“Rising Above the Turkey Illusion”: How the German Licensing Summit 2024 is Steering the Industry Towards a New Future

With great anticipation, the industry awaited the Licensing Summit 2024. Since Ute Stauss took on the role of Managing Director Germany at Licensing International in February, many have wondered how the association would develop under her leadership. What new offerings would it create for German members? And which central events would be established or supported to foster networking and exchange? The summit itself provided an initial answer to these questions and offered an impressive start.

A New Era with “Connecting Ideas. Creating the Future.”

After the official welcome by Ute Stauss, Petra Strobl, who is reshaping the association's communications in Germany, took over the day’s moderation. She welcomed the participants and guided them through the varied program. Maura Regan, President of Licensing International, also addressed the German participants and began her talk with a humorous introduction that made the audience chuckle: “I didn’t vote for him,” she began, referencing international political challenges, before adding with a wink that Germany, too, is currently facing political uncertainties.

Keynote Highlights

Experts from various sectors brought fresh perspectives to the stage:

• “Untethered – Home EURO 2024: DFB Licensing Insights on Products, Branding, and Content”: Fritz Frank, Head of Licensing at the German Football Association (DFB), offered insights into the DFB's licensing strategies for the EURO 2024, showing how the association is positioning itself for this significant event.
• “E-Sports: How the Business of Success Works and Where the Potential Lies for Licensing and Brand Collaborations”: Erwin del Castillo, Head of Consumer Products at G2 Esports, and Sabrina Ratih, COO of G2 Esports, shared an inside view of the thriving esports market, explaining how licensing partnerships and brand collaborations drive success.
• “Cosplay: The Power of Heroes”: Pop culture expert Nastassja Köhler, CEO of Creative Exhibition Promotions, discussed the power of the cosplay community and the cultural impact of hero figures, underlining how cosplay has become a dynamic part of the licensing industry.

• “Big Kids, Big Business – How Kidults are Shaking Up the Toy Market”: Verena Urbschat, Director of Visitor & Exhibitor Marketing at the Spielwarenmesse, provided insights into the rising “kidult” trend, which has been energizing the toy market as adults become a key demographic for toy companies.
• “The Future of Retail: Is the Industry Ready for What’s Next?”: Retail experts Prof. Dr. Carsten Kortum of the Baden-Wuerttemberg Cooperative State University and Dr. Eva Stüber from IFH Cologne discussed the challenges and innovations shaping retail’s future.

Dr. Marc Schumacher’s Closing Keynote: Overcoming the “Turkey Illusion”

In a compelling closing keynote, Dr. Marc Schumacher captivated the audience with his concept of the “Turkey Illusion” and the “Experience Economy.” With sharp insight, Schumacher shed light on consumer behavior’s rapid transformation and the implications for the retail and licensing industries. Schumacher did not hold back from delivering “hard truths” that elicited both fascination and concern among attendees. One of his bold statements: “There are no leading media outlets anymore.” Schumacher emphasized the impact of this on both society and business, offering solutions for companies to adapt.

Key points from his keynote included:

The “Turkey Illusion”: A Trap for Businesses
Schumacher warned against the “Turkey Illusion,” a tendency for companies to rely on past successes without adapting to changing realities. Like a turkey that’s fed daily and feels secure, companies can be caught off guard by sudden market shifts or crises if they fail to innovate and stay alert to change.

Technology and the Inflation of Expectations
Schumacher addressed the “inflation of expectations” driven by digital services like Netflix and Amazon, which have accustomed consumers to instant gratification. While digital platforms often meet this demand, traditional retail struggles to keep pace, leading to a disconnect between consumer expectations and actual experiences.

The Fragmentation of the Internet and the Loss of Shared Values
The internet, Schumacher argued, has fragmented into countless niche communities. Unlike in earlier years, there are no universal media sources to provide a cohesive narrative. This splintered digital landscape erodes trust and makes it challenging for brands to create genuine connections with consumers.

Community and Belonging as New Values
Schumacher highlighted the rise of the “Next Generation Consumer,” who values belonging and community over mere utility. Brands that foster authentic connections are poised for long-term success. However, he cautioned against overusing the term “community” and stressed the importance of cultivating genuine tribes bound by shared values.

Multi-Sensory Experiences and the Value of Physical Spaces
Schumacher emphasized the unique power of physical retail spaces, which can engage consumers’ senses in ways digital experiences cannot. He even suggested that physical retail spaces could charge admission for exclusive experiences that set them apart from online retailers.

The “Experience Economy” as a Gateway for the Licensing Industry

The “Experience Economy” is on the rise, Schumacher noted, with younger generations willing to spend more on meaningful experiences rather than products alone. He pointed to Taylor Swift’s record-breaking tour as an example of how events can drive economic growth. For licensing, Schumacher argued, this opens exciting possibilities: brands can offer immersive experiences that create deeper connections with fans.

Evening Networking Event and Industry Reactions

The evening program, supported by Paramount and an additional sponsor, included a memorable spin on the world’s largest mobile Ferris wheel, the UMADUM, where attendees enjoyed Munich’s skyline in groups. This was followed by a lively evening at the bar, with dinner and more networking opportunities, creating an ideal environment for industry connections.

The feedback from attendees was overwhelmingly positive. One participant praised the day’s sessions and networking opportunities, noting the exciting momentum building within Germany’s licensing industry. Another attendee described the event as a “fantastic opportunity” to connect with colleagues and was particularly impressed by the evening program.

Ute Stauss, Managing Director Germany at Licensing International, summed it up perfectly: “The Licensing Summit 2024 at Munich Hoch5 exceeded all expectations – fantastic spirit, wonderful people, great energy, and plenty of mutual appreciation. We’re excited for future collaboration with our members!”

Licensing International Germany expressed appreciation to all participants and sponsors, emphasizing how the event succeeded in “creating relevance” for the industry while fostering invaluable connections. The Licensing Summit 2024 proved to be not only an informative event but also a unifying platform, encouraging the German-speaking licensing industry toward a dynamic future.

This article was translated from German using ChatGPT. The BRANDORA Feature Article Service is a platform specializing in topics related to the licensing industry. Once a month, the "Licensing Post" editorial team dedicates itself to an expert topic, which is thoroughly researched and explored. The team poses questions and seeks answers to provide a comprehensive view of the subject. It is not just about the hard facts but also about the opinions and perspectives of industry experts and stakeholders.

The goal is to foster dialogue within the industry and address significant topics relevant to the future of licensing. The BRANDORA editorial service sees itself as an independent platform that reports on and discusses topics objectively and critically. Both positive and negative aspects are examined and questioned.

Written by our editor, Yvette Vaessen