditional and digital platforms with cutting-edge and innovative advertising and promotions.
Increased Brand Awareness and Demand for Licensed Items to Pose Opportunity
The marketplace will be driven during the forecast timeframe by expansion in the global materialistic industry, increasing demand for brand recognition, rising demand for licensed merchandise, and rapid expansion of e-commerce platforms. Market expansion is also fueled by the growing demand for licensed businesses to expand globally and to boost their revenue sources.
Additionally, the ability to access emerging industries and distribution channels as well as the increasing brand awareness amongst consumers are driving factors that are causing the market to expand quickly over the course of the projected period. Other factors influencing the market growth include the greater likelihood of various sorts of strategic collaborations, including co-branding, and the potential to develop a profitable revenue stream through licensing.