Licensing Royalties Drop in 2009
LAS VEGAS-The International Licensing Industry Merchandisers' Association (LIMA) reported that revenue from licensing royalties fell 8.7 percent in 2009, totaling $5.2 billion. The Licensing International Expo opened yesterday in Las Vegas.
A LIMA statement cited the "weak consumer-spending climate at retail" as the prime cause for the declines. "These results are not surprising as consumers continued to limit their spending on non-essential products for most of 2009," said Charles Riotto, LIMA's president.
Last year marked the second straight year of declining royalty revenues.
"Looking ahead, as the economy continues to improve and retailers' inventories come back into balance, I am optimistic that we are poised for improvement as we see our members exploring new and different opportunities and partnerships to ensure future growth," Riotto said.