MUMBAI: The world’s biggest brand owners have turned emotional connections into cold, hard cash. Disney sits atop a licensing empire worth $62 billion in retail sales, nearly doubling the revenue of its closest competitor as the global licensing market surged to over $307 billion in 2024—a tidy $26.7 billion increase from the previous year.
License Global’s annual rankings reveal an industry that thrives on nostalgia, fandom and the human need to belong. While economic uncertainty grips consumers elsewhere, licensed products—from Pokemon pyjamas to Marvel mugs—continue their relentless march through shopping baskets worldwide.
The top ten licensors generated $208bn in retail sales during 2024, up from $192 billion in 2023. Over the past five years, these corporate titans have collectively raked in more than $1 trillion, proving that emotional attachment trumps rational spending when wallets tighten.
Disney’s dominance reflects the mouse house’s unrivalled stable of beloved characters spanning generations. But the chasing pack tells a different story. Authentic Brands Group, which corrals sports and lifestyle brands including David Beckham and Champion, claimed second place with $32bn. People Inc (formerly Dotdash Meredith) rounded out the podium with $26.7 billion, followed by NBCUniversal at $17 billion.
The full top ten includes Hasbro ($16.1 billion), Warner Bros Discovery ($15 billion), The Pokemon Co International ($12 billion), Bluestar Alliance ($10 billion), Mattel ($8.8 billion) and Japan’s kawaii kingpin Sanrio ($8.4 billion).
“What is remarkable about this year’s report is how it demonstrates the resilience of emotional connections in consumer decision-making,” says License Global content director Ben Roberts. Even as economic pressures mount, consumers prioritise brands that matter to them personally, creating loyalty that transcends market forces.
The data suggests a generational handover is brewing. Millennials currently lead licensed product purchasing at 28 per cent, but Generation Z is expected to seize the crown in 2025-26, while Generation Alpha grows to 22 per cent relevance. Fashion dominates growth categories, with 70 per cent of brand owners highlighting apparel as a key opportunity, followed by toys and games (54 per cent) and food and beverage (52 per cent).
The industry’s expanding reach is evident in its newcomers. First-time entrants include Lego, Legendary Entertainment and Gordon Brothers, reflecting licensing’s broadening appeal as brands seek deeper consumer relationships.
As digital platforms reshape commerce, successful licensors are building integrated experiences across physical, digital and hybrid channels. Brands with agile strategies on Roblox, TikTok and social commerce platforms are positioning themselves to lead the next wave of consumer engagement.
The licensing juggernaut shows no signs of slowing. In an era where consumers crave authentic connections, brands that can tap into personal identity and shared experiences have found the ultimate recession-proof formula.
