Licensing Expo: Sports Brands Are Here, But Where Are the Leagues?
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We’ve seen many brands that consumers truly love on display at the Licensing Expo this week. However, few brands inspire as much passion, exhilaration (and yes, sometimes heartbreak) as those of major league sports teams.
This year there is an expanded lineup of sports brands exhibiting. The Major League Baseball Players Association is represented, as are NFL Players Inc. and Tottenham Hotspur Football Club, a popular soccer team from England’s Premier League, among others.
The reason for the uptick is simple: In 2014, sports-related products made up more than 14% of all retail sales of licensed goods, to the tune of $14.1 billion in sales, according to industry association LIMA. The sports category grew for the fourth consecutive year with $698 million in royalty revenue in 2014. Sports merchandise is set to remain a billion-dollar moneymaker for years to come. With consumer interest trending upward, the leagues and their licensees must innovate to turn fan devotion into revenue.
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