Manatt Entertainment Leader Jordan Bromley was quoted in an Insider article about the complex nature of arriving at licensing agreements in the entertainment industry.
"It's really hard to get licensed," Bromley said. "It takes a long time. It's very expensive. You've got to get the attention of these companies, too, and if you're not big enough, you won't."
He went on to note that social media has become a method for creators to expand their revenue models, saying this will become increasingly important to pay attention to as high dollar amounts funnel in from these platforms.
"Social-media platform deals are relatively new in our economy and lead to nine figures of revenue a year now," Bromley said. "It's definitely a huge point of interest for us as an entertainment community to make sure everyone is properly licensed."
Insider subscribers can read the full article here.