People visit Licensing Expo 2024 in Las Vegas, the United States, on May 21, 2024. (Photo by Zeng Hui/Xinhua)
"In fact, the global brand licensing industry once again performed better than the overall worldwide retail market, proving brands are a difference-maker," said Maura Regan, president of Licensing International.
LAS VEGAS, May 22 (Xinhua) -- Global sales of licensed merchandise and services reached 356.5 billion U.S. dollars in 2023, up 4.6 percent compared to 2022, according to a report released at the ongoing Licensing Expo 2024, the world's premier licensing trade show, held this week in Las Vegas, Nevada.
The report results are derived from multiple sources of market information as well as data reports from 45 countries and all seven major geographic regions. The analysis includes specific licensing data from 899 companies spanning the globe, according to Licensing International, a leading trade association for the global brand licensing industry.
"The global brand licensing industry shows no signs of slowing down. In 2023, consumers proved they are more loyal than ever before to the brands, characters, and properties they love," said Maura Regan, president of Licensing International.
"In fact, the global brand licensing industry once again performed better than the overall worldwide retail market, proving brands are a difference-maker," Regan said.
Licensing Expo 2024, running from Tuesday to Thursday, drew thousands of leading retailers, manufacturers and licensees from around the globe.
The expo provides opportunities to identify future trends and secure the rights to thousands of brands across sectors including TV and Film, entertainment, sports, gaming, publishing, automotive, art, and more.
For more than 40 years, Licensing Expo has connected the world's most influential entertainment, character, art, and corporate brand owners and agents with consumer goods manufacturers, licensees and retailers. ■
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