Licensing Royalties Drop in 2009
June 9, 2010,
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.
"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.