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People Profile: Nicolas Weinstock image

People Profile: Nicolas Weinstock

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’ll be profiling one of these professionals in this ongoing series developed in partnership with MyMediaBox.

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How did you get into licensing (or how did licensing find YOU)? When I was at Boston University, I interned my sophomore year at the LA licensing division of IMG Worldwide. What originally began as a traditional internship evolved into something much more compelling and significant. I developed firsthand experience on how the power of licensing can grow a client’s name into a global branded business, whether you’re managing an athlete, celebrity or motion picture actor. More importantly, I was captivated by the combination of balancing creativity and business in the day to day. Thereafter, I was hooked and knew that this was going to be my career path.

What’s your biggest personal and professional accomplishment? In 2019 while I was working at MGA Entertainment, my licensing team and I helped fully develop “L.O.L. Surprise!” into the world’s #1 toy and license of the year.

What are the most significant trends or changes that you’ve seen in the business in recent years? The retail industry has a taken a huge nosedive with the emergence of consumers turning to ecommerce online sales. A big change will be for brands to more fully and robustly develop a DTC strategy if they want to meet the demand of modern consumers.

What keeps you up at night? OR What’s your biggest challenge these days? Covid, Covid, Covid keeps me up at nights, but the biggest challenge that our industry faces is differentiation. With the proliferation of multiple streaming services and an almost overwhelming amount of new content, there is a stronger competition for shelf space, especially for evergreen properties. We’ll need to get innovative as we rethink current approaches and look to develop new and more compelling ways to grab a consumer’s interest.

What is the best piece of advice you ever received? OR What is your favorite quote?   My favorite quote came from my salesman grandpa who used to give me sales advice, “just stack them high, and let these SKU’s fly!” He never really dreamed of ecommerce, though…

What is your favorite licensing deal of all time? (doesn’t have to be one that was signed by you). One of my favorite licensing deals and one of my all-time beloved shows is The Simpsons, and the promotion with The Simpsons Movie. Back in 2007, 7-Eleven partnered up with Fox and converted 11 of its stores into Kwik-E-Marts! Not only did this help promote the movie, but it resulted in a 30% increase in profits for the transformed 7-Eleven stores.

The last licensed product I bought was… A Harry Potter Lego set. While quarantined at home in early 2020, there was no better way to spend hours than reliving my childhood.

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