Laika is taking control of licensing and merchandising for its bevy of characters from its films a Kubo And The Two Strings, The Boxtrolls, ParaNorman and Coraline by hiring Striker Entertainment LLC to serve as its worldwide licensing agent. Laika has been around since 2005 but this is the first time that it has hired a company to concentrate on licensing and merchandising out its many characters.
This means that consumers will start seeing characters from Laika movies heading into toy stores, retail outlets and even new digital and interactive games. The consumer product arena is so essential for animated properties in that licensing/merchandising can create new and significant revenue streams.
The characters that have been created by Laika has the potential of rivaling consumer products that of, say, Tim Burton’s The Nightmare Before Christmas, which to this day — 24 years since the stop-motion animated film was released — is still moving off the shelves.
Striker Entertainment, a California-based company, worked on the consumer programs for Hunger Games, The Twilight Saga, Angry Birds and Candy Crush to name a few.
This move apparently came about after Laika got a taste of the revenue potential from sales in the shop at Universal Studios Hollywood (previously Uni handled).
“If recent robust results from sales at our shop at the From Coraline to Kubo: A Magical Laika Experience exhibit at Universal Studios Hollywood are any indication, we are looking at a significant new revenue stream for the company, said Brad Wald, Laika CFO and head of business operations. “In the near future, Laika;s products will be available in various retail outlets and channels as well as on our website.”
This all-important, revenue-generating initiative for the company is being overseen by Wald who joined Laika last year; prior to that he managed NBCUniversal’s successful commercial activities for Downton Abbey.