People Profile: Rachit Moti, CEO and Founder of Layer Licensing
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’re profiling one of these professionals in this ongoing series.
How did you get into licensing (or how did licensing find you)?
I grew up obsessively playing video games and loving all aspects of the industry, so I’ve always wanted to find a job in it. I started working for a variety of software startups but spent my spare time playing drums in an indie band, which eventually ended up licensing a song into a video game. It wasn’t a smooth process and was way more complicated than it needed to be, which led to me realizing that the licensing industry wasn’t working as well as it could be with the videogame industry. This got me thinking about how we could improve the space for both sides. Fast forward to today and I’ve realized my dream of working in the games industry and, better yet, I’m lucky enough to work with the world’s biggest and best licensors, helping them to navigate the gaming industry as we do more deals with the best-selling games.
What’s a “typical” day in your current position?
As founder/CEO of a rapidly growing startup, my day-to-day can vary significantly, but the common thread is I’m always speaking to our customers and partners as much as possible. That includes everything from helping a new licensor onboard onto Layer and making sure we know what they’re looking to achieve in videogames, to getting on a call between a licensor and a game publisher to get a contract over the line.
What’s your biggest personal or professional accomplishment?
Definitely what we’ve built at Layer. Layer has grown from an idea in 2021, to now being used by over 85 licensing teams and over 550 of the world’s leading game developers and publishers. We’re glad to be championing change in the industry and guiding licensors to new audiences in games that excite their fans, and it’s amazing to be surrounded by an amazing team comprising everything from super-smart product and engineering wizards to licensing experts and marketing professionals.
What are the most significant trends or changes that you’ve seen in the business in recent years?
The biggest change is definitely the growing focus on in-game integrations. Ten or 15 years ago, the bulk of licensing in games was focused on games built around an IP (for example, a new Star Wars game). Today, however, the biggest games in the world collaborate with IPs for in-game integrations ranging from licensed outfits and weapons to in-game concerts and events. Licensors have embraced this as many of these games have massive existing audiences and already monetize, so there’s a lower risk level to the deals and they can also go to market quicker. I encourage any licensor who wants a presence in video games to build a strategy around integrations.
What keeps you up at night? What’s your biggest challenge these days?
The licensing industry moves a little slower than the videogame industry. We’re always spending time educating licensors on the opportunities in games, but this can be challenging at first when we’re speaking to someone who isn’t familiar with videogames. Thankfully, we’ve been able to help licensors understand that the games market is made up of tens of thousands of prospective licensees all around the world with massive audiences.
In your opinion, what is the top skill every licensing executive should have in order to succeed?
Adaptability. If you represent a brand or IP, you’re effectively the custodian of the property and are in charge of making sure it’s represented well in markets where the audience and fans are. The best and most successful licensing teams we work with are the ones that are always asking us “what’s next in games?” or “how can we enter this space and have genuine optimism about the space?”. Those who experiment early are often the ones who get the advantage of fan and player attention in new spaces where other brands are yet to be.
What’s the best piece of advice you’ve ever received, or what’s your favorite quote?
When it comes to building a company like Layer and shaping the future of the licensing industry, you need incredible amounts of optimism to create lasting change. I find the best way to stay optimistic is to create your own luck. As Thomas Jefferson once said, “I find that the harder I work, the more luck I seem to have.”
What is your favorite licensing deal of all time? (It doesn’t have to be one that was signed by you.)
We run a monthly Licensing in Games newsletter on the Layer website, which recaps all our favorite deals. If I have to pick a favorite, I think it’s The Witcher franchise. What started as a fantasy book series that sold relatively well in Poland and Central Europe was licensed by CD Projekt Red into an incredibly popular videogame series, with The Witcher 3 selling over 50 million copies and being regarded as one of the greatest games ever made. Off the back of the popularity and success of the game, we’ve of course seen the Netflix adaptation, as well as board games, musicals, and more. It’s an incredible example of how much depth and extension games can add to a franchise, and how that can accelerate the property’s success overall.
If you weren’t in licensing, what would you be doing now?
Definitely working in videogames! Games are incredibly technical, gargantuan pieces of work that bring together the world’s most creative engineers, artists, developers, and more to ultimately serve the fans and players. They’re our most immersive and engaging art form and tell stories in truly interactive ways.
The last licensed product I bought was…
A Care Bears plush! We’re so glad to work with the CloudCo Entertainment team, and I love trying to get my hands on some of our partners’ licensed products.