Revenue generated by the licensing business rose 3. 3 per cent last year to total $271.6bn, according to results from the Annual Global Licensing Industry Survey.
Released by LIMA, the report indicates that royalty revenue from sales of licensed merchandise and service also rose 2.6 per cent to $14.5bn.
Character and entertainment licensing remains the largest industry category, accounting for $121.5bn, or 44.7 per cent of the total global licensing market. Meanwhile, corporate and brand trademarks generate $55.8bn in retail for 20.5 per cent of total revenues.
Fashion falls in at third place with $32.1bn and sports in fourth with $26.5bn.
Some of the most significant growth, however, came from property types that play smaller roles in the overall business, including publishing-based properties and art licensing.
Music and Celebrity categories saw growth reflective of the ‘influencers’ effect as more social media trend-setters build their own brands.
The US and Canada remains the largest market for licensed merchandise and services, with revenue accounting for 58 per cent of the global total.
“The 2018 survey results confirm the momentum of licensed product sales worldwide, with growth coming from both traditional and emerging categories,” said LIMA president, Charles Riotto.
“This year’s results speak to the reach and value of the licensing business in growth markets around the world, contributing to the sustained strength of our industry.”
Among product categories, growth was widespread in 2017. Apparel, toys and fashion accessories continue to account for the largest shares of the business, while casino gaming increased by 9.6 per cent, as a greater number of licensors seek to expand into more non-traditional categories.