Sales of licensed products in the US and Canada in 2013 are up for the third year in a row, according to LIMA's Annual Licensing Industry Survey.
Sales are up to an estimated $5.655 billion in royalty revenue in the US and Canada, translating to $115.75 billion in retail sales, an increase of 3.3 per cent and 3.25 per cent, respectively, above 2012 levels.
Leading the increase are the licensing industry’s five largest categories, character, corporate trademarks, sports, fashion, and collegiate, which, together, represented 94 per cent of the overall licensing revenues in the territories in 2013.
“Licensing activity enjoyed strong growth in 2013, reflecting the importance of licensing as a business and marketing tool,” said LIMA President Charles Riotto.
“Our industry and our members continue to strategically leverage the equity of their brands, characters, and intellectual property with even more creative and robust licensing programs that successfully connected with consumers and drove healthy sales.”
The report, which was researched and assembled by a team from the Yale School of Management, is now available free to LIMA members or can be ordered for $295 by non-members at www.licensing.org.