The licensed merchandise and services industry generated US$356.5 billion in global sales last year, finishing up by 4.6% compared to 2022 (US$340.8 billion), according to a new report released today by Licensing International.

The New York-based trade org commissioned Brandar Consulting to conduct its ninth annual Global Licensing Industry Study, which surveyed 899 companies worldwide. The report highlighted that the entertainment/character segment was last year’s top performer, accounting for 41.4% of global sales (up 6.9% from 2022) and bringing in more than US$147 billion. Branded products based on films and TV series accounted for the largest share of the sales total at 42%, with characters featured in anime, video games and social media platforms driving 38%.

But it wasn’t just merchandise that performed well in 2023. The global box office was also strong last year. Ticket sales were up by 30.4% from 2022 to US$33.9 billion, even though this part of the industry is still recovering from the pandemic. And 2023’s annual take was only 15% below the average from 2017 to 2019. 

Meanwhile, licensed toys experienced the biggest decline of all product categories that LI measured. This segment’s US$41.3-billion global sales tally was off by 3.5% compared to 2022, but it still managed to outpace the broader toys and game market (both licensed and non-licensed products), which experienced a 4.5% sales drop during the same period. According to additional data from Circana, licensed toys now comprise 32% of the global toy market, which is up from 25% back in 2019. 

E-commerce also exhibited growth last year and was responsible for 37% of all licensed merch sales. This is up by 7% from 2022 and 3% from 2021, with brick-and-mortar retailers accounting for the remaining transactions.