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Exploring the Scope of Entertainment Licensing in India


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The concept of licensing is fast gaining acceptability in India. Multiple international brands are planning to cater to this highly diversified market via licensing and merchandising to expand the scope of their IPs and tap the potential customer-base of 1.3 billion. Earlier, the owners of home-grown brands had limited their focus to core functions but today, licensing could help them extend their brand visibility.

It is the time when the attraction of licensing trademarks for business intentions appears to be at an all-time high. While the penetration of data has raised the nation’s awareness about this interesting business aspect, the emergence of modern and more organized retail in the country has set the ball rolling for new collaborations between International Licensing companies and Indian business houses.

Licensing prospects now exist in all spheres in India. Manufacturers from various industry sectors including apparel, consumer goods, toys, gifts, accessories, sports are keen on taking licenses. The entertainment industry is not far behind. According to a report, retail licensing in India was estimated at $1.26 billion in 2018 with entertainment licensing valued at $406 million.

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India’s Entertainment industry constitutes nearly 5 per cent of the global licensing and merchandising market. While small but India makes for a significant portion for every superhero franchise to provide the market with figurines or branded accessories. Until last year, Indian brands made up less than 10 per cent of licensing and merchandising activity in India. The numbers are catching up.

“The owners of intellectual properties (IPs), including major cartoon, entertainment and corporate brands, are keen to enter the Indian markets,” License India Chairman, Gaurav Marya had earlier told IANS. Despite Hollywood and US pop culture ruling the licensing trends, production studios have started putting their weight behind popular

Article source: https://www.entrepreneur.com/article/335318

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