Global Licensed Merchandise Sales Top Last Year's Numbers by $10B
Thanks to blockbusters like "Star Wars Episode VII: The Force Awakens" and "Minions," Marketplace reported that global retail sales of licensed merchandise are up approximately $10 billion over last year, according to a report by the Licensing Industry Merchandiser's Association (LIMA).
The study included sales of toys, apparel, games and any other items that referenced TV shows, sports teams, movies, etc.
Brian Sheehan, a professor of advertising at Syracuse University, told Marketplace that the key to sales for movies, like "Minions," is the ability to appeal to young fans.
"[Minions] are, in and of themselves, outrageously cute," Sheehan told Marketplace. "There are times, like [with] "Minions," when you can have something that works, in and of itself, that works as a doll whether there was a movie or not."
We saw similar booming sales this year with "Star Wars" memorabilia, like games, dolls and remote-controlled droids.
The widespread ability to license items creates more and more opportunities for merchandisers to make big sales when movies crush it at the box office.