Brand for family entertainment

Mr. Ross Walker

“India represents a considerable opportunity in the future as much as it represents a challenge today,” avers Ross Walker, Vice President, International Consumer Products and Commercial Enterprises at World Wrestling Entertainment (WWE).
Boasting of a portfolio including toys, video games, collectibles, home entertainment and apparel, WWE is positive about the Indian market and does not think that this perception would ever change in the years to come. License India interacted with Ross Walker to learn more about the Company’s views and their presence across the globe…

License India (LI): How are things going (overall) at WWE with regards to its licensing and merchandising (L&M) division?
Ross Walker (RW): WWE’s revenues from consumer products continue to increase as the brand generates sustainable businesses in maturing markets and continues to enter new ones. The introduction of Mattel in January 2010 will have a positive impact on the visibility and retail penetration of the brand in all markets. With TV in 145 countries and translated in 30 languages, there remains plenty of opportunity for growth.

LI: What is the kind of revenue that WWE generates from its L&M activities?
RW: 2008 was the first year that WWE’s retail brand value exceeded the US$ 1bn mark.

LI: What is your view of the Indian market when it comes to L&M with regards to the consumer products’ market?
RW: Primarily due to population, India represents a considerable opportunity in the future as much as it represents a challenge today. The market is nascent and will remain so over the coming five, ten and fifteen years for three simple reasons ­– Consumer disposable income, consumer mindsets and developed retail infrastructure. There is a wealth of ambition, a desire to succeed and a growing experience among locals. These qualities allied to the wisdom of western companies that have developed sound businesses and brands elsewhere mean that the market will develop over the next fifteen years.

LI: What has been the consumer response? Who is your target audience?
RW: WWE’s unique approach to family action entertainment means the products appeal to a broad range of consumers. WWE consumer products have been available for the past two decades albeit international growth is relatively new. The target audience does remain to be boys in the age group of 6-12 yrs although this ignores the older consumers who play the video game and girls who we are also aware of as being fans of the brand.

LI: What do you think are the main check points when it comes to formulating an ideal licensing agreement? What is the usual duration of a deal?
RW: Engaging with the ‘best in class’ licensees is the first priority. The licensee should share the short or long-term vision of the licensor and demonstrate an understanding of how to exploit the brand and generate the maximum amounts of sales over the term. Terms vary but typically two years is the norm. All other details that make up an agreement are subject to commercial negotiation.

LI: What do you think a beginner country (with regards to L&M) needs to focus upon in order to take its L&M industry to the next level?
RW: Development of a licensing and retail industry does not happen overnight. Ultimately it is consumer demand that will accelerate the growth of the industry. Retail penetration will decide accessibility to consumers. Licensees with the ability to secure licenses under commercial terms and develop and sell the products to retailers is typically subject to an individual realising an opportunity. And licensees and retailers need to be confident that a brand is going to resonate with a consumer before any investment is made. It’s a constantly moving piece.

LI: Please describe your presence in the Indian market when it comes to WWE licensing deals in the country?
RW: WWE’s TV on Ten Sports since 2002 means there is long-standing brand awareness and this allied to India’s rich wrestling heritage. WWE toys, video games, apparel, footwear, stationery and confectionery are products currently available to fans of WWE in India. This range will continue to expand over the coming years. WWE have some genuinely exciting projects underway that will continue to increase the presence of the brand across all products and media. One such opportunity we were recently able to take advantage of was placing ‘The Great Khali’ in a current series of Big Boss on Colors TV channel.

LI: What has been your experience in India and what are your future plans with regards to extending your presence here?
RW: Our experience in India has always been very positive. We do not anticipate this changing. On the contrary, we intend to expand our presence through an office and employees and engage with established Indian companies to continue to future the brand and increase revenues.

LI: What is the primary learning while establishing an extensive L&M business till date at WWE? What have been the main stumbling blocks?
RW: As a brand that is 52 weeks a year the challenge is, and will continue to be, developing long-term sustainable licensing and retail programs. Inevitably with the level of content output that WWE enjoys; there comes with it the ever increasing expectation among fans to make the following weeks’ / months’ scripts and storylines more compelling than those that have gone before. A perennial family entertainment brand brings with it challenges, but none are insurmountable and we remain ever bullish about what the future holds.

Interviewed by Vrinda Oberai