People Profile: Mike Jerchower, President of Brand Aide
The global licensing community is powered by an incredible group of professionals whose diverse backgrounds and creative energy drive innovation and excellence. Each week we profile one of these professionals in this ongoing series.
How did you get into licensing (or how did licensing find you)?
I started my career as a brand manager for two NFL trading card companies. I then jumped to the video game industry and served as Director of Sports Licensing & Marketing for Acclaim Entertainment. I negotiated licensing agreements with all the major sports leagues and their player unions, while signing stars like Derek Jeter, Brett Favre, and George Foreman to endorsement contracts to promote the titles.
What’s a “typical” day in your current position?
As the licensing agent for consumer product manufacturers, including cosmetics supplier Beauty Creations and Perrigo’s Firefly kids’ toothbrush brand, I follow industry trends and suggest potential new properties that my clients should consider adding. After we select the candidates, I arrange introductory calls from my extensive network of licensor contacts and ultimately negotiate the licensing deal terms for the properties we move forward with. I have assisted my clients in securing deals with premier licensors like Disney, Paramount, Warner Bros., Sony Pictures, Mattel, Hasbro, Activision, Crunchyroll, and Viz Media.
What’s your biggest personal or professional accomplishment?
A major career highlight was being selected by Marvel management to ring the opening bell with colleagues at the New York Stock Exchange. We were joined by Robert Downey Jr. and Jeremy Renner to promote the theatrical opening of Avengers: Age of Ultron.
What are the most significant trends or changes that you’ve seen in the business in recent years?
A major business shift that I lament as a native New Yorker is how Southern California has become the de-facto headquarters for the entertainment licensing industry. For years New York City was a hotbed for entertainment licensors, but now the opportunities to break into the business have been significantly reduced due to corporate acquisitions and mergers, which led to numerous IPs relocating out west.
What keeps you up at night? What’s your biggest challenge these days?
Worrying if our eight-month-old puppy can make it through the night without having to go outside.
In your opinion, what is the top skill every licensing executive should have in order to succeed?
For licensors, if you treat your partners with respect you will maintain strong career connections. When it’s time to move on to something new, the reputation you have built will determine your future success. For new licensees, you need to understand you’re on the hook for the contractual minimum guarantee whether you sell one unit or one million units. Don’t mortgage your company’s future on that hot, trending property if you can’t afford the financial hit if your licensed product doesn’t take off at retail.
What’s the best piece of advice you’ve ever received, or what’s your favorite quote?
The best advice I received on the art of negotiation came from a former chairman. He advised me to never try to come off as the smartest guy in the room. He said you will be amazed by the amount of information people will reveal if you just sit back and let them speak, which you can later use to your advantage.
What is your favorite licensing deal of all time?
As Executive Director of Licensing at Marvel, I pursued a direct-to-retail agreement with Petco for four years. I delivered regular brand pitches to their team and scheduled annual in-person meetings at Licensing Expo to build a relationship. We finally put together a fantastic multi-character toy, accessory, and apparel display that landed in all their doors right before the Avengers: Endgame blockbuster film launch. Persistence does pay off!
If you weren’t in licensing, what would you be doing now?
I would delve into my past and anchor a daily sports podcast. I hosted a sports radio show in college and was a weekly NFL guest analyst for radio station KFAN Minneapolis early in my career.
The last licensed product I bought was…
After this holiday season, I combined a few eBay gift cards I received and purchased a 1956 Topps Willie Mays. A great addition to my baseball card collection!