Brand licensing often goes hand in hand with great entertainment IP. So, what do you need to know about this fast paced industry? Award winning licensing agent Caroline Mickler offers her expert insights in our latest ‘Connections’ blog.
The landscape in which kids entertainment and the parallel world of brand licensing sits is changing rapidly. The changes are not only happening where children are searching for and viewing content, but also in the way they look for merchandise associated with their favourite characters.
The retail space is also evolving at a rapid pace. While the traditional bricks and mortar stores are still dominant, online spend is ever increasing. Competing for space in the traditional retail store is becoming harder for small or new kids entertainment brands as shelves are often dominated by large production companies’ merchandise. Online retail becomes an important player for the smaller companies to gain ‘space’ for consumers to find their brands.
As online spend grows, high street stores need to create a reason for people to bring their children into stores. Companies like The Entertainer and LEGO are good examples of how retailers are adapting to this by creating a sense of theatre. When you enter the Leicester Square LEGO store in London, it is not the boxes of the latest LEGO that draws you in, but rather the chance to take your photo in the life size LEGO underground carriage or play at the ‘Pick and Build’ wall. Major toy retailer, The Entertainer, regularly has toy demonstrations and character visits to their stores to keep customers coming back.
Keeping up with the trends
It is not only in-store theatre that is important, but also being quick enough to recognise the latest trend such as fidget spinners or slime. These can be successful married up with your IP. Understanding where kids are consuming content or finding the latest trends is now vital for the children’s licensing industry and moving on with these trends as quickly as the kids do is also a necessity.
While linear TV is still an important player in brand building and awareness for entertainment properties, the way the children are consuming these shows is moving more toward SVOD, and user generated content across a multitude of platforms. The rise of ‘kid influencers’ on YouTube creating ‘unboxing’ content of new crazes and toys is on the increase. Social platforms are not only generating the rise of the kid influencer but also the rise of user generated content. Children are able to snap, video and create their own content on platforms such as PopJam, SnapChat and Musical.ly, creating a whole wave of content that traditional kids entertainment properties are also now competing with for ‘eye balls’ and engagement.
One way retailers and the licensing industry have been able to become part of this fast-paced kids entertainment space is through personalisation. Examples include companies such as LEGO creating the in-store ‘Mosiac Maker’, or Evode group working with toy retailer, The Entertainer to create personalised branded products online and delivered to the store for collection. Online, the children’s digital brand, Bebods give kids the chance to create their own character and share their world via the PopJam platform.
The future is certainly up for grabs by the agile in the industry.