Tiered terrain: Licensee caution reshapes the landscape
The word risk is linked to licensing in much the same way peanut butter is to jam - the two seem like a natural combination. With any new property, getting the merch program off the ground is something of a crapshoot. You can have a fantastic show, the right broadcast placement, A-list licensees lined up, and the marketing machine generating buzz 24/7 - and it still might not work. But licensees, who are already well aware that this is risky business, are growing more cautious these days. And licensors that haven't cottoned on yet are in for a reality check.
November 1, 2004
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