By Elisabeth N Wilkes, on 15 June 2016
This next department is not one often thought of when people enter publishing, but it is one that is growing. Licensing is a segment of the industry where either books’ merchandising rights are negotiated with companies, or a publisher buys the rights to turn products, such as films, tv shows, or toys, into book products. This has become a growing segment of the publishing industry. According to Claire Somerville, the Deputy Manager Director at Hachette Children’s who gave a lecture on licensing to our class last term, the licensing industry was worth £10.2bn in the UK in 2015.
Merchandising has been a major source of revenue for the publishing industry, not to mention a major component for the spread of book culture and brand awareness. If the following sounds like you, perhaps you should give this part of the industry a little more thought.
- You are a culture buff– Perhaps you really like books, but also love your Netflix and movie nights just as equally. This is a great section of the industry where that love of other mediums really comes in handy. You will be poised to make better judgments as to what is worth buying and who is worth selling to.
- You like fandom culture– Not only are you all about different types of entertainment, but you love to go on Pinterest and collect pins of someone who has made their own Harry Potter mix-drinks. You will be a better judge of which brands are likely to get people excited and what types of products fans would enjoy the most.
- You are especially interested in children’s publishing– This is where licensing is the most versatile and most lucrative. You can work with companies to produce merchandise that older fans are less likely to purchase, such as toys, sticker books, board games, and the candy. It’s an exciting way to make the younger readers more obsessed with your publisher’s stories or characters.
- You can ‘sense’ the next big thing– Are you constantly finding yourself saying, “I liked such and such before it was cool”? Are you amazed at how often the shows you love suddenly get really popular? This sense is incredibly important for people working in licensing, especially for books, which take longer to produce and put out than a doll or a shirt. Being intuitive of what could be big allow you to strike while the iron is hot and not miss the boat, only to be stuck with books and products that are no longer popular.
Licensing can be a fun way to spread your publisher’s stories that goes beyond the pages of the book. While it is a fine line between “selling out” and creating extended interest, it can be fun to work on building an extension of these books.
Well, this is the last section I will be discussing for this blog. There are other sections of the industry, so always explore to see what will be best for you. I do hope that these monthly posts have given you something to think about when you go job searching though. It has been a great year and I am happy to have shared what I have learned for aspiring publishers. There is much more to Publishing than being an editor, so be sure to be open minded about what part of the industry you want to enter.