Lego grew to be the world’s largest toymaker by appealing to many different kinds of customers, from kids and collectors to corporations looking for fun team-building activities. The Danish company manages to reach lots of people by licensing popular properties like Stars Wars and Marvel for a range of content like movies, TV shows, and video games. This video looks at how Lego drives toy sales by branching out into entertainment that reinforces its brand and grows its customer base.
Questions:
- How does Lego benefit its toy business by producing movies, TV shows, and video games?
- What role does licensing play in Lego’s business strategy? Do you think the company would be as successful as it is today if not for the popularity of properties like Star Wars and Marvel?