Stiff Competition For Endorsement Deals

Carrie Underwood has a successful deal with Vitaminwater.

Celebrities are seeking licensing endorsement deals more actively than ever. Ad Age reports that celeb reps were working overtime at the Licensing International Expo, which took place this week in Las Vegas.

Hosting booths for the first time were talent agencies CAA and WME, who in previous years had sent reps to take meetings. Journalist Michael Stone reports CAA’s licensing booking guide showcased ideas for specific deals, such as talk-show host Chelsea Handler’s interest in apparel and greeting cards, and Mariah Carey’s interest in children’s clothing.

Some stars such as Janet Jackson even rented out their own booths, according to the article, a step usually taken by the estates of deceased celebrities.

Stone sums that the competition for endorsements is the result of a rising number of celebs due to reality TV, etc., plus shrinking retail shelf space.

In this environment, Stone writes that it is crucial for celebs and their licensees to be “fully committed to long-term success,” instead of the short-term deals of the past.