Circana Unpacked
#174 - Licensing’s Growth Opportunity
This episode isn’t summarized yet
Create a free account and summarize it. In a few minutes you’ll have the key takeaways and a section-by-section summary.
Show notes
Globally, licensing is a $365 billion business. The U.S. comprises about 60% of the market. Kristen McLean, senior executive director, The Circana Entertainment Knowledge Group, takes listeners into the world of licensing. Hear insight into the elements of successful licensing deals and what to consider when partnering with another brand.
Highlights:
- There are four main types of licensing: character, personality or lifestyle, co-branded, and limited-time offer (LTO).
- 11% of licensing involves food, both CPG and foodservice.
- Successful licensing should include brands that overlap in appeal, but also work to expand the audience for both brands.
- Before diving into licensing, validation is critical. Consumer research can help ensure a licensing idea resonates with the target audience.