By Marty Brochstein

About 25 years ago, I sat in a conference room at EPM Communications with Ira Mayer, Publisher of The Licensing Letter, to discuss becoming its editor. I didn’t know much about the business, other than the little I’d gleaned reporting on such industries as toys and videogames.

But he soon offered me the job; I accepted before he could rethink it. Not long after, I was walking the aisles of Licensing Show at the Javits Center, being advised by my predecessor Karen Raugust about an important skill I needed to develop – the ability to interact with large fuzzy characters without feeling like an idiot. (Well, perhaps “idiot” wasn’t the word…)

The journey that started then brought me next to LIMA (now Licensing International) 12 years ago, and now hits a new phase, as I turn the page toward a new adventure .

In communications and technology terms, that 25-year journey has stretched from the early days of the World Wide Web to the infancy of the metaverse. The licensing business is one of constant reinvention and adaptation, and the months and years ahead offer challenges and opportunities in such areas as sustainability, NFTs, streaming platforms and print-on-demand. (And that’s without even mentioning the broader global questions of supply chain and, hopefully, navigating a post-pandemic “new normal.”)

In retailing terms, it’s the difference between trying to manage brands via strategies for discrete brick-and-mortar tiers and today’s environment in which everybody is coming at the consumer – manufacturers, brand owners, “traditional” retailers, eCommerce specialists, etc. – via a plethora of marketing channels. (The thought has occurred to me that for all the talk about omnichannel, eCommerce and 360° marketing, brands and licensees need to make sure they don’t forget to have a ­physical store strategy; despite the hype — and I’m as guilty of focusing on it as anyone else — “IRL” still accounts for well over half of what shoppers buy.)

The marketing fundamentals remain the same – having the right product, in the right place, at the right time, and at the right price. But that classic formulation omits another key element: a story that generates some emotion – trust, humor, adventure, nostalgia, envy, or something else. Without that emotion, a brand is meaningless, not worthy of a royalty.

In closing, a few notes of gratitude:

• To the aforementioned Ira Mayer (and wife/business partner Riva Bennett) for bringing me into the licensing sphere, and for their mentorship, wisdom and friendship.
• To my coworkers at LIMA/Licensing International – past and present — for teaching me new skills, pushing me out of my comfort zone and giving me new ways to look at things even as they put up with some of my more curmudgeonly tendencies. And sorry, Maura. I’ll never lose “the face.” It’s why I don’t play poker.
• To those in the industry who over the years have generously taught me the business and given me the benefit of their opinions and experience – even sometimes when I didn’t necessarily want to hear it!
• And to everyone who I’ve successfully cajoled, nagged, begged and otherwise harassed into participating in webinars, Licensing U sessions, CLS and other educational events. I hope you appreciate the contribution you’ve made toward a more professional, vibrant industry.

I’ll still be keeping my hand in the licensing business, whether via writing, projects or some other activities. (I can be reached at marty.brochstein@gmail.com.) I look forward to this next phase.  A Happy and Healthy New Year to all!