The concept of entertainment-based permits and licensing is fast gaining acceptability in India. Many global labels are preparing 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. Companies from various industry sectors, including apparel, consumer goods, toys, gifts, accessories, sports are keen on taking licenses. The entertainment industry is not far behind.
Earlier, the owners of home-grown brands had limited their focus to core functions, but today, licensing could help them extend their brand visibility. According to a report, retail licensing in India was estimated at $1.26 billion in 2018 with entertainment licensing valued at $406 million.
Celebrity licensing is leading the race. Indian film stars are evolving their licensed merchandise. From Salman Khan’s Being Human to Hrithik Roshan’s HRX, all have begun competing with international brands in the clothing and apparel sections. Shahid Kapoor’s SKULT along with Deepika Padukone’s All About You are also great examples of budding franchises whose merchandise are gripping the market. With the launch of Alia Bhatt’s “eponymous” fashion line, all are supporting the model to stay ahead of the stardom curve.
Say how Hotstar is leveraging the favourite TV characters to attract the audience, or Sony Network has jumped on the popularity of their beloved quiz show ‘Kaun Banega Crorepati’. Humour and entertainment licensing have witnessed terrific popularity and attraction, increasing TRP ratings boomingly.
Hindi cinema might have a hard way to go for struggling with its western counterparts who have so efficiently brought about the trend of merchandising as an earning rather than just a publicity medium. Giving examples of recent accomplishments like Baahubali, Sacred Games and Gully Boy, Jatin Varma, the Founder of Comic Con India expressed that the interest in regional content has expanded over the times.