Licensing Ltd’s Paul Bufton on fandom, storytelling and AI opportunities

Paul, thanks for making time! In exciting news, you’ve just launched your new business, Licensing Ltd. Can you talk us through its aims and objectives?
For those of us who have been lucky enough to work in the consumer products industry over the last couple of decades, we’ve witnessed a real shift in how IPs connect with their audiences.

Historically consumer products were viewed opportunistically as a part of the downstream revenue mix, but more recently that has pivoted to consumer products representing a meaningful component of the franchise ‘layer cake’. As a part of that evolution, a deeper appreciation for giving consumers a product offering they want has now transitioned to understanding what being a ‘fan’ really means – and how we service the different fanbases, from micro communities to huge global movements.

I feel passionately that the productisation or commercialisation of IP can deliver against those fan expectations with the right insights, instincts, expertise and relationships – and those are the founding principles of Licensed Ltd.

“We’ve witnessed a real shift in how IPs connect with their audiences.”

Fantastic. You’ve worked in licensing for a number of years, with some of the industry’s biggest brands. How do you think the licensing model has changed during your career?
The business has become so much more scientific in its approach to getting the right product offering to fans. We have a far deeper appreciation for demand creation through content distribution, product development that remains true to the core DNA of an IP, and transparent, longer-term retail plans that help buyers make good decisions.

You have worked on brands that have well established and engaged fan bases like Harry Potter and Star Wars. What have you learnt about fandom from those experiences ?
The most enduring and robust franchises operate on multiple levels and when it comes to demand creation, they engage with fans by seamlessly handing them over the storytelling baton from one aspect to another. Some great examples are Harry Potter and Star Wars who have distinct but interwoven stories through movies, TV, live experiences and video games. In a nutshell though, it’s the eternal power of storytelling that transcends everything!

Do you think licensing treats fans well? How could we improve the fan experience in licensing?
It might sound over simple but listening to and engaging with fans is key. At the end of the day, they are your greatest ambassadors and potential source of new ideas. Rights owners are understandably protective of their IP, but as AI gathers more and more momentum, there will be a need to create a sandbox for fans to be able to experiment and have fun with the franchises they know and love.

On that, one area of growth in licensing at the moment is ‘live licensing’ with theatre shows, escape rooms and exhibitions leading the way. Why do you think this area is so buoyant?
If it’s done well and the experience remains true to the authenticity of the IP, it’s the perfect counterbalance to so much of our lives becoming digitised and intangible. Star Wars Celebration is an incredible example of how this can be done so well. Not only does it bring a whole new dimension to being a Star Wars fan, but it also builds community and creativity.

Good example. Turning to design and design trends in licensing, what do you think the licensing community should be looking out for?
Going back to my earlier comment about AI, I think it’s vital that the industry equips itself with a more informed understanding and embraces the opportunity to enhance creativity versus restricting the technology. The genie is well and truly out of the bottle and we should seize the opportunity.

On another note, it’s heartening to see so much progress on sustainability within our business. There’s a long way to go but I’ve seen some wonderful examples recently that use sustainable materials for products and even packaging as storytelling and dual-purpose storage. We must be hypersensitive to the pitfalls of ‘green washing’ and also keep ahead of legislation that will force everyone’s hands eventually.

“Fans are your greatest ambassadors and potential source of new ideas.”

Staying with design, what do you think makes a good style guide these days?
Honestly, I think less is more in terms of the specific elements created – but licensors are far better placed investing their time and money in concept creation and examples of ranges and retail executions… Really bringing the product story to life will help licensed partners with a more effective sell-in.

Thinking about retail, how would you sell the benefits of licensing to retailers considering stocking licensed products?
In these uncertain and challenging economic times, licensed products can bring a real point of difference through entertainment – whether that’s through character, brand or celebrity. They add a whole new dimension to the shopping experience and can add a marketing overlay to bring shoppers into stores looking for newness. Everyone loves to discover the unexpected – even if it’s a novel interpretation of a well-known classic.

Delving into that a little further, what do you think makes a good retail experience?
I always have a browse – and sometimes a sneaky purchase – at the latest offerings in the fast-fashion retailers, like Primark, H&M and Zara. For toys it has to be The Entertainer and Smyths – I love talking with the shop staff. I’m also a bit of a supermarket geek, especially the larger format stores. That said, my new favourite – and hat’s off to Gary and the team there – is HMV and their new pop-culture stores. It’s rare I come away empty handed!

“With AI, the genie is well and truly out of the bottle.”

If I have some time and particularly if I’m in a new town or city, I also love exploring vintage clothes stores. They tend to be in the most interesting parts of town and the really good ones have the most incredible merchandising. And needless to say Amazon is my one-stop shop, especially if it’s urgent or I’m short on time.

Paul, this has been great. I have one final question… Reflecting on your career to date, can you pick your top three products or experiences you have been involved in?
Oh wow, that’s like asking which is my favourite son! An impossible question to answer, but if my life depended on it I’d have to say in no particular order:

The Harry Potter Monster Book of Monsters with TOMY. It was a real delight to work with a team that truly believed in the power of the IP and moved heaven and earth to hit the right price point without compromising on the product experience. I still have mine and it works!

Next would be the Harry Potter Shop at Platform 9 ¾. Even though the original team have now moved on to bigger and more exciting things, I still pop in to take a look when I’m at Kings Cross and it fills me with pride. It was a challenging journey at times but feeling the love from the fans when you’re there means everything.

Finally, I’d go with The Art of Star Wars Exhibition at the Barbican Centre. It brought artistry, creativity and the craft of filmmaking to the forefront and celebrated the team behind the scenes of arguably the world’s biggest franchise. We had access to everything from storyboards, costumes, models, concept art and visual effects, direct from the Lucasfilm archive on Skywalker Ranch. It was groundbreaking and toured the world afterwards.

It’s one of my proudest achievements as I contacted the Barbican with the idea through a former colleague of my Dad – John Tusa – and incredibly he agreed to take the meeting. The rest, as they say, is history…

Great picks. Thanks again Paul.