Hong Kong Immigration: The "Hong Kong Licensing Awards 2015," organized to promote the local creative industry and drive the vigorous development of the licensing sector, held its launch ceremony on the 25th. Industry professionals believe that the licensing sector plays a vital role in the creative industry and hope that Hong Kong universities will strengthen relevant training.
The "Hong Kong Licensing Awards" is organized by the Asian Licensing Association, sponsored by the HKSAR Government's "Create Hong Kong," and supported by the Hong Kong Productivity Council. This is the first licensing industry award in Hong Kong covering creative content, aiming to help the licensing and creative industries understand the value of brands, encourage local designers to expand their businesses, assist small and medium-sized enterprises in upgrading and transformation, and provide business opportunities for industry development.
Chen Limai, founding president of the Asian Licensing Association, stated that the licensing industry is hailed as one of the most important business models of this century and is a global trend, with China being one of the fastest-growing markets for the global licensing industry. According to unofficial statistics, global retail sales of licensed products reached $220 billion in 2014, with mainland China accounting for $7 billion of that total.
In Hong Kong, the licensing market began to take shape in the early 1990s. As a shopping and entertainment destination in Asia, Hong Kong has attracted numerous sports brands to develop licensing businesses locally. In addition to selling merchandise, the English Premier League team Manchester United partnered with a Hong Kong licensing agent in 2010 to open a themed restaurant.
However, there are not many locally developed brands and licensing projects in Hong Kong. Chen Limai noted that in the past, Hong Kong industry professionals did not have a comprehensive understanding of the scope and development prospects of the licensing industry, which indirectly limited the development of Hong Kong's licensing sector.
"If the creative industry is to grow larger and stronger, it cannot miss out on the licensing sector." Using some overseas animated films as an example, Chen pointed out that the ratio of box office revenue to licensed product revenue is 3 to 7, reflecting that the licensing industry is a significant source of income. As the "Hollywood of the East," Hong Kong can strengthen the development of the licensing industry in the film sector.
He stated that Hong Kong possesses a simple tax system and an independent judicial system, and its intellectual property laws are very comprehensive, which helps Hong Kong develop into an international intellectual property hub, thereby promoting the creative industry and facilitating the development of the licensing sector. He hopes that universities will cooperate in providing courses related to the licensing industry to train more professional talent in the future.
The organizers hope that the "Hong Kong Licensing Awards" can open up broader overseas markets for the local original industry, enhance Hong Kong's overall competitiveness, and establish Hong Kong as the best licensing hub in Asia.
According to reports, the "Hong Kong Licensing Awards 2015" features 6 categories, including "Best Licensed Brand Award," "Best Licensee Award," "Best Licensing Agent Award," "Best Licensing Promotion Campaign Award," "Best New Licensed Brand Award," and "Best Original Licensed Character Design Award." The organizers will hold the award ceremony in January 2016.